Global Latex Pillow Market 2019-2023| Increasing Consumer Spending on Soft Home Furnishings to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jul 17, 2019--
The global latex pillow market is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled global latex pillow market 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing adoption of natural latex pillows globally owing to the rising awareness about the health and functional benefits of these pillows. These pillows are free of harmful chemicals and synthetic latex and are well-ventilated, allowing for easy circulation of air due to their unique and open cell structure. These pillows have moisture-absorbing properties, which help in keeping them dry and resist the growth of harmful bacteria and viruses. Natural latex pillows are comparatively more durable and have a longer life span when compared with other types of pillows such as memory foam and down pillows. Therefore, due to numerous health and functional benefits, the preference for natural latex pillows is increasing among consumers globally, which is a major factor driving the demand for these pillows.
As per Technavio, increasing consumer spending on soft home furnishings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global latex pillow market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Latex Pillow Market: Increasing Consumer Spending on Soft Home Furnishings
In recent years, there has been an increase in spending on soft home furnishing items by consumers worldwide. Moreover, consumers in developing economies are in the process of renovating and redesigning their homes. This has further inspired several vendors in the global home furnishing market, which includes the global latex pillow market, to offer a multitude of options to consumers worldwide. The rise in disposable income, along with the growing awareness regarding home furnishing, has also increased the overall spending on home furnishing goods, including latex pillows. Therefore, this rise in consumer spending will be a driving factor for the growth of the global latex pillow market during the forecast period.
“Apart from the increase in consumer spending on soft home furnishings, the increasing demand from the hotel industry, new product launches, and the growing online sale of latex pillows are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Latex Pillow Market: Segmentation Analysis
This market research report segments the global latex pillow market by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. However, during the forecast period, the European is expected to register the highest incremental growth due to the growth of the hotel industry in the region.
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PUB: 07/17/2019 09:30 AM/DISC: 07/17/2019 09:30 AM