India Mattress Market Size and Forecast (2018-2030) - Share, Trends and Growth Opportunities by Mattress Type (Spring, PU Foam, Rubberized Coir) and End User Segments (Residential, Commercial)

Overview

Executive Summary
The India mattress market has witnessed steady growth driven by rising consumer awareness of quality sleep and increased disposable income. According to the Indian Sleep Product Federation, the total market size is around 18.6 million units, with an annual demand of 7 million units. Key sales regions are Andhra Pradesh, Tamil Nadu, and Kerala, while West Bengal, Bihar, and Orissa show untapped growth potential, expected to surge in the coming years.

Transition to an Organized Sector: Historically, the India mattress market had been predominantly unorganized, characterized by numerous small local players. Nevertheless, a noticeable shift towards the organized sector emerged, with established brands and companies offering a diverse range of mattresses featuring various specifications and price ranges. Brands hold a 40% share in the market, with twenty-five competitors in the branded segment, dominated by Sleepwell and Kurlon.

Pricing Dynamics: A majority, specifically 60%, of mattresses are sold for less than INR 10,000, contributing only 35% to the overall sales value. Contrarily, mattresses priced above INR 20,000 constitute only 15% of total sales but significantly contribute to the value at 40%. On average, consumers shell out INR 9,500 for organized sector brands and INR 3,000–5,000 for unbranded ones (inclusive of GST). Cash transactions still prevail, accounting for 73% of mattress purchases, while only 13% are made using electronic payment methods.

Key Industry Developments

• In November 2022, Centuary India, a Telangana-based mattress company, launched a campaign featuring Sania Mirza, a former Indian professional tennis player, introducing a customizable and affordable range of mattresses targeting both the elderly and millennials.
• In June 2022, Serta Simmons Bedding, a U.S.-based company, partnered with interior designer Nate Berkus to release a limited-edition sleep collection (Beautyrest), comprising mattresses, mattress protectors, and down pillows. This collection emphasizes sustainability and user comfort.

Performance of Major Market Segments

• Material-wise segmentation includes PU foam, rubberized coir, & spring, with PU foam dominating the market. The expanding demand for PU foam mattresses is fueled by the growth in end-user industries like bedding and furniture, electronics, automotive, and building and construction.
• Application-wise segmentation categorizes the market into the commercial and residential segments, with the residential sector holding the majority. The government's "housing for all" initiative, coupled with a burgeoning population and rising household numbers, is expected to drive mattress demand, notably in the top seven cities.
• Distribution channels are divided into Distributor & Dealer and Online & Exclusive Brand Outlet, with Distributor & Dealer holding a significant 90% share. While offline mattress sales from dealers and distributors dominate, the online mattress industry is represented by e-commerce-based sales.

Future Performance of India Mattress Market
According to Makreo, the India Mattress Market is projected to reach a Compound Annual Growth Rate (CAGR) of 11.06%.

Despite the predominant potential lying in the unorganized segment, the organized sector is progressively increasing its market share and is expected to constitute 37.5% of the total market. Despite initial challenges during the early stages of the pandemic, the mattress industry in India has shown growth. With a health-conscious population contributing to overall industry growth projected to be around 10-12%, the premium segment is anticipated to grow at a more robust rate of 25-40%.

Scope of the Study
The study conducted by Makreo Research on the “India Mattress Market Size and Forecast (2018-2030) - Share, Trends and Growth Opportunities by Mattress Type (Spring, PU Foam, Rubberized Coir) and End User Segments (Residential, Commercial)" provides a comprehensive analysis of the market, encompassing a wide range of factors. The report takes into account both qualitative and quantitative factors, indicating a well-rounded approach through analysis. The inclusion of both qualitative and quantitative factors in the study ensures that readers gain a clear and comprehensive understanding of the Indian mattress market. It extends beyond numerical data, encompassing an understanding of consumer behavior, industry trends, and market dynamics. This holistic approach enhances the overall analysis and makes the study a valuable resource for individuals or organizations interested in exploring the products and applications, along with the organized and unorganized mattress market in India. The report discusses in detail the past and present performance, as well as potential growth opportunities in the future, enabling readers to identify key areas of interest and investments.

The report examines opportunity for the India Mattress market on various grounds, including

• Trade Performance
• Economic, Political, Technology and Demographic Analysis
• Organized and Unorganized sector
• Past and Present Performance of the mattress industry

Market Segmentation

• By products
  • PU Foam
  • Spring Mattress
  • Memory Foam
  • Rubberized Coir
• By Application
  • Domestic/Residential
  • Commercial (Hotel/hospitals)
• By Distribution
  • Offline
  • Online

Companies Discussed

• Wakefit
• The Sleep Company
• Sleepyhead
• Sheela Foam
• Springfit
• Kurlon
• Flo Mattress

Key Questions Addressed:

1. How has the Indian economy fared historically, and what is the anticipated growth outlook for the future?
2. What are the primary challenges confronting the industry?
3. How is the mattress trade sector performing in India?
4. Which consumer group significantly influences the demand for mattresses?
5. What is the current performance status of prominent market participants in the mattress industry?
6. What significant mergers and acquisitions have occurred within the industry?
7. What is the current landscape of funding obtained by various industry players?
8. What is the market demand forecast for the mattress industry in India?
9. What are the different sectors within the mattress industry, and what are the future growth prospects for each?