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A hybrid mattress is a multi-layered mattress with a combination of foam for comfort, and pocket sprung design for support. The hybrid mattress promises to remain ahead of the branding race in key markets like the United States, as growing awareness about the need for different layers, and growing demand for treat chronic pain among the elderly remain powerful drivers for growth in the global hybrid mattress market. Moreover, according to the IFC, a sister organization of the World Bank, the construction industry is expected to grow at 4.2% globally, during 2018-2023 period. The growth in construction is likely to come in all segments including residential, infrastructure, and non-residential sector. The growing demand for housing in developing countries, and promise of new mobile homes in countries like the United States will becoming major opportunities for growth in the global hybrid mattress market.
The Growth of E-commerce Remains a Major Draw for Growth Globally
In key regions of the globe like North America, and Europe, the consolidation due to branding in products had become a barrier to growth for the products like mattresses. On one hand, the mattresses remain essential to core needs of establishing a peaceful, and robust sleeping routine. Moreover, the branding, and recent research outlining the flaws with conventional mattresses for back-pain has also eroded consumer trust. The growth of e-commerce, and availability of generic products will remain a major driver of growth in the global hybrid mattress market. The e-commerce remains a key driver for retail in many aspects. According to the US department of commerce, e-commerce sales totalled $791.70 billion in 2020, rising at 32.4% from 58.02 billion in 2019. The growth is remarkable, and doubled in growth rate (15.1% year-on-year in 2019) to reach this milestone. The rising demand for hybrid mattress, growing demand for generic products, and advent of e-commerce will present major opportunities for growth in the global hybrid mattress market.
Growth of Offline Retail to Promise New Opportunities for Growth
The offline retail commerce also remains a promising driver for growth in the global hybrid mattress market. Despite the strong momentum for online commerce, the offline commerce presents new opportunities for branding, and meeting demand from consumers who prefer to experience products before purchase. The establishment of large, and cost-effective retail chains like IKEA, among others also promise robust opportunities for growth. The rising disposable income among individuals with high net worth also presents new opportunities for growth as demand for chronic diseases like back pain, increasing information available online about the health benefits for specific mattresses, and growing competition in the offline market will present new opportunities for growth in the global hybrid mattress market.
The global hybrid mattress remains a competitive, and innovative landscape, thanks to burgeoning developments in e-commerce. The growing focus on innovation, and reaching consumers through price-conscious, and branding choices will present new opportunities for growth. Some key players in the global hybrid mattress market are Casper Sleep Inc.,
Kingsdown Inc., Kurlon Enterprise Ltd., Kurlon Enterprise Ltd., Leggett & Platt Inc., and Saatva Inc.
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