U.S. Mattress Market its Future Outlook and Trends
The U.S. Travel Association states that 79.3 million global visitations were recorded in the U.S. in 2019. The association also states that the federal government invested more than $21 million in the tourism sector in the financial year (FY) 2020–2021. It also reveals that the people in the U.S. made 2,317 million trips within the country in 2019. As the tourism industry is the backbone of the hospitality sector, the surging number of domestic trips will create a huge requirement for mattresses in the U.S.
Additionally, the booming construction sector, on account of the growing population and mounting investments being made in residential construction, will help the U.S. mattress market exhibit a CAGR of 4.8% during 2020–2030. According to P&S Intelligence, the market revenue will rise from $16,716.5 million in 2020 to $26,790.4 million by 2030. According to the U.S. Census Bureau, the population of the country will surge from 326 million in 2017 to 404 million by 2060. As per the bureau, the population will cross 400 million by 2058.
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In the U.S., both distribution channels offer different sizes of latex, water, air, gel, hybrid, innerspring, and memory foam mattresses manufactured by Corsicana Mattress Company, Saatva Inc., Spring Air International, Purple Innovations Inc., Tempur Sealy International Inc., Kingsdown Mattress, Sleep Number Corporation, Leesa Sleep LLC, Casper Inc., and Serta Simmons Bedding LLC. These companies are currently focusing on offering improved mattresses to cater to the evolving needs of the customers.
Geographically, the Southern region dominated the U.S. mattress market in the recent past, primarily on account of the accelerating urbanization rate. Moreover, the presence of a large population in southern cities is also propelling the need for mattresses in the region. The U.S. Census Bureau states the population of the Southern region grew from 124,569,433 in 2018 to 125,580,448 in 2019. As per the organization, a large section of the country’s population resides in the region.
Thus, the flourishing tourism industry and expanding construction sector will create an enormous requirement for mattresses in the U.S.
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