Global Hybrid Mattress Market 2022-2028
About this market
The presence of a highly developed offline retail industry in developed countries such as the US and the UK will likely drive the global hybrid mattress market. Large organized retail stores offer the option of selecting the desired product among many brands under one roof. The rising number of brand-conscious consumers has enhanced the value of organized retailers offering branded hybrid mattresses. The prominent organized retail sector allows consumers to search for information on brands to differentiate them over quality, price, and comfort level before making their purchase decisions. The sale of hybrid mattresses via the offline retail channel is growing with a shift in consumer preference from traditional to modern retail channels such as specialty stores. This will have a positive impact on the manufacturers and retailers of branded products in the market. Therefore, the increase in the number of manufacturer and third-party retail outlets along with omnichannel presence, will boost the growth of the market. analysts have predicted that the hybrid mattress market will register a CAGR of over 8% by 2023.
Market Overview
Growth of real estate and construction industry
The growth of the real estate industry has positively influenced the hospitality, tourism, and residential sector. This has resulted in an increased demand for household furnishings, including mattresses. Urbanization and significant investments in infrastructure are helping the global construction industry to grow. With the housing sector witnessing an incremental growth in construction activities, the demand for hybrid mattresses is anticipated to rise during the forecast period. The high consumption of mattresses by the residential and hospitality sector has made the construction industry one of the largest end-users of the global hybrid mattress market. Residential sector activities, including new house construction and renovation and modification of existing houses, generate the demand for hybrid mattresses, which plays a vital role in shaping the global hybrid mattress market.
Volatility in raw material prices
The commonly used raw materials for hybrid mattresses are innerspring, helical spring, box spring, natural fiber, several types of foams (inducing PU foam and memory foam), and other covering materials. The availability of these raw materials varies from country to country, which affects the production capability of vendors. For instance, a variation in logistic service costs, price of raw materials, and availability of warehousing facility can change the production capabilities of a vendor. Therefore, the price of a finished product influences its adoption in the market. Thus, the volatility in raw material prices in various countries challenges the global hybrid mattress market.
For the detailed list of factors that will drive and challenge the growth of the hybrid mattress market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented. The presence of several companies, including Brentwood Home and Kingsdown Inc., makes the competitive environment quite intense. Factors such as the growth of real estate and construction industry and the highly developed offline retail sector in developed countries will provide significant growth opportunities to the hybrid mattress manufacturers. Restonic Mattress Corp., Serta Simmons Bedding LLC, and Tempur Sealy International Inc. are some of the major companies covered in this report.
The presence of a highly developed offline retail industry in developed countries such as the US and the UK will likely drive the global hybrid mattress market. Large organized retail stores offer the option of selecting the desired product among many brands under one roof. The rising number of brand-conscious consumers has enhanced the value of organized retailers offering branded hybrid mattresses. The prominent organized retail sector allows consumers to search for information on brands to differentiate them over quality, price, and comfort level before making their purchase decisions. The sale of hybrid mattresses via the offline retail channel is growing with a shift in consumer preference from traditional to modern retail channels such as specialty stores. This will have a positive impact on the manufacturers and retailers of branded products in the market. Therefore, the increase in the number of manufacturer and third-party retail outlets along with omnichannel presence, will boost the growth of the market. analysts have predicted that the hybrid mattress market will register a CAGR of over 8% by 2023.
Market Overview
Growth of real estate and construction industry
The growth of the real estate industry has positively influenced the hospitality, tourism, and residential sector. This has resulted in an increased demand for household furnishings, including mattresses. Urbanization and significant investments in infrastructure are helping the global construction industry to grow. With the housing sector witnessing an incremental growth in construction activities, the demand for hybrid mattresses is anticipated to rise during the forecast period. The high consumption of mattresses by the residential and hospitality sector has made the construction industry one of the largest end-users of the global hybrid mattress market. Residential sector activities, including new house construction and renovation and modification of existing houses, generate the demand for hybrid mattresses, which plays a vital role in shaping the global hybrid mattress market.
Volatility in raw material prices
The commonly used raw materials for hybrid mattresses are innerspring, helical spring, box spring, natural fiber, several types of foams (inducing PU foam and memory foam), and other covering materials. The availability of these raw materials varies from country to country, which affects the production capability of vendors. For instance, a variation in logistic service costs, price of raw materials, and availability of warehousing facility can change the production capabilities of a vendor. Therefore, the price of a finished product influences its adoption in the market. Thus, the volatility in raw material prices in various countries challenges the global hybrid mattress market.
For the detailed list of factors that will drive and challenge the growth of the hybrid mattress market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented. The presence of several companies, including Brentwood Home and Kingsdown Inc., makes the competitive environment quite intense. Factors such as the growth of real estate and construction industry and the highly developed offline retail sector in developed countries will provide significant growth opportunities to the hybrid mattress manufacturers. Restonic Mattress Corp., Serta Simmons Bedding LLC, and Tempur Sealy International Inc. are some of the major companies covered in this report.
Frequently Asked Questions
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