Market Size of Australia Mattress Industry
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 0.82 Billion |
| Market Size (2028) | USD 1.10 Billion |
| CAGR (2023 - 2028) | 6.05 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Mattress Market Analysis
The Australia Mattress Market size is expected to grow from USD 0.82 billion in 2023 to USD 1.10 billion by 2028, at a CAGR of 6.05% during the forecast period (2023-2028).
Australia's mattress market developed rapidly due to the growing population in Australia, increasing income levels, and the booming housing market. Other major reasons include the growth of international trade in current times.
The homecare and furniture industries were growing exponentially, but with the outbreak of the COVID-19 pandemic, there was a rapid decline in the growth of the mattress market. Australia's forty percent of all households are adjusting to a reduction in household income, with Generation Z (born 1996–2012) and millennials (born 1980–95) the most affected and least confident of a recovery. Shoppers expect to reduce their discretionary spending, except for grocery and household products, across most purchase categories. Furthermore, despite the overall downturn in spending, online shopping and digital activity have grown, mainly driven by consumers that have maintained their household income. There was an initial decline in the demand for bedding products, such as mattresses. However, due to work-from-home and social distancing measures, more and more people are staying at their homes. The usage of social media and other online channels increased multi-fold. As homes started becoming the new hubs for work and family time, people are spending even non-sleeping hours on their beds. All these factors lead to the increase in demand for high-quality mattresses.
Australia's mattress industry is still affected by other factors, such as the speed of renovating existing houses, expansion of new houses, and innovation in traditional sleep concepts. Consumer groups are expanding in Australia's mattress market and have the potential for further development. Consumers in the market highly regard a functional and healthy mattress due to changing lifestyles and sleep disorders. Replacement of bedding is forecasted to lead to the growth of the mattress market in Australia.
