How Is Rapid Urban Migration Steering Mattress Market Growth?

Factors such as the flourishing tourism industry and the escalating consumer awareness about personal health are expected to drive the mattress market at a CAGR of 7.0% during the forecast period (2021–2030). According to P&S Intelligence, the market revenue will surge from $32,875.3 million in 2020 to $64,045.5 million by 2030. Moreover, the mounting disposable income of people and accelerating migration rate from rural to urban areas will also support the market growth in the forthcoming years.

The booming urban population, owing to the rapid migration from rural to urban areas, is one of the leading factors behind the high demand for mattresses across the world. According to the 2018 Revision of World Urbanization Prospects published by the United Nations Department of Economic and Social Affairs (UNDESA), 68% of the global population will reside in urban areas by 2050. The UNDESA also forecasts that China, India, and Nigeria will add around 255 million, 416 million, and 189 million urban dwellers, respectively, by 2050.

Globally, the Asia-Pacific (APAC) mattress market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period, due to the vast population of China, Indonesia, and India. Moreover, the improving lifestyle of people in developing countries, such as Malaysia, Thailand, and India, owing to their surging disposable income, will also support the market growth in the region in the forthcoming years.

Additionally, the rising health awareness among customers will also drive the demand for technologically advanced mattresses in the foreseeable future.
Thus, the escalating migration from rural to urban areas and the soaring disposable income of people will augment the demand for mattresses in the upcoming years.