The industry of consumer goods has seen a lot of transformation in the last few years. Consequently, the number of manufacturers entering in this industry has also increased remarkably. Not just this, the players operating in this industry are penetrating various innovative products and trying their hands on different strategies in an attempt to grab the largest share of the industry. Considering growth trajectories of the global Memory Foam market, QYR Consulting has lately come up with a new research report titled, “Global Memory Foam Market Report, History and Forecast 2014-2025.” According to the report, the global Memory Foam market is anticipated to obtain a value of US$ 7.69 Bn by the end of 2025, which was nearly US$ 3.85 Bn in the year 2018. The global Memory Foam market is likely to expand with a robust CAGR of 10.2% during the forecast period of 2019-2025.
Memory Foam mattresses with 10-30 cm thickness are highly popular among the working population
The global Memory Foam market is segmented into two segments such as by product and by application. By product, the market is further segmented into below 10cm, 10-30 cm, and above 30 cm. among these products, Memory Foam mattresses with 10-30 cm thickness are largely adopted by consumers because of the perfect body balance. Memory Foam mattress with 10-12 cm thickness is considered as a perfect size of mattress. These products are highly popular among the working population of urban areas. By application, the global Memory Foam market is segmented into two segments such as home use and commercial use. As far as applications are concerned, Memory Foam is having a number of commercial as well as home use applications.
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Asia Pacific is to notice the fastest growth in the global Memory Foam market
Asia Pacific is anticipated to observe impressive growth in the global Memory Foam market. Increasing disposable income, technological innovations, and growing number of lifestyle diseases are some of the factors helping Memory Foam market growth in the region. Apart from this, memory foam is widely adopted by carpet manufacturers as well as in aircraft and transportation industries to give necessary comfort and support in seats. Apart from Asia Pacific, Europe is also predicted to witness the fastest growth in the global Memory Foam market owing to rising spending capacity on home furnishing and high standard of living.
Simmons, Tempur Sealy, Corsicana Bedding, Sleemon, Mlily, Sinomax, and Serta are some of the key market participants operating in the global Memory Foam market.
A wide number of applications of Memory Foam in the medical industry to bolster the market growth
Pressure-relieving advantages of Memory Foam is expected to increase market growth in the near future. Memory Foam has an ability to mold and conform to the body due to this unique property it is immensely popular in the mattress industry. Over the years Memory Foam discovers several applications in the medical industry such as in the manufacturing of wheelchair seat cushions, hospital bed pillows, and padding.
Heat retaining, energy dissipation, and moisture permeability properties of Memory Foam could generate growth opportunities in the global market. People suffering from sleeping disorders, allergies, and back problems are projected to attract heavy demand for Memory Foam mattresses in the upcoming years. However, health risks associated with carcinogens off-gracing from some of the Memory Foams could decrease the global Memory Foam market growth.
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