Home Bedding Market

The global home bedding market is expected to grow at a rapid pace during the review period. The growth of the global home bedding market is attributed to the robust growth of the real estate industry, followed by consumer preference for branded home bedding. Growing demand for sustainable products and rising traction for smart mattresses are anticipated to drive the growth of the global home bedding market during the forecast period. However, the presence of a strong unorganized market selling home bedding is likely to hamper the market growth during the review period.

Population growth and rapid urbanization are driving the growth of the real estate industry across the globe, which is resulting in an increase in residential and commercial construction. According to the UN Department of Economic and Social Affairs (UNDESA), the urban population across the globe has increased from 751 million in 1950 to 4.2 billion in 2018. Asia-Pacific accounts for 54% of the world’s urban population, while In North America, 82% of the population lives in urban areas; in Latin America and the Caribbean, the urban population was 81%; in Europe, it was 74%, and in Oceania 68%.

The above figure depicts the sharp rise in the urban population across the globe from 2017 to 2025.

According to a recent study by MRFR, the urban population is projected to increase by 78% to 6.45 billion by 2050 from 3.7 billion in 2010. Additionally, stable economic growth in the emerging economies in Asia-Pacific, such as India and China, is expected to boost urbanization in the coming years. Moreover, with the increase in per capita disposable income, consumers are investing in home decor, including beddings.

These factors are projected to propel the growth of the global home bedding market during the forecast period from 2019 to 2025.

In light of sustainability, homeowners and designers are incorporating eco-friendly elements in remodeling projects and new construction. Thus, key market players have begun introducing eco-friendly mattresses with environment-friendly materials such as certified organic latex and wool and organic cotton. For instance, in January 2019, Parachute introduced an organic and eco-friendly mattress in the US to meet the rising demand in North America. Also, Grund, a brand of Live Grund is a family run business which offers products that are entirely made from organic material, without the use of bleach, formaldehyde, or any other toxic substances or dyes. The focus on sustainability and environment-friendly home furnishing products offers key market players lucrative opportunities for growth during the forecast period.

The global home bedding market is highly fragmented, with a number of players across the globe. There is stiff competition among the key players in terms of design, raw materials, supply chain, and after-sales services. However, the major factor affecting the growth of these companies is the presence of a strong unorganized sector. The sales of the key players are greatly hampered by local vendors due to the latter’s easy availability, lower prices, and customization. Moreover, individuals are still dependent on the unorganized sector for home furnishing products. The majority of consumers are also price sensitive, which makes it difficult for market players to establish their dominance.

Additionally, the growing number of private label brands offering home beddings are largely unaccounted for, which creates a gap between the production volume and the revenue generated in the global home bedding market. Retailers worldwide are aiming at offering own brands for products to increase revenue generation. According to MRFR analysis, retailer sales have increased by approximately 30% over the past two years, largely due to the provision of private-label brands. Local manufacturers offer home beddings that are customized for and cater to the market needs and planned inventories of retailers. Such manufacturers also sell their products in the unorganized market, thereby limiting the growth of players in the global home bedding market. Furthermore, the quality and functionality of the products manufactured by local companies are inferior to those offered by established market players who have achieved economies of scale with high spending on raw materials and technology.