India's Mattress Industry - Transformative Growth and Innovations

Explore India's thriving mattress market with diverse trends, organized sector growth, and projections. Uncover insights for informed investments and market exploration.
By: Makreo Research and Consulting
 
MUMBAI, India - Jan. 4, 2024 - PRLog -- The organized modern mattress market in India, dominated by Polyurethane (PU) Foam mattresses, is experiencing remarkable growth, driven by evolving consumer preferences, technological advancements, and a focus on quality sleep. Analysts predict an impressive Compound Annual Growth Rate (CAGR) of 11.06% from 2023 to 2030, highlighting a flourishing market landscape.

Market Statistics
The Indian mattress market comprises around 18.6 million units, with an annual demand of 7 million units. The average mattress lifespan of 12 years generates a replacement demand of 11.6 million units. The furniture channel contributes significantly, representing 50% of total mattress sales.

Consumer Shift and Innovations
Consumers demand superior products, leading to increased adoption of advanced materials and technologies. Recent developments include Centuary India's customizable and cost-effective mattresses campaign and Sleep Number Corporation's AI-based smart bed, offering real-time health insights.

Market Dynamics
Consumer behavior reflects an average payment of INR 9500 for organized sector brands and INR 3000-5000 for unbranded mattresses. Cash transactions remain dominant (73%), with notable sales concentrations in Andhra Pradesh, Tamil Nadu, and Kerala. However, states like West Bengal, Bihar, and Orissa show growth potential.

Competitive Landscape and Urbanization
The market is fragmented, with brands holding 40% market share, led by Sleepwell and Kurlon. Urbanization trends continue to influence demand as the organized sector's market share grows from 33% in FY12 to 40% in FY22.

Soaring Imports
Mattress imports reached USD 18M in 2022, with expectations of continued growth. The average export price per unit was $9.8, witnessing a slight decrease.

Transformative Journey Ahead
The Indian mattress market is undergoing a transformative phase, offering vast opportunities for industry players. Despite disruptions in the hotel industry during the Covid-19 pandemic, a robust recovery is forecasted, contributing to the overall growth in revenue for the hotel industry in FY2024. As the market evolves, manufacturers are expected to invest in research and development to meet diverse consumer needs.

Conclusion
The Makreo Research study provides a comprehensive analysis of the India Mattress Market, encompassing qualitative and quantitative factors. This holistic approach makes the study valuable for individuals or organizations interested in exploring the organized and unorganized mattress market in India, offering insights into past performance, present dynamics, and future growth opportunities.

For More Information:
India Mattress Market Size and Forecast (2018-2030) (https://www.makreo.com/report/india-mattress-market-size-...)

Related Reports:

Asia-Pacific Mattress Market Size and Forecast (2018-2030) (https://www.makreo.com/report/asia-pacific-mattress-marke...)

Europe Mattress Market Size and Forecast (2018-2030) (https://www.makreo.com/report/europe-mattress-market-size-and-forecast-2018-2030)

Contact
Meetu Bhasin
***@makreo.com
+91-9619699069
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Source:Makreo Research and Consulting
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Location:Mumbai - Maharashtra - India
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