LUXURY BEDDING MARKET ANALYSIS

Luxury Bedding MarketSize and Trends

The global luxury bedding market was valued at US$ 2.3 Billion in 2022 and is expected to exhibit a CAGR of 3.38%, in terms of revenue over the forecast period (2023-2030), to reach US$ 3.0 Billion by 2030.

Segmentation Analysis:

The Global Luxury Bedding Market Analysis is segmented by product type, by distribution channel, by application. By product type, it is segmented into comforters, pillows, coverlet, duvet, quilt, mattress pad and protector, others (bed skirt, Furs, and others). By application, it is segmented into residential and commercial. By distribution channel, it is segmented into supermarkets, hypermarkets, online channels, and specialty stores. The global luxury bedding market analysis was conducted across Asia Pacific, North America, Latin America, Europe, Middle East, and Africa.

Global Luxury Bedding Market- Impact of Coronavirus (Covid-19) Pandemic

As the COVID-19 pandemic has hit every industry hard, the sleep and wellness industry too is trying out newer strategies to cope with its impact. Mathew Chandy, Managing Director, Duroflex – one of the leading mattress brands in the India, on 2021, said in an interview with a business news website that the company’s focus has shifted from profitability to liquidity in these times of crisis. With a majority of professionals working from home, Duroflex has been putting across a positive message in these times of gloom, focusing on the importance of sleep hygiene to stay focused on work.

Figure 1. Global Luxury bedding Market Share (%), By Distribution Channel, 2022

The global luxury bedding market is expected to expand at a CAGR of 2.6 % in terms of revenue, during 2023– 2030. Luxury bedding offers benefits such as peace of mind and aids in deep sleep, which is expected to be a major factor for increasing demand among consumers, which in turn drives the growth of the global luxury bedding market.

Among distribution channels, online channel segment exhibited 40% growth in 2022, and it is expected to grow during the forecast period, owing to the increasing e-commerce sector. Luxury bedding products are available in the market in different varieties, colors, and patterns. Discounts offered by online channels help in retaining consumers, which could increase the growth of the market. E-commerce allows mattress and textile startups to purchase products directly from manufacturers and sell directly to consumers, which reduces transportation charges and allows for a significant reduction in the price of luxury goods.

Figure 2. Global Luxury Bedding Market Share (%), By Region, 2022