The global heated mattress pads market size was valued at USD 388.4 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% to USD 534.3 million by 2027. Rising demand for comfort and luxury among consumers is triggering increasing prominence of product premiumization in bedding products, which is positively affecting the sales of heated mattress pads. In addition, high preference towards therapeutic mattresses as an aid to provide healing or rejuvenating sleep quality is gathering greater traction towards the adoption of heated bedding products, thereby boosting the demand for heated mattress pads among consumers.
Shifting consumer preference towards high-end lifestyle products, along with rising demand for customization and sustainability, is likely to create opportunities in the market for heated mattress pads. Thus, owing to the sustainability of these products and cost-effectiveness, people particularly in the western countries derive greater demand for heated mattress pads in order to curb lower temperatures during winter season. According to a blog by Build It Solar, electric heated mattress pads consume about 0.25 kWh electricity per night or 91 kWh per year which results in an electricity cost of USD 9.1 per year at 10 cents KWH. While, according to a blog by SFGate, an electric room heater costs USD 2.4 per night, incurring a cost of USD 876 per year. Thus, lower cost of electricity incurred by electric mattress pads as well as convenience of heat settings has positively influenced consumers towards the adoption of the product.
The global heated mattress pads market size was valued at USD 367.6 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027. Rising demand for comfort and luxury among consumers is triggering increasing prominence of product premiumization in bedding products, which is positively affecting the sales of heated mattress pads. In addition, high preference towards therapeutic mattresses as an aid to provide healing or rejuvenating sleep quality is gathering greater traction towards the adoption of heated bedding products, thereby boosting the demand for heated mattress pads among consumers.
In terms of revenue, offline distribution channel dominated the market with a revenue share of 58.9% in 2019. Offline distribution channel is gaining prominence as it facilitates the consumers to have a first-hand look of the products, which helps in the easy inspection of the quality, settings, and specifications. With the help of traditional brick and mortar stores, the various brands have been able to create a unique experience for the customers. Moreover, the presence of an in-store associate helps in practically understanding the product, thereby making an appropriate selection. Some of the prominent offline channels operating in the market for heated mattress pads include supermarkets and hypermarkets, company retail stores, and multi-brand stores. Availability of a wide range of fabrics offered by different brands, such as cotton and polyester and ability to compare the prices and product attributes are some of the factors that are expected to have a positive impact on market growth.
The global heated mattress market is segmented on the basis of application, distribution channel and region. By application the market is divided into Households, Hotels, Hospitals, Others. By application the market is divided into Offline, Online.
North America dominated the market with a revenue share of 50.2% in 2019. This is attributable to the higher instances of low temperatures witnessed in the region, which ask people to heat their surroundings, particularly room and beds for comfort and convenient sleeping. For instance, during the winter season, the temperature in Canada goes up to -40 degrees Celsius. In addition, increasing instances of lower back pain among consumers in Canada have developed prominence toward heated bedding as a measure of therapeutic mattress, which are increasing the demand for heated mattress pads in the region. According to a report published in May 2018 by the Canadian Chiropractic Association, 5 in 10 people in Canada suffered from lower back pain in 6- month period.
Asia Pacific region is growing at the fastest CAGR of 6.1% from 2020 to 2027, generating a revenue of USD 71.6 million by 2027. Robust growth in infrastructural development across the emerging economies of India and China is paving the way for increased investments in various sectors, particularly hospitality including hotels and hospitals. According to the World Travel & Tourism Council (WTTC), in 2017, travel and tourism contributed directly to the region’s economy which was around USD 714.0 billion. This scenario is expected to propel the demand for quality bedding products, thereby boosting the application of heated mattress pads in the commercial sectors.
Electro Warmth; Sunbeam Products, Inc.; Sleep Number Corporation; Kryo Inc.; Biddeford; TUCK.COM LLC; Therapedic International; Bed Bath & Beyond Inc.; Perfect Fit; Delutti, Inc.