The global latex mattress market is estimated to reach USD 12.4 billion, by 2025, and is projected to grow at a CAGR of 6.8% from 2019 to 2025, according to a new report by Million Insights. Increasing demand for sleeping equipment owing to preference towards luxurious lifestyle is projected to propel the demand for the product.
Increasing problems such as improper sleep, joint, and back issues are expected to boost the market growth. Moreover, growing awareness among consumer about rising physical and mental health issues is anticipated to increase the demand for the product.
This product helps in proper alignment of spine and offer comfort through mattress. Natural spine alignment improves blood circulation. The product is highly recommended for back issues especially by the therapists, chiropractors, and osteopaths. All these health benefits are anticipated to increase the demand for the product in the coming few years.
It has been observed that, rising problems of backache, joint pain among the younger population is projected to propel the demand for the product. Growing problems such as backache due to improper sleep posture are associated with use of wrong mattress. According to study, in America 27 million people above 18 are having back pain issues in 2017. This factor is expected to influence consumer to look after mattress for their better health.
In 2018, blended mix type held the highest share of over 39.0% in the overall market. These mattresses are comprised of synthetic latex with natural Talalay. This mixture offers high durability and increased consistency. Manufacturers provide latex containing products in the ratio of 70:30 and 60:40. Blended mattresses are available at cheaper rate than natural latex.
Growing hospitality sector along with development in commercial sector has led to increasing number of restaurants and hotels. This trend is expected to proliferate the demand of high-quality latex mattresses. Moreover, increasing demand from hotels and hospitals across the emerging countries such as China, Vietnam and India are boosting the latex mattress market growth.
Major players focus on new product development as the technology is evolving over the years. For instance, in 2018, Innocor Inc. introduced brand called Revel on Amazon which is an exclusive platform for serving the commercial consumer base.
In 2018, North America dominated the market with a share of over 30.0% in the overall market. Increasing demand for home furnishing items from residential sector is contributing to market growth. Moreover, growing trend of using natural ingredients for mattress production is anticipated to boost the product demand.
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Further key findings from the report suggest:
• In 2018, blended mix product segment accounted for the revenue of USD 3.1 billion in the overall market.
• The commercial segment is projected to grow at a CAGR of 7.1% during the forecast period.
• Asia Pacific is anticipated to grow at the highest CAGR of 7.4% over the forecast period.
• Key players in the market are Simmons Bedding Company LLC., Sleep On Latex, Sleep Number Corporation, Spindle, Astrabeds LLC, Royal-Pedic Mattress Mfg., Dreamfoam Bedding.
Million Insights has segmented the global latex mattress market based on type, application, and region:
Latex Mattress Type Outlook (Revenue, USD Million, 2015 - 2025)
• Blended Mix
Latex Mattress Application Outlook (Revenue, USD Million, 2015 - 2025)
Latex Mattress Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa