Consumers trading up to premium mattresses offering better sleep
CLEVELAND, Dec. 21, 2020 /PRNewswire/ -- US sleep product demand is forecast to grow 2.6% annually in nominal terms through 2024, according to Sleep Products: United States, a report recently released by Freedonia Focus Reports. Advances will be driven by projected increases in household formation, home sales, and disposable personal income levels. Marketing emphasis on the importance of a good night's sleep and the potential benefits of a transition from a traditional innerspring mattress – which often cause pressure points and joint pain – will continue to support purchases of high-end memory foam and hybrid mattresses. In addition, demographic factors – such as the aging of the large and relatively affluent baby boomer generation – will stimulate demand for premium sleep products that promise to relieve problems such as chronic back pain. New product introductions – enabled by ongoing advances in sleep product designs and materials – will continue to support tradeup activity. Sales in the nonresidential market will be supported by expected gains in the number of hospital beds in service. In the short term, COVID-19 will continue to spur some demand for new mattresses as consumers experience negative effects to the quality of their sleep while working from home and spending more time in bedrooms.
These and other key insights are featured in Sleep Products: United States. This report forecasts to 2024 US sleep product demand in US dollars at the manufacturer level. Total demand is segmented by product in terms of:
sleep system ensembles
To illustrate historical trends, total demand, the various segments, and trade are provided in annual series from 2009 to 2019.
Bed furnishings (e.g., bedspreads, sheets, and pillows) and furniture (e.g., bed frames, bed slats, and headboards) are excluded from the scope of this report. In addition, inflatable mattresses and sleeping bags are not included in this report. Re-exports of sleep products are excluded from demand and trade figures.
This report features the results of the Freedonia Focus Reports proprietary national consumer survey, including COVID impact analysis.
More information about the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
total historical market size and industry output
segmentation by products and markets
identification of market drivers, constraints, and key indicators
segment-by-segment outlook in five-year forecasts
a survey of the supply base
suggested resources for further study
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SOURCE The Freedonia Group