LONDON--(BUSINESS WIRE)--A new market research study by Technavio on the global latex mattress market projects the market to grow at a CAGR of close to 12% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
Highly developed offline retail sector in developed countries
With rising brand consciousness, the value and penetration of the organized retail segment is increasing significantly. The organized retail sector allows consumers to explore several brands and compare them over several parameters, such as quality, price, and comfort. This helps customers in making informed purchase decisions. Moreover, a shift in consumer preference from traditional to modern retail channels such as specialty store is increasing the sale of latex mattresses through offline retail channels. This will have a positive impact on the manufacture and retail of branded mattresses in the market.
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Introduction of smart mattresses
Smart mattresses that comprise of technologically-advanced features such as sleep monitoring systems are gaining immense popularity worldwide. Sensors located under the mattress track sleeping hours, sleep movements, and other vital records of the user. Such mattresses are characterized by distant operability, automatic angle adjustments, and alarm-setting features. The incorporation of smart features in latex mattresses helps to improve convenience, comfort, and the overall sleeping experience of the user. Thus, the launch of smart mattresses will increase the total demand for mattresses, thereby contributing to the growth of the global latex mattresses market.
According to a senior analyst at Technavio, “Apart from the introduction of smart mattresses, several other factors such as the growing demand for eco-friendly mattresses, the need for multifunctional beds will have a significant impact on the growth of the latex mattress market size during the forecast period.”
Low adoption rates in developing countries
The latex mattress market is witnessing significant growth in developed countries. However, the market scenario is different in developing countries of MEA, APAC, and South America due to low purchasing power and the lack of awareness. Moreover, the lower population density in rural areas compared with the urban in developing countries limits the sales of lifestyle products, which are considered superfluous when financial resources are limited. However, latex mattress companies are constantly striving to boost sales and expand their presence in developing countries, which will positively impact the growth of the latex mattress market during the forecast period.
Top players in the global latex mattress market:
- Brentwood Home
- Organic Mattresses
- Serta Simmons Bedding
Some of the key topics covered in the global latex mattress market include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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