The memory foam pillow market to grow at a CAGR of around 4% by 2023
Arizton’s recent market research report on the US mattress and memory foam pillow market identifies Serta Simmons Bedding, Sleep Number, and Tempur Sealy Internationalas the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by product (mattress (polyurethane foam mattress, gel-infused foam mattress, and plant-based foam mattress) and pillow), by end-users (residential and commercial users), and distribution (retail and online).
The US memory foam mattress and pillow market is anticipated to generate revenues of more than $8 billion by 2023, growing at a CAGR of approximately 9% during 2017-2023.
The market research report also a offers market size analysis in terms of unit shipment volumes during the forecast period.
The mattress and memory foam pillow market are divided into three major segments that include product, end-users, and distribution channels.
Pillow segment to grow at a considerable CAGR in the mattress and memory foam pillow market during the forecast period
The memory foam pillow and mattress market by product type are classified into mattress and pillow. The memory foam pillow segment accounted for less than 1/4th of the total market share in 2017, growing at a CAGR of around 4% during the forecast period. These pillows are made of either a single piece of foam or shredded memory foam fillings. The vendors are designing these products to either shaped like a normal pillow or contoured to fit the shape of head or neck of the end-users. The marketing of these products as an effective pressure relief and the comfortable product will drive sales in this segment in the memory foam pillow and mattress market. These memory foam pillows offer good support and are soft and smooth without any lumps with enhancing durability. The easy maintenance of these pillows will boost the adoption of these pillows in the US market. The pillows which are mass produced consist of a single piece of foam which proves disadvantageous as these pillows always revert to their original shape and cannot be altered. This might affect the sale of the products in the US market. The shredded foam pillows are becoming popular among end-users as they are moldable and will create lucrative opportunities for the vendors operating in the mattress and memory foam pillow market.
Commercial segment to grow at the fastest CAGR in the mattress and memory foam pillow market during the forecast period
The end-user segment in the mattress and memory foam pillow marketis categorized into residential and commercial. The commercial segment occupied around 1/3rd of the market share in 2017, growing at a CAGR of more than 11% during the forecast period. The commercial segment includes the sale of mattresses and pillows to commercial users in the hospitality industry such as exclusive spas, premium hotels, international airports, and others, and healthcare facilities such as hospitals. The exponential growth of the hospitality and healthcare industries is propelling the growth of this segment in the US mattress and memory foam pillow market. The rapid growth and development of the travel and tourism industry in the US will contribute to the growing revenues in the commercial segment over the next few years. The increase in hotel construction activities across the region will boost the demand in the market. For instance, Hyatt was expected to open at least 11 new Hyatt House, Hyatt Place, and Hyatt Regency hotels in locations such as Denver (Colorado), Emeryville (California), Houston (Texas), Chicago (Illinois), and Asheville (North Carolina), and others. The demand for superior products that offer comfort will propel the growth of this segment in the mattress and memory foam pillow market.
Online segment to grow significantly in mattress and memory foam pillow market during the forecast period
The mattress and memory foam pillow market by distribution channel are segmented into retail and online. The online segment in the fastest growing segment and it accounted for over 1/3rd of the total market share in 2017. The development of e-commerce portals and online direct-to-consumer stores such as Amazon, eBay, Amerisleep, Casper, and Tuft & Needle is propelling the growth of this segment in the US market. The online retailers are leveraging social media to promote their products and reach a wider audience in the US mattress and memory foam pillow market. Many consumers are e-tailing services seek to buy mattresses online because of the ease-of-accessibility and convenience afforded by such channels. The lucrative discounts and a wide range of products offered by vendors will enable them to attract more consumers and boost their revenues in the mattress and memory foam pillow market during the forecast period.
The other prominent players in the mattress and memory foam pillow market are Ashley Furniture Industries, Corsicana Bedding, Dorel Industries, Englander Sleep Products, E. S. Kluft & Company, Kingsdown, King Koil, Mattress Firm, Leggett & Platt, Restonic, Southerland Bedding, Spring Air International, Symbol Mattress, and Therapedic International.
The complete overview of the latest market research report on the US mattress and memory foam pillow market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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