ISPA released the Q3 2021 Bedding Market Quarterly last week. The report shows that for the 3rd quarter of 2021, total unit shipments of mattresses, foundations and motion foundations from U.S. producers and imports were down 7.9% over comparable data for 2020, and the value of those units increased 11.7% year over year. The YTD total market also showed a slight decrease of 0.5% for units and an increase of 18.0% for dollars.
Turning to the 3rd quarter total for reported US-produced mattresses and foundations, unit shipments were down 7.0% and dollars increased over the same period in 2020 by 15.7%, while the 3rd quarter YTD units and dollars increased 2.6% and 26.9% respectively. The Q3 2021 and YTD 2021 average unit price also increased 24.3% and 23.7% respectively.
The Bedding Market Quarterly reports U.S. sales activity (including Puerto Rico) based on data provided by 14 U.S. mattress producers. The participating companies accounted for 51.9% of the mattress units shipped and 67.2% of the wholesale market revenue for mattresses sold in 2020. The experience of these participants as a group does not necessarily reflect those of the entire mattress manufacturing industry. Furthermore, comparisons of Bedding Market Quarterly results for different time periods can be affected by a number of factors, including differences in the number of workdays and holiday promotions in a given quarter, weather conditions, etc.
ISPA’s Statistics Committee also released the 2021 fall forecast for the U.S. mattress market, which covers calendar years 2021 through 2023. The forecast model for the Total U.S. Mattress Market has been updated to include motion foundations (from any source) and imports of foundations with legs, which were not included in previous forecasts due to limited availability of historical data.
Based in part on an economic analysis prepared by the University of Michigan, and input from the Committee, the consensus view is that both the value and quantity of the Total U.S. Mattress Market (U.S.-Produced & Imports) will increase in 2021, 2022 and 2023. For 2021, the forecast shows a 8.5% increase in the value of mattress shipments and a 1.5% increase in units shipped. For 2022 and 2023, the forecast anticipates a 4.5% increase in the value of mattress shipments for both years and a 1.5% and 2.0% increase in units shipped respectively.
The forecast also contains timely economic and market analyses provided by Jerry Epperson, of Mann, Armistead & Epperson, Ltd., and Ashraf Abdul Mohsen of Association Research Inc.
ISPA updates and publishes the Mattress Industry Forecast two or three times a year, depending on market conditions. Click here for an explanation of the process ISPA follows in developing its forecasts and the various economic factors that the ISPA Statistics Committee takes into consideration in preparing the forecast.