CLEVELAND — Sleep product demand is forecast to grow 2.6% annually for the next four years, according to a recent report from Freedonia Focus Reports, and better sleep on premium mattresses will be a key marketing driver for the bedding category.
In its “Sleep Products: United States,” FFR says the advances each year will be driven by increases in household formation, home sales and higher levels of disposable personal income.
Marketing the importance of a good night’s sleep and the potential benefits of high-end foam and hybrid mattresses will continue to support purchases of premium bedding, the report notes. In addition, the aging population of relatively affluent Baby Boomers will increase demand of premium products that offer relief for problems such as back pain.
The Freedonia report also noted that, in the short term, COVID-19 will continue to spur demand for new mattresses, citing consumers who are experience negative effects to the quality of their sleep while working from home and spending more time in their bedrooms.