Global Luxury Mattress Market – Introduction
- Luxury mattresses are widely used in premium hotels, luxurious resorts, villas, hospitals, residential accommodations etc. A luxury mattress is a large rectangular pad of different layers and degrees of both softness and firmness. The major benefits of such mattresses is to offer pressure relief, conform to the shape of the body, to spread the weight over the surface of the mattress, and relieve pressure points. Luxury mattresses are made from a variety of materials which include memory foam, latex, innerspring, and hybrid materials. Luxury mattresses are considered as quality mattresses which can reduce inflammation and problems related to arthritis etc.
Rise in adoption or usage of mattresses made from natural materials projected to be a driving factor for the luxury mattress market
- The rising sale of natural mattresses having hypo allergic properties is a growing trend. Furthermore, end-users (premium hotel chains, luxurious resorts and villas etc.) are increasingly becoming aware about the harmful effects of synthetic mattresses used on a regular basis. Manufacturers and distributors sell their natural material- based mattresses for the quality sleep and comfort they offer. These are projected to be major driving factors of the luxury mattress market during the forecast period.
Increase in trend of selling luxury mattresses through company-owned websites and e-commerce websites projected to create huge opportunity for manufacturers and suppliers
- Rapid increase in trend of selling products such as luxury mattresses through online distribution channels especially on company-owned websites and on e-commerce websites such as Amazon, Walmart, and various other regional e-commerce portals across the globe is expected to create significant opportunities for manufacturers and distributors of luxury mattresses during the forecast period. Companies are also offering attractive discounts and launching exclusive offers or payment schemes to drive the sale of luxury mattresses on e-commerce websites etc.
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North America and Europe Considered to be the Largest Markets for Luxury Mattresses
- Geographically, the global luxury mattress market can be divided into five regions: North America, Europe , Asia Pacific, Middle East & Africa, and South America
- North America and Europe accounted for major share of the global luxury mattress market in 2019. The market in North America and Europe is anticipated to grow at a moderate rate during the forecast period due to rising trend of using luxury mattresses as per the interior design, and increasing usage of luxury mattresses made of natural material over mattresses made from chemical or synthetic material.
- The market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period due to rapid urbanization, rise in sale of luxury mattresses on e-commerce websites, and rise in ownership of luxury homes, bungalows and villas etc. in China, India, Japan, Thailand, Singapore, Australia, and other Southeast Asian countries. This is projected to surge the demand for luxury mattresses in the Asia Pacific region.
Key Players Operating in the Luxury Mattress Market
Prominent luxury mattress manufacturing companies are projected to face healthy competition during the forecast period. Brands such as Serta Simmons Bedding, LLC, Sleep Number Corporation, Kingsdown, Inc., and Kurlon etc. are investing heavily on research & development and focusing on upgrading their existing portfolio of mattresses and planning to expand and launch more comfortable and economical luxury mattresses in the market. Companies are also undertaking mergers & acquisitions or signing agreements with regional distributors and dealers to expand their business in various parts of the globe. Some of the key players operating in the global luxury mattress market include:
- Dream Tress, LLC.
- HARRISON SPINKS
- King Koil
- Kingsdown, Inc.
- Serta Simmons Bedding, LLC
- Sherman Mattresses
- Sleep Number Corporation
- Tempur Sealy International, Inc.
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Global Luxury Mattress Market – Research Scope
Global Luxury Mattress Market, by Product Type
- Memory Foam Mattress
- Latex Mattress
- Hybrid Mattress
- Others (Innerspring Mattress etc.)
Global Luxury Mattress Market, by Size
- Twin XL
- Full XL
- California King
- Other Specialty Sizes
Global Luxury Mattress Market, by Thickness
- Below 5 inches
- 6 – 10 inches
- 10 – 20 inches
- Above 20 inches
Global Luxury Mattress Market, by End-use
- Others (Hospitals etc.)
Global Luxury Mattress Market, by Distribution Channel
- Company-owned Websites
- E-commerce Websites
- Specialty Stores
- Other Retail Stores
Global Luxury Mattress Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.