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  • Published On : Mar 2023
  • Code : CMI2139
  • Pages :125
  • Formats :
      Excel and PDF
  • Industry : Consumer Goods

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.

Driver:

Increasing use of soft, organic materials:

Luxury bedding brands offer various high-quality, soft, and organic collections such as organic flax yarn, organic cotton, and flax linen sipped in plastic-free packaging. The soft and high-quality materials are smooth sateen, rich velvet, fine Italian, and Belgian linen. These materials are more comfortable. Organic bedding is created without any harsh chemicals, such as pesticides or harsh chemical cleaners and fabric treatment. For instance, The APEDA(Agricultural and Processed Food Products Export Development Authority), Ministry of Commerce & Industries, Government of India is implementing the National Programme for Organic Production (NPOP), in December 2021, the program involves the accreditation of Certification Bodies, standards for organic production, promotion of organic farming and marketing, etc. The NPOP standards for production and accreditation system have been recognized by European Commission and Switzerland for unprocessed plant products as equivalent to their country standards. With these recognitions, Indian organic products duly certified by the accredited certification bodies of India are accepted by the importing countries. APEDA is also in the process of negotiation with South Korea, Taiwan, Canada, Japan, etc.

Restraint:

Rising cost of silk:

Silk is very expensive because of its limited availability and costly production. It takes more than 5,000 silkworms to produce just one kilogram of silk. The farming, killing, and harvesting of thousands of silkworms to produce cocoons are resource-heavy, labor-intensive, and costly processes. For instance, in November 2022, India’s total production of cotton in the year 2021-22 was 34.1 million bales (bales of 170 kg each). the Central Zone (which comprises states like Gujarat, Maharashtra, and Madhya Pradesh) is the biggest producer of cotton in India, with Gujarat being the highest producer of the Central Zone and the country at 8.516 million bales. Saurashtra (Saurashtra, also known as Sorath or Kathiawar, is a peninsular region of Gujarat, India, located on the Arabian Sea coast.)constitutes about 70% of Gujarat’s cotton production, with farmers in Amreli - the state’s largest cotton district – playing a key role. Yavatamal, Buldhana, Akola Amravati Nagpur Washim, and Wardha are the districts of Vidarbha which are Maharashtra’s major cotton-producing areas. This restraint is avoidable by using cotton or natural material for production.

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

LUXURY BEDDING MARKET

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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.

Luxury Bedding Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2022: US$ 2.3 Bn
Historical Data for: 2017-2021 Estimated Year: 2023
Forecast Period 2023 to 2030 CAGR: 3.38% Forecast Period: 2023-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Middle East, Africa, and Asia Pacific
Segments covered:
  • By Product Type: Comforters, Pillows, Coverlet, Duvet, Quilt, Mattress Pad and Protector, Others (Bed Skirt, Furs, and others)
  • By Distribution Channel: Supermarkets, Hypermarkets, Specialty Stores, Online Channels
  • By Application: Residential, Commercial
Companies covered:

Some of the key players operating in the global luxury bedding market include Frette Inc., WestPoint Home LLC, Hollander Sleep Products LLC, Crane & Canopy Inc., Sampedro LDA, Anichini Inc., Sleepy's, LLC, Peacock Alley Inc., Fabtex, Inc., Luolai Lifestyle Technology Co., Ltd, John Cotton Group Ltd, Anderson Avenue, Eastern Accents, and DownTown Company.

Growth Drivers:
  • Increasing Use of Soft, Organic Materials
Restraints & Challenges:
  • Rising Cost of Silk Material

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

LUXURY BEDDING MARKET

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Asia Pacific accounted for the largest revenue share of 35% in the global luxury bedding market in 2022 and is expected to maintain its dominance over the forecast period. The main factor attributed to the growth of Asia Pacific in the  global luxury bedding market is due to the high presence of key players and new strategies employed by them for business expansion.

Europe is expected to account for a significant market share in the global luxury bedding market, in terms of revenue over the forecast period. Launches of new brands by key players and the increasing number of start-ups of luxury bedding in the region is expected to drive the growth of the market. Key players and startups are employing similar strategies as traditional luxury brands to expand business. For instance, in November 2022, Flex Bedding Group, the parent company of E.S. Kluft & Co., acquired Germany’s leading producer of luxury mattresses and beds. A nearly 100-year-old family-owned manufacturer that operates in Germany, Austria, and Switzerland and employs 185, allows Flex to shore up its position in the premium sleep sector. The deal includes the company’s headquarters in Winnweiler, Rhineland-Palatinate, Germany.

Recent Development:

In November 2022, Springfit Mattress owner VFI Group has acquired a 100 percent stake in the Indian arm of U.S.-based Serta Mattress from its licensee Emirates Sleep System. Through the relationship with VFI Group, they will be expanding products in India and gaining consumer attention.

In March 2022, Allied Homes, the bedding manufacturer, extended its bedding collection made with 37.5 Technology to complement and align with the performance technology’s layering system. Bedding with 37.5 Technology helps keep sleepers warm when they are too cold and cools them down when they are too hot, by helping to keep the optimum relative humidity in the personal microclimate created within the bedding.

On January 24, 2023, Luxury bedding manufacturer, Kingsdown, Inc. has been inspired by the growing sustainability movement and intriguing stories of the earth’s Blue Zones, for its new foam collection set for the Winter Market in Las Vegas. The new Blue Zone collection, featuring four mattresses at the “next level of sustainability,” will make its official debut in the Kingsdown showroom, space C1401.   

On January 17, 2023, with head-turning fabric patterns and colors designed to stop shoppers in their tracks, Mike James, chairman of Kingsdown, Inc., is injecting the bedding category at the Winter Market in Las Vegas with the kind of visual appeal, high-fashion design aesthetic and excitement more typically associated with apparel runways.

Major Players in the Global Luxury Bedding Market

Some of the key players operating in the global luxury bedding market include Frette Inc., WestPoint Home LLC, Hollander Sleep Products LLC, Crane & Canopy Inc., Sampedro LDA, Anichini Inc., Sleepy's, LLC, Peacock Alley Inc., Fabtex, Inc., Luolai Lifestyle Technology Co., Ltd, John Cotton Group Ltd, Anderson Avenue, Eastern Accents, and DownTown Company.

Market Definition:

Luxury bedding is used for decorative purposes, aesthetic beauty, and, comfort. Luxury bedding is made of natural materials such as silk and cotton, which are anti-microbial and free of chemicals. Colored luxury bedding has soft hues made of organic vegetable dyes. Most of the luxury bedding is produced in Europe, where the use of chemical ingredients is restricted.

Most of the luxury bed items are of white and ivory color. Luxury mattresses and pillows are supposed to provide neck and back support during sleep, conforming to the body, and relieving pressure points. Luxury sheets and bedding also induce deep slumber as they are less abrasive to the touch and softer due to better weaving, ample threads, and the rawness of materials.

Frequently Asked Questions

The global luxury bedding market is estimated to surpass US$ 2.3 Billion by 2030.

Some of the key players operating in the market include Frette Inc., WestPoint Home LLC, Hollander Sleep Products LLC, Crane & Canopy Inc., Sampedro LDA, Anichini Inc., Sleepy's, LLC, Peacock Alley Inc., Fabtex, Inc., Luolai Lifestyle Technology Co., Ltd, John Cotton Group Ltd, Anderson Avenue, Eastern Accents, and DownTown Company.

Online Channel segment based on distribution channel, accounted for the highest demand in the market.

Increasing use of soft, organic materials is the key factor driving the growth of the market.

The Compound Annual Growth Rate (CAGR) of the market for 2023-2030 is 3.38%.

Asia Pacific is dominating the market growth.

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