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The sleeping pillow market share is expected to increase to USD 8.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.3%.
This sleeping pillow market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sleeping pillow market segmentations by distribution channel (offline and online) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The sleeping pillow market report also offers information on several market vendors, including Beyond textiles GmbH, Comfy Group, CVB Inc., Czech Feather and Down Co., Hanesbrands Inc., Hollander Sleep Products LLC, John Cotton Europe Sp. z o, Latexco LLC, My Pillow Inc., Nanfang Bedding, Pacific Coast Feather Co., Polyflex India Pvt. Ltd., Richard Behr and Co. GmbH, Romatex, Shenzhen Fuanna Household Products Co. Ltd., Tempur Sealy International Inc., Thrasio LLC, Wendre Group, and Suzhou Nuoyiman Industry Co. Ltd. among others.
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The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the sleeping pillow market encompasses successful business strategies deployed by the key vendors. The sleeping pillow market is fragmented and the vendors are deploying growth strategies such as innovative product launches to compete in the market.
The growth in the hotel industry is notably driving the sleeping pillow market growth, although factors such as health issues related to low-quality pillows may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sleeping pillow industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sleeping Pillow Market Driver
The growth in the hotel industry is one of the key drivers supporting the sleeping pillow market growth. For instance, there is a rise in the hotel industry in Europe particularly in the Iberian Peninsula and the UK due to the surge in the tourism industry. Similarly, the US is considered one of the leading countries in the travel and tourism sector worldwide. In 2021, the US travel and tourism sector had a year-over-year growth of 35.6%, representing an increase of $393 billion, for a total contribution of nearly $1.5 trillion to the US GDP. Thus, the overall growth in the tourism sector will increase the demand for hotels globally and thereby driving the sleeping pillows market during the forecast period.
Key Sleeping Pillow Market Trend
Growing sales of sleeping pillows online is one of the key sleeping pillow market trends contributing to the market growth. There is a rise in the adoption of smartphones and an increase in Internet penetration across the globe, which is leading to online shopping growth. Globally, consumers are gradually shifting toward convenient shopping, which is augmenting the sales of pillows through online channels. This growth is further complemented by the hefty discounts offered by various online retailers. Online shopping also allows consumers to choose from a wide range of products with respect to price, quality, and other factors. Such convenience offered by online shopping will propel the sleeping pillow market growth during the forecast period.
Key Sleeping Pillow Market Challenge
Health issues related to low-quality pillows is one of the factors hampering the sleeping pillow market growth. Primarily, a low-quality sleeping pillow aggravates back pain, while an overstuffed pillow results in an unnatural sleeping position. Furthermore, certain sleeping pillows can result in working against the natural curve of the spine, therefore disrupting the natural spinal alignment and causing back and neck pain. Meanwhile, sleeping pillows that are too soft or too firm can strain the neck muscles by keeping the neck curved unnaturally. Such improper neck alignments might further result in reduced blood flow, thereby causing dizziness and numbness. These health issues associated with low-quality pillows may hamper the sleeping pillow market growth during the forecast period.
This sleeping pillow market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global sleeping pillow market as a part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sleeping pillow market during the forecast period.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The sleeping pillow market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the sleeping pillow market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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35% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the sleeping pillow market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The significant growth of the hospitality industry will facilitate the sleeping pillow market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had a positive impact on the regional market due to the rise in online shopping. However, in 2021, the introduction of COVID-19 vaccines led to the resumption of activities in offline retail channels. This has increased the demand for sleeping pillows in offline channels. Thus, such factors are expected to drive market growth during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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