Bangalore, India, April 27, 2017 --(PR.com
)-- A recent report released by premium research firm, Beige Market Intelligence, states that the memory foam market in the US is expected to grow at a CAGR of 10% and 7.09% in terms of revenue and shipment, respectively.
The report “Memory Foam Mattress Market in the US – Strategic Assessment and Forecast 2017 – 2022,” offers a detailed study on the memory foam market in the US and includes a comprehensive study of the present scenario and growth forecast till 2022. The exclusive market research report comprises 102 pages of extensive information about the market revenue and shipment during the forecast period.
Mattress Market in US
The mattress market in the US has witnessed a significant change in business dynamics in the last decade. With time and advances in mattress manufacturing technology, the market has metamorphosed from a slow-pace, no-growth market to a dynamic, aggressive market. Consumer awareness, change in lifestyles, new mattress manufacturing technology, and product innovations have altered the market dynamics. Along with the increasing demand from the Baby Boomer segment, factors such as the introduction of innovative sleeping solutions and enhanced marketing and visibility of these products online have contributed toward the growth of the mattress market in the US.
Memory Foam Mattress Market in US Market Size and Forecast
According to the analysts at Beige Market Intelligence, the memory foam mattress market shipment in the US is expected to grow at a CAGR of 7.09% during the forecast period.
Becoming a leading specialty mattress type, memory foam mattresses touched a noticeable sales figure in 2007. With the recovery in the US economy and the increase in disposable income, there is a growing demand for memory foam mattresses. Another major driver of memory foam mattress market growth in the US is the ability of these mattresses to provide comfortable sleep. With the introduction of plant-based memory foam mattresses, which provide extra cooling effects and are made up of natural plant extracts, the demand for these mattresses is expected to rise during the forecast period.
Mattress specialist retailers dominated the memory foam mattress market in the US than other distribution channels in 2016. However, online sales have been increasing significantly. Another major reason behind the high sales growth of memory foam mattresses in the US mattress market is the favourable retail environment. The retail environment in the US is known to be characterized by discounting during festive occasions such as Christmas and other occasion such as Boxing day, July 4th, and others.
In terms of revenue, the analysts expect the memory foam mattress market in the US to grow at a CAGR of more than 10% during the forecast period. The market is expected to witness a high demand for memory foam mattresses because of their reliability, durability, and convenience offered in terms of sound sleep. With advances in sleeping solutions, they deliver high performance and have become user-friendly. The US has been ranked third in the Global Competitive Index 2016−2017 after Switzerland and Singapore. This index measures the set of institutions, policies, and factors that help in setting the sustainable current and medium-term levels of economic prosperity in the country. Improved economic conditions boosted the per capita GDP in the US during 2014–2016. This drives the demand for mattresses among end-users and the high growth revenue of the memory foam mattress market.
About Beige Market Intelligence
Beige Market Intelligence is a provider of competitive business intelligence, working across various industry verticals. Our expertise and knowledge ensures that the market analysis Beige provides is comprehensive, detailed and complete. The analysis helps our client organizations become aware and to make educated decisions, as far as investing or devising a marketing strategy is concerned. The actionable insights delivered through our market research provide a comprehensive market analysis for every level of market segmentation in an industry.