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Growing consumer interest in home and bed furniture in Europe is driving market demand.
FORT COLLINS, Colo., April 2, 2024 (Globe Newswire) — The European pillow market size was valued at USD 3.7 billion in 2023 and is expected to reach USD 5.6 billion by 2032, at a CAGR of 4.8%.
The rapid growth of the tourism and hospitality sector in the European region Growth of the European Pillow Market. Increases in disposable income, consumer confidence and general economic conditions in European countries are primarily driving growth across the travel and tourism sector. According to HOTREC, the hospitality industry involves more than 2 million businesses. It contributes to around 3% of the EU’s GDP.
The majority of European households have long refrained from purchasing luxury or high-quality pillows. However, as disposable income increases, high- and middle-income groups are spending more on lifestyle. According to European Union data, spending on furniture and household equipment amounts to around 6% of total household expenditure in the EU.
Innovations in pillow materials and developments in sensor technology to meet consumer demands are likely to provide growth avenues for prominent market players and contribute to the increase in demand during the forecast period. Smart pillows have built-in sensors that monitor your sleep patterns and movements throughout the night. These pillows come with features like cervical heating, built-in speakers, automatic height, and AI sleep monitoring. Additionally, advances in materials such as hypoallergenic pillows, eco-friendly pillows, and cooling technology pillows.
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Segmentation overview:
european pillow market is subdivided into products, applications, sales channels, and regions. The polyester pillow segment held an overwhelming market share on a product basis. Based on application, the residential segment accounted for a large market share in 2023. Increased household incomes due to economic growth are expected to increase the purchasing power of all consumer groups, encouraging the upper and middle classes to spend more on lifestyle products. .
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Highlights of the European Pillow Market Report:
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In 2023, Germany accounted for the major market share. This is thought to be due to a tendency among the Japanese people to invest in bed furniture, which boosted demand for pillows.
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Prominent players in the European Pillow Market report include Frette, JohnCotton, Wendre, DYKON A/S, Pacific Coast Feather Company, Richard Behr & Co. GmbH, PENELOPE, PATEX, Latexco, and Magniflex.
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European Pillow Market Segmentation:
By product: Polyester pillows, cotton pillows, down pillows, memory foam pillows, latex pillows, etc.
By application: commercial and residential
By sales channel: online and offline
By country: UK, Germany, France and other parts of Europe.
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