iCrowdNewswire Dec 31, 2020 4:00 AM ET
Global home bedding market is growing at a rapid pace. The growth attributes to the increasing market proliferation and preference of branded bedding solutions. The demand for home bedding is increasing at a high rate across the globe, due to the rising consumer spending on convenient and comfortable furnishing and expansion of real estate sectors. Moreover, the growing demand for sustainable products and rising traction for smart mattresses escalates market growth.
According to Market Research Future (MRFR), the global home bedding market is projected to reach USD 63,126.0 MN by 2025, growing at 5.35% throughout the forecast period (2019-2025). Direct-to-consumer brands specializing in sustainable and organic bedding are actively participating in the market, becoming the retail industry major. Some manufacturers approach unique product design with a back-to-basics idea, while others use a contemporary design ethos to inform an environmentally friendly product.
Additionally, the COVID 19 pandemic has accounted for a sea change in the home bedding industry. On one side, where traffic was in many bricks-and-mortar retailers reportedly low, the antiviral range showed higher conversion rates. Therefore, it is estimated that mattress sales would continue to rebound, indicating double-digit growth year-over-year. Also, online sales are expected to rise exponentially due to the availability of a range of comfy designer bedding options.
Rising competition among players in terms of price, functions, quality, and design leads to high investments in R & D. Manufacturers of home bedding are launching innovative and elegant designs to attract consumers. These developments presage the heydays the home bedding market is to perceive soon. Conversely, the presence of unorganized players is expected to restrict the growth of the market during the assessment period.
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Global Home Bedding Market – Segments
The report is segmented into three dynamics.
By Type : Mattresses, Pillows, Bed Linen, Blankets, and others.
By Distribution Channel: Store-Based and Non-Store-Based
By Regions: Europe, Americas, Asia Pacific, and Rest-of-the-World.
Home Bedding Market – Regional Analysis
North America dominates the global home bedding market. The region witnesses large numbers of consumers of environmentally friendly home bedding products. The significant market share attributes to the vast preference for innovative bedding solutions and high per capita disposable income.
Also, large technological advances and the presence of several key players in the region, drive the regional market growth. The US market is estimated to retain its dominance throughout the forecast period, valuing USD 16,320.2 MN by 2025, with 4.86% CAGR during the forecast period.
Europe stands second in the global home bedding market. The market is predominantly driven by economic growth and steadily growing furnishing sectors in the region. Moreover, a large consumer base and preference comfortable bedding options boost the regional market growth. Also, technical expertise demonstrated by existing key players in the region fuel the market sales. Besides, the significant contribution from growing markets in the UK and Germany drive the regional market growth.
The home bedding market is brisk in the Asia Pacific region. The region accounted for 30.38% of the overall market share in 2018. Factors such as the increasing per capita disposable income and demand for innovative bedding options led by the improving lifestyles of demographics boost the regional market growth. Moreover, the rising adoption of technology-driven products drives the market demand considerably.
Simultaneously, rising product developments, production facilities, and growing manufacturing sectors in India and China bolster the regional market growth. In 2018, China accounted for the largest as in 48.70% share of the regional market, followed by India. The Chinese home bedding market is projected to grow at 6.03% CAGR during the forecast period.
Home Bedding Market – Competitive Analysis
Highly competitive, the home bedding market appears diversified due to the presence of many well-established brands. To gain a larger competitive share, industry players incorporate strategic initiatives such as collaboration, mergers & acquisition, expansion, and product/technology launch. Industry players make substantial investments locally and internationally to expand their production capacity and distribution network.
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Players leading the global home bedding market include Serta Simmons Bedding, LLC (US), Kingsdown, Inc. (US), Sleep Number Corporation (US), Boll & Branch LLC (US), Crane and Canopy (US), Portico, Inc. (India), Hollander Sleep Products (US), Acton & Acton (UK), Casper Sleep (US), and WestPoint Home LLC (US), among others.
Industry/ Innovation/ Related News:
June 30, 2020 —- D’Decor Home Fabrics Pvt. Ltd. (India), a curtain & upholstery fabrics producer, announced its partnership with a Swiss textile innovator – HeiQ Materials AG. The company launched antiviral and air purifying range of furnishing fabrics and bedding products. Bedding fabrics usually host a large surface for bacteria and viruses, allowing them to remain active for a longer time. In the current pandemic time where people look for hygienic home solutions more than ever, D’Decor wanted to expand their textiles antiviral and antibacterial line.
The company launched ViroGuard, and AeroFresh antiviral ranges of home textile products offering upholstery fabrics, curtain fabrics, and bedding products. These bedding options are powered by HeiQViroblock technology. Materials have been previously tested adequately against coronavirus, avian flu, influenza, swine flu, and respiratory syncytial virus, achieving a 99.99% reduction of the virus.
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