India Mattresses Market Report - 2020

The mattress market of India is dominated by small and unorganized players. These players specialize in coir, cotton and foam mattresses, which cater to almost ~% of the country’s requirement for mattresses. The spring mattress area is still in its nascent stages in the country and is gradually evolving. The people are becoming more conscious of their health and lifestyle which is leading to a rise in the awareness of the relation between good sleep and a good quality mattress, especially among the youth. During FY’2015, the major market players produced approximately ~ million units of mattress to fulfill the mattress demand of mattress in India. During the same year, sale of mattress were registered at ~% of the total production. Hence, the total sales of mattress were valued at ~million units during FY’2015.

In FY’2010, the revenues of the mattresses market were registered as INR ~billion, which inclined to INR ~billion by FY’2011. The growing home ownership rates due to the rising population and rising preferences for nuclear families have also been contributing factors that have impelled the growth of the respective market. Owed to this, mattress market in India witnessed a surge in the revenue generation and in FY’2012, the market posted INR ~billion of business in the aforementioned year. Since the disposable income has been witnessing a rising trend year on year, the consumers are willing to pay extra for such health enhancing products thereby contributing towards the upsurge of the revenues of mattress market. Therefore, in FY’2015 the mattress market in India revenues were valued at INR ~ billion and posted a CAGR of ~ % since FY’2010.FY’2015.

In FY’2015, King size mattresses accounted for ~% of the overall market revenues, amounting to INR ~ billion. The demand for king size mattress retained the upsurge during the year as it has been considered the ideal and best choice for the households who prefer maximum space for quality sleep and comfort. King size mattresses were followed by Queen Size mattress, which held ~% share in the revenues of the overall market in India. It posted the revenues of INR ~ billion during FY’2015. Furthermore, single size mattress posted the revenues of INR ~ billion during FY’2015 thereby holding approximately ~% share in the total revenues of the mattress market.

In the year 2015, it was estimated that king size mattress garnered the highest share in the total production of mattress in India. During FY’2015, king size mattress contributed approximately ~% to the total production process of mattress. Similarly, as queen size mattress is also gaining popularity gradually and the respective size of mattress constituted similar share in the mattress production in the fiscal. The last segment under the size of mattress namely; single size mattress also held around 20% share in the total production. During the period FY’2010-FY’2015, the share of spring mattresses in overall revenues has inclined from ~% in FY’2010 to~% in FY’2015. In FY’2015, revenues of spring mattresses accounted INR ~billion of the overall market revenues. The second major contributor to the market has been Coir mattresses, which contributed ~% of the market revenues in FY’2015 as against contribution of ~% in FY’2010. Foam mattresses emerged as third major contributor the overall market revenues in FY’2015. Foam mattress withheld a revenue contribution of ~% in the year FY’ 2015.

During FY’2015, coir mattress held significant contribution in the total production of mattress in contrast to other type of mattress namely; spring and foam mattress during the fiscal. Whereas, spring mattress held ~% share in the total production of mattress in FY’2015. Considering the foam mattress, in FY’2015, the respective type of mattress constituted around ~% in the total production process of mattress in India in contrast to ~% in FY’2010. India mattress market has been segmented into two market structures namely unorganized and organized market players. The unorganized sector of mattress market comprises of local Indian brands and small manufacturers which constituted a major share in Indian mattress market during FY’ 2015. The unorganized players held approximately ~% share in the FY’2015 declining from ~% in FY’2010. Mattress market has also been classified into organized segment which comprises of branded market players who manufacture high quality mattress by using spring, premium foam combinations and niche products.

During FY’2015, organized market players captured the bigger slice of the market in terms of total production. Organized market players held ~% share in the total production of mattress in India during the fiscal. Additionally, unorganized mattress players held remaining ~%share in the total production of mattress in India during FY’2015. The distribution channel of mattresses in India has gone through major transformation over the last decade and has witnessed a noticeable shift in the recent years FY’2010-FY’2015. Retail segment under mattress market occupied the major share of ~% in the overall sales of mattress in India during FY’2015. Online mode of distribution has occupied minimum share of 10% during FY’2015 and engendered the revenues of INR ~billion during the year.

Real Estate and the hospitality sector are considered as an important source of revenue for mattress market in India. In FY’ 2015, residential households occupied the major position in the demand of mattress in India and held approximately ~% share in the mattress market. Similarly, institutions such as hospitals and hotels contributed approximately ~% in the revenue generation during FY’2015. The mattress market of India is highly competitive with numerous numbers of organized players operating in the market. The market is though dominated by few leading brands namely Kurlon, Sleepwell, Peps and Springwel. Kurlon is the market leader the mattress market in India with a revenue contribution of ~% in FY’2015. Sleepwell is the second major player with a market share of ~% in terms of revenue in India mattresses market in FY’2015, with revenues reported as INR ~ billion.

Springwel mattresses withheld a revenue contribution of ~% to the overall market for mattresses in India, with revenues being reported as INR ~ billion in 2015. Additionally, Peps accounted for ~% of market revenues in FY’ 2015. Coirfoam Ltd (brand Corfoam) with a market share of ~% in the overall organized market of mattresses in India. Other palyers in market including Tempur Pedic, King Koil, Duroflex, Godrej Interio and others accounted for market share of ~% in the organized market of mattresses in India. The market for spring mattresses in India has been dominated by Peps industries which garnered ~% share of the overall spring mattresses market revenues in FY’2015. Additionally, Kurlon emerged as the second major player in the spring mattresses market of India, with revenue contribution of ~% to overall market revenues in FY’2015.

Sleepwell has been noted as the third major player in the India Organized spring mattresses with revenue contribution of ~% in FY’2015. The fourth major player in the spring mattresses market of India was Springwel. Coirfoam also garnered 5.2% of the overall organized spring mattresses market revenues. In addition to these major players other organized players such as King Koil, Duroflex, Godrej Interio, Rubco and others accounted for ~% of the overall organized spring mattresses market revenues during the period FY’2015. Kurlon is the leader in coir branded mattresses and sells its products particularly in southern part of India. The Rubberized coir mattresses were developed by the company which were firm in quality and were reasonably priced. The company registered a market share of ~ with market revenues of INR ~ billion in the overall coir mattresses market of India. The second major leader in the market for coir mattresses in India has been Godrej.

Springwel and Sleepwell accounted for market share of ~% and ~% respectively in the overall organized coir mattresses market revenues of India in FY’2015. Apart from this, other players such as Tempur Pedic, King Koil, Duroflex, and others registered a market contribution of ~% in the overall organized coir mattresses market of India in FY’2015 The market for foam mattresses in India has been dominated by few large players in the organized market space, with players such as Kurlon, Springwel and Sleepwell accounting for ~% of the overall market share in FY’2015. Kurlon emerged as the leading player in the foam mattresses market of India with revenue contribution of ~% in FY’2015. Springwel registered market contribution of ~% to the overall organized foam mattresses market revenues in FY’2015. Apart from these major players, Coirfoam also registered 7.2% contribution towards the revenues of foam mattresses market in India during FY’2015.

Furthermore, other organized players including Tempur Pedic, King Koil, Duroflex, and others accounted for ~% of the overall organized market revenues of India foam mattresses market, with revenues being noted as INR ~ in FY’2015. India mattresses market holds a great potential owing to the development of premium category products, rising advertisement and promotional efforts by manufacturing companies to make consumers aware particularly in rural areas along with the rising awareness levels leading to higher adoption rate of mattresses. During the forecasted period (FY’2016-FY2020), the market for mattresses in India is projected to inclined at a CAGR of ~% and reach INR ~ billion by FY’2020. The rapid augmentation in the market would be witnessed majorly on account of rapidly surging real estate and hospitality sector along with rising trend of nuclear families in India.

The mattress market is also witnessing changes in terms of products demanded by Indian consumers. The sale of spring mattress has been on a continuous rise and is anticipated to take over the sale of coir mattress in the near future. Additionally, purchase of good quality hybrid mattress is becoming more prominent with the increasing health concerns and back pains among the people. Owed to this, number of organized market players has diverted their focus on the production of specialized or hybrid mattress. In future during the outlook period, FY’2016-FY’2020, Spring mattress are projected to reach INR ~ billion by FY’2020 growing at a CAGR of ~% from INR ~ billion in FY’2016. The upcoming of new players in mattress segment of furnishing market in India is expected to propel the growth of spring mattress. The future performance of coir mattress market it is expected to witness a stable growth in its revenue from INR 18.2 billion in FY’2016 to INR ~ billion by FY’2020. It is forecasted that coir mattress market will grow at a steady CAGR of ~% over the respective five year period.

Additionally, entry of more players and rising better and competitive prices prevalent for these segments of mattress in the future is further expected to bring huge scope for expansion and development for the major market players operating in India.The foam mattress market is projected to incline in the future at an annualized rate of ~% to reach INR ~ billion by FY’2020 from INR ~ billion during FY’2016. The market of foam mattress is expected to witness a stiff competition and the demand for the mattress is in continuous growth stage. The e-commerce industry is poised to witness huge growth rates in the future owing to the vast consumer base seeking solutions online for their every day needs. This industry which started a few years ago poses a huge competition for retailers. The apprehensions which were attached with online shopping have slowly faded away due to the large number of services offered by the online retailers.

The market has witnessed presence of players such as Urban Ladder, MebelKart, Fab furnish and many others, that have been deploying greater amount of resources in order to meet the expectations of their customers. During FY’2015, spring mattress constituted dominating share in the online mattress market of India the share of spring mattresses was registered at ~% in the total revenues of the online mattresses market. Furthermore, coir and foam mattress collectively held ~% of share of market revenues in FY’2015.

The market for online sale of mattresses in India has been dominated by major mattresses manufacturers such as Kurlon, Sleepwell Peps and Springwel. These players have their online portal through which they sell different variety of mattresses in order to meet the rising customers demand, in FY’2015, these players collectively accounted for ~% of the overall revenues of the online mattresses market in India.Kurlon accounted for ~% share of the overall online mattresses market revenues. Sleepwell emerged as the second leading players in sale of mattresses through their online portal. In FY’2015, Pepperfry was observed to be another major player in the India online mattresses market, with a percentage share of ~% in terms of revenues

Considering the future prospects of the mattress market in online space, India’s overall retail opportunity is forecasted to be substantial. Owed to the demographic dividend such as rising young population, rising standards of living the demand for mattress from e-commerce portals is expected to witness an uptrend. The India online mattress market is booming consistently and is pegged to become INR 22.3 billion market in FY’2020 from INR ~ billion in FY’2016. It is projected that online mattress market will account approximately ~% of the India’s mattress market in the next five year period. The huge and immense opportunities laying ahead for the online retailers under the respective mattress segment is expected to bring a growth rate of approximately ~% over the outlook period FY’2016-FY’2020. The market revenues for online mattresses market in future have been projected to augment to INR ~ billion by FY’2020.

• Source: https://www.kenresearch.com/consumer-products-and-retail/home-and-office-furnishings/india-mattress-market-revised-edition/10624-95.html

• Contact: Ken ResearchAnkur Gupta, Head Marketing & CommunicationsAnkur@kenresearch.com+91-9015378249

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