Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Luxury Bedding Market – Insights
Luxury bedding is used for decorative purpose for aesthetic beauty and for comfort. Luxury bedding are made of natural materials such as silk and cotton, which are anti-microbial and are free of chemicals. Colored luxury bedding have soft hues made of organic vegetable dyes. Most of the luxury bedding are 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 body and relieving pressure points. Luxury sheets and bedding also induce deep slumber as they are less abrasive to touch and softer due to better weaving, ample threads, and rawness of materials.
Figure 1. Global Luxury bedding Market Share (%), By Distribution Channel, 2017
Source: Coherent Market Insights, 2017-18
The global luxury bedding market was valued at US$ 2.02 billion in 2017, and is expected to expand at a CAGR of 2.6 % in terms of revenue, during 2018– 2025. Luxury bedding offers benefits such as peace of mind and aids in deep sleep, which is expected to be major factor for increasing demand among consumers, which in turn drives growth of the global luxury beddings market.
Among distribution channels, online channel segment exhibited significant growth in 2017, and it is expected to grow during the forecast period, owing to increasing e-commerce sector. Luxury bedding products are available in the market with different varieties, colors, and patterns. Discounts offered by online channels helps in retaining consumers, which could increase 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, 2017
Source: Coherent Market Insights, 2017-18
Europe accounted for the largest revenue share of 33% in the global luxury bedding market in 2017, and is expected to maintain its dominance over the forecast period. The main factor attributed for growth of Europe in luxury bedding market is due to high presence of key players and new strategies employed by them for business expansion. For instance, in 2017, Eden council company acquired luxury bedding company which has been supplying bedding products to high end hotels in Europe. The company offers duvets, pillows, mattress toppers, and protectors. Furthermore, luxury bedding have high air permeability and heat conductivity properties, which makes it a breathable fabric and helps in keeping warm in winters and cool in summers. As Linen fabric is used to make the luxury bedding it has useful properties such as filtering, ventilating, moisture absorbing, bacteria resistant and evaporating capabilities. Linen luxury bedding such as linen bed sheets are anti-allergic thus it is mostly recommended for people with skin diseases and children.
Asia Pacific is expected to account for 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 increasing number of start-ups of luxury bedding in the region is expected to drive growth in the market. Key players and startups are employing similar strategies as traditional luxury brands to expand business. For instance, in June 2018, Airland Group which is a Hong Kong-based sleep products manufacturer company has launched new luxury brand name as ‘Therapedic’ throughout China at Shenzhen International Furniture Exhibition.
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.