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Adjustable Beds & Mattress Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global adjustable beds & mattress products market was valued at USD 2.7 billion in 2022 and is expected to reach USD 4.6 billion by 2030, growing at a CAGR of 6.9% during the forecast period. Increasing incidence of orthopedic problems, such as back pain and neck pain, is expected to drive the growth of the market. Adjustable beds are becoming increasingly popular in the market due to the increasing awareness about their health benefits. Moreover, advancements in technology, such as adjustable beds with massage and heat-up features, have further augmented their demand in the market.
The rising demand for adjustable beds & mattresses from the geriatric population is expected to boost the market growth. The aging population is more susceptible to orthopedic problems, such as back pain, neck pain, and arthritis, which has led to an increase in the demand for adjustable beds & mattresses. Furthermore, adjustable beds are also gaining popularity among the younger population due to their various features, such as massage and heat-up features.
The increasing focus on comfort and convenience by customers is also driving the market. For instance, in June 2021, Sleep Number Corporation launched two new adjustable base options, the Sleep Number 360 i10 and the Sleep Number 360 iLE. These adjustable bases come with features such as a massage system, sleep tracking, and automatic adjustments to help customers sleep better. Additionally, several vendors are introducing adjustable beds with smartphone-controlled features. For instance, in April 2021, Leggett & Platt launched the Prodigy 2.0, an adjustable bed base with a smartphone app for controlling functions, such as massage, sleep timer, and pre-sets.
Furthermore, the increasing demand for adjustable beds & mattresses from hospitality sector is also driving the market. For instance, in October 2020, Reverie announced the launch of its new adjustable beds, which are designed to provide the same level of comfort and convenience in a hotel room setting. This new product is expected to offer guests enhanced comfort and convenience, and is likely to drive the demand for adjustable beds & mattresses in the hospitality sector.
The growing trend of smart homes is also expected to drive the market growth. Adjustable beds are being integrated with smart home devices, such as Amazon Alexa and Google Home, to offer convenience to customers. Furthermore, adjustable beds can be connected to various devices such as iPads and smartphones, and can be controlled remotely. This has resulted in a growing demand for these products from the consumer market.
Product Insights
The adjustable beds segment accounted for the largest market share of around 35.7% in 2022. The rising demand for adjustable beds is mainly attributed to their ergonomic design and comfort. Moreover, adjustable beds provide convenience and safety to users, thus encouraging their adoption. According to an article published by Sleep Junkie, in April 2020, adjustable beds can help people suffering from sleeping disorders such as sleep apnea, snoring, and acid reflux. Furthermore, growing awareness among consumers regarding the health benefits of adjustable beds is also driving the market growth.
The mattresses segment is expected to show a substantial growth over the forecast period. The rising disposable income among consumers and growing demand for comfort and luxury are some of the key factors driving the mattresses market growth. According to an article published by the Sleep Judge, in October 2020, mattresses provide comfort and support, which are essential for a good night’s sleep. Additionally, the increasing demand for mattresses with advanced features such as cooling technology and motion isolation is further propelling the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the adjustable beds & mattress products market in 2022, owing to their wide product selection and availability of discounts. Supermarkets and hypermarkets offer convenience to consumers in terms of selection of product and one-stop shopping experience. The segment is also becoming more popular due to the presence of prominent brands such as Serta, Sealy, and Tempur-Pedic.
The online segment is expected to register the fastest growth over the forecast period. The increasing penetration of internet and smartphones, along with the availability of a wide variety of adjustable beds and mattresses products is anticipated to drive the segment growth. Moreover, the increase in the number of e-commerce websites offering adjustable beds & mattress products is likely to boost the segment growth over the forecast period. For instance, in 2021, Amazon launched a dedicated page for adjustable beds & mattress products. The page offers a wide selection of beds and mattresses from various brands.
Type Insights
The adjustable beds and mattresses market is segmented into manual and electric. In terms of revenue, the electric segment accounted for the largest share in 2020. This can be attributed to the rising disposable incomes in the developing countries, which has increased the affordability of electric adjustable beds and mattresses. Furthermore, technological advancements in the product such as the introduction of electronic massage systems in adjustable beds and mattresses are increasing the demand for electric adjustable beds and mattresses.
The manual segment is anticipated to expand at the highest CAGR of 8.5% over the forecast period. This can be attributed to the increasing demand for manual adjustable beds and mattresses from the elderly population, as they find manual adjustable beds and mattresses convenient to use. Furthermore, increasing demand for adjustable beds and mattresses in hospitals and nursing homes is also driving the growth of the manual segment.
Regional Insights
North America dominated the market and accounted for the largest revenue share of over 36.1% in 2022. This is attributed to the presence of a large number of manufacturers in the region and the increasing demand for adjustable beds. The presence of prominent players, such as Sealy Corporation, Serta Simmons Bedding, and Tempur Sealy International, is expected to propel the growth of the market in the region. Moreover, the increasing number of health-conscious consumers is expected to drive the demand for adjustable beds in the region.
Europe is expected to witness the second-fastest growth over the forecast period. This is attributed to the growing number of technologically advanced bedding products in the region. Moreover, the presence of a large number of bedding retailers across the region is expected to drive the growth of the market. Additionally, the rising demand for adjustable beds and mattresses among geriatric population is further expected to propel the growth of the market in the region.
Financial Projections
In this part of the adjustable beds & mattress products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your adjustable beds & mattress products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an adjustable beds & mattress products business comes from sales of adjustable beds, mattresses, and other related products. In addition, the business could also generate income from other sources such as delivery and assembly services, online sales, and bulk orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the adjustable beds & mattress products business running will be described. The list of operating expenses includes salaries, inventory, rent, marketing and advertising, utilities, and insurance policies. Additionally, other costs may include costs related to product research and development, delivery and assembly services, and online sales.
Key companies & market share insights
Some of the key companies operating in the adjustable beds and mattresses market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Serta Simmons Bedding, LLC launched the Serta iComfort Hybrid mattress, a new adjustable bed that can be adjusted to a range of sleeping positions.
– In August 2022, Leggett & Platt, Inc. launched the Prodigy Comfort Elite adjustable bed, a new adjustable bed with a range of comfort settings.
– In June 2022, Tempur-Pedic International, Inc. launched the Tempur-Ergo Programmable bed, a new adjustable bed with automated leg and head positioning settings.
Some of the prominent players in the adjustable beds and mattresses market include:
– Serta Simmons Bedding, LLC
– Leggett & Platt, Inc.
– Sleep Number Corporation
– Tempur-Pedic International, Inc.
– Kingsdown, Inc.
– Reverie
– Ergomotion Inc.
– Select Comfort Corporation
– Sleep Science
– Malouf
– Glideaway.
Global Adjustable Beds & Mattress Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global adjustable beds & mattress products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Adjustable Beds
– Mattress
– Accessories
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation in the Adjustable Beds & Mattress Products Market?
[A]: Product innovation is expected to be a major factor driving the growth of the adjustable beds & mattress products market. Product innovation in the adjustable beds & mattress products market is mainly focused on providing comfort and convenience to the users. For instance, manufacturers are introducing products with adjustable heights, memory foam mattresses, and massage features. These products are designed to provide comfort and convenience to the users, which is expected to drive the growth of the adjustable beds & mattress products market.
[Q]: Who are the Key Players in the Adjustable Beds & Mattress Products Market?
[A]: Key players in the adjustable beds & mattress products market include Leggett & Platt Incorporated, Serta Inc., Southerland Inc., Tempur Sealy International Inc., Kingsdown, Inc., Reverie, Sleep Number Corporation, and Spring Air International.
[Q]: Which Region Offers the Largest Opportunity for Sales of Adjustable Beds & Mattress Products?
[A]: North America is expected to be the largest market for adjustable beds & mattress products due to the high demand for these products in the region. Additionally, the availability of advanced technologies and the presence of key players in the region are expected to drive the growth of the adjustable beds & mattress products market in the region.
[Q]: What are the factors driving the adjustable beds & mattress products market?
[A]: Some of the factors driving the growth of the adjustable beds & mattress products market include increasing disposable income, changing lifestyle, rising health awareness, and technological advancements. In addition, rising demand for adjustable beds & mattresses from elderly people and growing focus on providing comfortable sleeping experience are expected to drive the growth of the adjustable beds & mattress products market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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