Mattress Manufacturing
Description
Companies in this industry manufacture mattresses and box springs. Major companies include US-based Leggett & Platt, Serta Simmons Bedding, Sleep Number, and Tempur Sealy International, as well as Hilding Anders International (Sweden), Recticel (Belgium), and Shandong Fengyang Group (China).
The global mattress market is forecast to reach nearly $110 billion by 2034 with about 7% compound annual growth rate (CAGR), according to Fortune Business Insights. The demand for mattresses is expected to rise post-pandemic due to the increasing number of hospital beds worldwide in preparation for any health emergency. Asia Pacific (APAC) region will remain a dominant market due to the increasing footfall at regional hotels and an increase in the disposable income of the middle class.
The US mattress manufacturing industry includes about 400 establishments (single-location firms and units of multi-location firms) with combined annual revenue of about $8 billion.
COMPETITIVE LANDSCAPE
Demand for mattresses is driven by consumer confidence, disposable income, and population growth. The profitability of individual companies depends on efficient operations and effective marketing. Large companies enjoy economies of scale in manufacturing, marketing, and distribution. Small companies can compete by offering new technologies or better customer service, or by focusing on regional markets. The US industry is highly concentrated: the top 50 companies account for about 90% of industry revenue.
Because mattresses are expensive to ship relative to their value, competition from imports is limited. US imports as of 2023 are mainly from Mexico, Indonesia, Burma, Kosovo, and Taiwan. Meanwhile, US exporting countries include Canada, Mexico, South Korea, Japan, and China.
PRODUCTS, OPERATIONS & TECHNOLOGY
Innerspring mattresses account for about 65% of industry revenue; other types of mattresses account for about 20%. Other products include foundations (about 5%), sleep system ensembles, metal indoor household furniture, and wire spring units.
Modern innerspring mattresses are one-sided “hybrids” that combine traditional inner metal springs with foam for increased comfort. One-sided hybrid mattresses feature innersprings that are encased in latex, gel, or memory foam which is then covered in a cut-and-sewn zippered cover. Traditional two-sided innerspring mattresses have become increasingly uncommon in recent years.
Foam mattresses are typically made using chemical and additive formulas, which may be proprietary and protected by patents. Most companies purchase other mattress components, including sewn mattress covers, air mattress air chambers, bases, foundations, fabrics, and zippers, from suppliers.
Among innerspring mattresses, different metal coil manufacturing methods and design configurations result in comfort and durability variations. Latex foam is breathable, so it "sleeps cooler” than many other kinds of foam -- a feature sought by some consumers. Visco-elastic memory foam responds to body temperature and conforms to body shape, but it can feel warmer to sleep on than other types of foam. To appeal to as many consumer preferences as possible, companies often develop multiple lines of mattress products that offer a range of performance characteristics, manufacturing techniques, and design features.
The global mattress market is forecast to reach nearly $110 billion by 2034 with about 7% compound annual growth rate (CAGR), according to Fortune Business Insights. The demand for mattresses is expected to rise post-pandemic due to the increasing number of hospital beds worldwide in preparation for any health emergency. Asia Pacific (APAC) region will remain a dominant market due to the increasing footfall at regional hotels and an increase in the disposable income of the middle class.
The US mattress manufacturing industry includes about 400 establishments (single-location firms and units of multi-location firms) with combined annual revenue of about $8 billion.
COMPETITIVE LANDSCAPE
Demand for mattresses is driven by consumer confidence, disposable income, and population growth. The profitability of individual companies depends on efficient operations and effective marketing. Large companies enjoy economies of scale in manufacturing, marketing, and distribution. Small companies can compete by offering new technologies or better customer service, or by focusing on regional markets. The US industry is highly concentrated: the top 50 companies account for about 90% of industry revenue.
Because mattresses are expensive to ship relative to their value, competition from imports is limited. US imports as of 2023 are mainly from Mexico, Indonesia, Burma, Kosovo, and Taiwan. Meanwhile, US exporting countries include Canada, Mexico, South Korea, Japan, and China.
PRODUCTS, OPERATIONS & TECHNOLOGY
Innerspring mattresses account for about 65% of industry revenue; other types of mattresses account for about 20%. Other products include foundations (about 5%), sleep system ensembles, metal indoor household furniture, and wire spring units.
Modern innerspring mattresses are one-sided “hybrids” that combine traditional inner metal springs with foam for increased comfort. One-sided hybrid mattresses feature innersprings that are encased in latex, gel, or memory foam which is then covered in a cut-and-sewn zippered cover. Traditional two-sided innerspring mattresses have become increasingly uncommon in recent years.
Foam mattresses are typically made using chemical and additive formulas, which may be proprietary and protected by patents. Most companies purchase other mattress components, including sewn mattress covers, air mattress air chambers, bases, foundations, fabrics, and zippers, from suppliers.
Among innerspring mattresses, different metal coil manufacturing methods and design configurations result in comfort and durability variations. Latex foam is breathable, so it "sleeps cooler” than many other kinds of foam -- a feature sought by some consumers. Visco-elastic memory foam responds to body temperature and conforms to body shape, but it can feel warmer to sleep on than other types of foam. To appeal to as many consumer preferences as possible, companies often develop multiple lines of mattress products that offer a range of performance characteristics, manufacturing techniques, and design features.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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