NEW YORK , Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global pillows market size is estimated to grow by USD 9.67 billion from 2021 to 2026. The market is estimated to grow at a CAGR of 5.24%. Moreover, the growth momentum will accelerate. North America will account for 36% of the growth of the global market during the forecast period.
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Global pillows market - Five forces The global pillows market is fragmented, and the five forces analysis covers–
The threat of new entrants
For interpretation of Porter's five forces model – Request a sample report
Global pillows market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global pillows market - Segmentation assessment
Segment overview Technavio has segmented the market based on product (memory foam pillows, cotton pillows, down and feather pillows, and others).
The memory foam pillows segment will grow significantly during the forecast period. Memory foam is made of viscoelastic foam, which is polyurethane foam. These pillows automatically adjust according to the pressure exerted by the user and retain their shape accordingly, which provides the user with the right amount of balance and support. Therefore, various local and international vendors have started to offer memory foam pillows.
Geography overview Based on geography, the global pillows market is segmented into North America , Europe , APAC, Middle East and Africa , and South America . The report provides actionable insights and estimates the contribution of all regions to the growth of the global pillows market.
North America will account for 36% of the market's growth during the forecast period. The US is a key contributor to the pillows market in the region. However, market growth in this region will be slower than the growth of the market in Europe and APAC. The increasing number of vendors and their diversified range of innovative product offerings will drive the pillows market growth in North America during the forecast period
Global pillows market – Market dynamics Key factor driving market growth
The growth of the hotel industry is driving the pillows market growth.
The construction of new hotels and the expansion of the hotel industry will increase the demand for bedding essentials such as pillows.
In Europe , the hotel industry in certain countries has grown in recent years, especially in the Iberian Peninsula and the UK.
Similarly, the growth of the travel and tourism sector in the US has led to a boom in the hotel industry in the region.
Therefore, the overall growth of the tourism sector will increase the demand for hotels across the world, which, in turn, is increasing the sale of bedding essentials, including pillows.
Leading trends influencing the market
The increasing mergers and acquisitions (M&A) activities are a key trend in the market.
Various local and global vendors are focusing on new acquisition deals.
For instance, in August 2021 , H.I.G. Capital LLC announced the acquisition of Pegasus Home Fashions, one of the largest and fastest-growing manufacturers of poly-filled pillows in the US.
In July 2021 , Casper Sleep Inc. announced a national partnership with Bed Bath and Beyond.
Such M&A will support the growth of the pillow market size during the forecast period.
Major challenges hindering market growth
Health issues related to low-quality pillows are challenging the pillows market growth.
Sleeping without pillows is considered beneficial in several ways.
For instance, sleeping without a pillow helps maintain the natural curvature of the body, which improves spinal health.
Many consumers across the world are avoiding pillows while sleeping due to the health concerns associated with pillows.
These factors will negatively impact the growth of the global pillows market.
Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
What are the key data covered in this pillows market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the pillows market between 2022 and 2026
Precise estimation of the size of the pillows market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the pillows market across North America , Europe , APAC, Middle East and Africa , and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of pillows market vendors
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The smart pillows market size is expected to increase by USD 661.29 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.38%. This report extensively covers the smart pillows market segmentation by distribution channel (offline and online) and geography (North America , Europe , APAC, South America , and the Middle East and Africa ).
The sleeping pillow market size is expected to increase by USD 8.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.3%. This report extensively covers sleeping pillow market segmentation by distribution channel (offline and online) and geography (APAC, Europe , North America , Middle East and Africa , and South America ).
Accelerate at a CAGR of 5.24%
North America, Europe, APAC, Middle East and Africa, and South America
US, China, India, Germany, and UK
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
American Textile Co., Casper Sleep Inc., Classic Brands LLC, Comfy Group, Coop Home Goods, CVB Inc., Czech Feather and Down Co., Five Star Pillow Co., Gio Clavis Co. Ltd., Headleveler, Hollander Sleep Products LLC, Hunan Mendale Hometextile Co. Ltd., John Cotton Group Ltd., Mediflow Inc., Pegasus Home Fashions, Serta Simmons Bedding LLC, Talalay Global, Thrasio LLC, Throwboy, and Wendre
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio's consumer discretionary market reports
3.4 Market outlook: Forecast for 2021-2026
5.3 Memory foam pillows - Market size and forecast 2021-2026
5.4 Cotton pillows - Market size and forecast 2021-2026
5.5 Down and feather pillows - Market size and forecast 2021-2026
5.6 Others - Market size and forecast 2021-2026
7.3 North America - Market size and forecast 2021-2026
7.4 Europe - Market size and forecast 2021-2026
7.5 APAC - Market size and forecast 2021-2026
7.6 Middle East and Africa - Market size and forecast 2021-2026
7.7 South America - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 China - Market size and forecast 2021-2026
7.10 Germany - Market size and forecast 2021-2026
7.11 UK - Market size and forecast 2021-2026
7.12 India - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.6 Czech Feather and Down Co.
11.3 Currency conversion rates for US$
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ Newsroom: https://newsroom.technavio.org/news/pillowsmarket
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