Japan Mattress Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Japan Mattress Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
Japan emerged as an important production hub for mattress manufacturing as it is standing at 4th highest revenue generating country. Japan’s mattress market developed rapidly due to the growing population in Japan, 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 has been a rapid decline in the growth of the mattress market. The domestic, as well as the international retail sector, is also suffering due to the lockdown within the country. In the long term, the increasing disposable income and advancing lifestyle are the main drivers of the market. The Japanese home textile and mattresses market is supported by the increase in organized retail and growth of end-user sectors, like housing, hospitality, and healthcare. 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. These all-factors lead to the increase in demand for high-quality mattresses. Japan's mattress industry is still affected by other factors, such as the speed of renovation of existing houses, expansion of the new houses, and innovation in traditional sleep concepts. Consumer groups are expanding in Japan’s mattress market and have the potential for further development. A functional and healthy mattress is highly regarded by consumers in the market due to changing lifestyles and sleep disorders among people. Replacement of bedding is forecasted to lead to the growth of the mattress market in Japan.Japan Mattress Market TrendsGrowing Urbanization is Driving the Market Growth Japan stood at 4th place driving maximum revenue from the mattresses industry. Urbanization is one of the key factors enabling and driving the demand transformation, as the consumers are demanding eco-friendly mattresses, new technological mattresses, etc. With 91.7% of the total population are leaving in cities and urban areas, there is a surplus demand for bedroom and home furniture, mattresses, and others. The import of mattresses is increasing with every year passing, this shows the increasing demand and consumption of mattresses. Around 35% of total revenue from Bedroom Furniture was generated through mattresses sales.Hospitality Industry Pushing Demand For Mattress The increase in the number of Hotels and Lodging facilities in Japan resulted in an increase in the demand for Mattresses. In the fiscal year 2019, close to 89 thousand hotels and inns were registered in Japan, an increase of over three thousand from the previous year. Accommodation establishments in Japan are most commonly separated into the occidental-style hotels and the traditional Japanese-style inns (ryokan) featuring rooms furnished with tatami mats and comfort Mattresses.Japan Mattress Industry Overview Companies across the world have huge investments in this segment of the market. Japan Mattress Market has many companies concentrated over minor shares. Simmons co. Ltd., Sleep Select co. Ltd., Union Bed Seizo K.K, National Hatsujo K.K., Molten Medical K.K., Mikkabi Kogyo K.K., Rubic JP K.K., Tokyo Spring Industry Co. Ltd. are amongst the Mattress, fixtures, etc. Adoption of smart Mattresses and up-gradation to new mattresses leads to increasing competition amongst the company. Innovation and technological advancement taking a pace as the COVID, and urbanization strike general people to the adoption of the new bedding and mattresses.Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support