The sleeping pillow market share will post an incremental growth of USD 8.32 billion, progressing at a CAGR of 6.3% during the forecast period. The growth in the hotel industry will offer immense growth opportunities to market vendors. The sleeping pillow market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Sleeping Pillow Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The sleeping pillow market is segmented by distribution channel (offline and online) and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Based on the distribution channel, the growth of the sleeping pillow market size in the offline segment will be significant during the forecast period. By geography, the significant growth of the hospitality industry will facilitate the sleeping pillow market growth in APAC. 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.
The growth in the hotel industry will directly influence the sales of the sleeping pillow market. In addition, the growing sales of sleeping pillows online are the major sleeping pillow market trends that will positively impact the market growth. However, the health issues related to low-quality pillows will hamper the sleeping pillow market growth.
The market is fragmented due to the presence of several players. Some of the major sleeping pillow market vendors are 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.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the sleeping pillow market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the sleeping pillow market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the sleeping pillow market.
Sleeping pillow industry growth across APAC, Europe, North America, Middle East and Africa, and South America.