Shape Memory Foam Market 2024: Key Trends and Forecast

The shape memory foam global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Shape Memory Foam Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size —
The shape memory foam market size has grown rapidly in recent years. It will grow from $9.21 billion in 2023 to $10.54 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to rise in disposable incomes, growth in the wellness industry, growth in e-commerce, growth in the aging population, and growth in healthcare facilities.

The shape memory foam market size is expected to see rapid growth in the next few years. It will grow to $18.17 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to increasing investment in robotics, increasing demand for high-quality bedding solutions, rising demand for high-quality sleep products, growing demand for hypoallergenic foam options, and growing focus on enhancing product durability. Major trends in the forecast period include technological advancements, customized mattress solutions, multi-functional furniture, sleep optimization technologies, and pet beds.

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Scope Of Shape Memory Foam Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Shape Memory Foam Market Overview

Market Drivers –
The rising acute back pain is expected to propel the growth of the shape memory foam market going forward. Acute back pain is a sudden onset of discomfort or pain in the back that typically lasts for a short duration, usually less than six weeks. Acute back pain occurs due to poor posture from prolonged sitting or screen use, inadequate physical activity, and aging populations, contributing to musculoskeletal strain and injury. Shape memory foam is used for acute back pain because it contours to the body, providing personalized support and pressure relief that helps align the spine and reduce strain on muscles. For instance, in June 2024, according to the Australian Institute of Health and Welfare, an Australia-based government agency, an estimated 4.0 million people in Australia, or 16% of the population, were living with back problems in 2022. Moreover, by 2023, back problems had become the third leading cause of disease burden, contributing to 4.3% of the country’s total disease burden. Additionally, in 2022, back issues were linked to 1,112 deaths, equating to 4.3 deaths per 100,000 people or 0.6% of all deaths. Therefore, the rising acute back pain is driving the growth of the shape memory foam market.

Market Trends —
Major companies operating in the shape memory foam market are developing technologically advanced products with triple-phase cooling technology integrated memory foams to offer superior temperature regulation. Triple-phase cooling technology integrated memory foam is designed with a cooling system that manages heat in three phases to enhance comfort by regulating temperature throughout the night. For instance, in August 2022, Saatva, a US-based luxury sleep company, launched the memory foam hybrid mattress. The memory foam hybrid mattress uniquely combines CertiPUR-US-certified foam layers with a triple-phase LuxeCool system, which efficiently draws away and disperses body heat for a more relaxed sleep. It features the patented lumbar zone technology with quilting for enhanced support in the center third of the mattress, alongside a body-hugging AirCradle memory foam layer and 8” pocketed comfort coils that provide a responsive feel and motion isolation. This design ensures ease of movement, pressure relief, and a balanced medium firmness suitable for couples with varying preferences. It is ideal for side, back, and combination sleepers while offering a supportive, pressure-relieving, and cooling sleep experience.

The shape memory foam market covered in this report is segmented —

1) By Type: Polyurethane (PU) Memory Foam, Gel-Infused Memory Foam, Plant-Based Memory Foam, Other Types
2) By Application: Residential, Commercial
3) By End-Use: Bedding And Furniture, Automotive, Medical, Other End-Users

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Regional Insights —
Asia-Pacific was the largest region in the shape memory foam market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the shape memory foam market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies —
Major companies operating in the shape memory foam market are Ashley Furniture Industries, Tempur Sealy International, Casper Sleep Inc., Saatva Inc., Nilkamal Limited, Bensons for Beds Limited, Tuft & Needle LLC, Leesa Sleep LLC, Kurlon Enterprises Limited, Nectar Sleep LLC, Sleepwell, Zinus Inc., The Puffy Mattress Company, Bear Mattress LLC, Brooklyn Bedding LLC, Avocado Green Mattress, Serta Simmons Bedding LLC, Coirfit Mattress Limited, DreamCloud, Helix Sleep Inc., Essential Aids Limited, WinkBeds LLC, HomeKomforts LLC

Table of Contents
1. Executive Summary
2. Shape Memory Foam Market Report Structure
3. Shape Memory Foam Market Trends And Strategies
4. Shape Memory Foam Market — Macro Economic Scenario
5. Shape Memory Foam Market Size And Growth
…..
27. Shape Memory Foam Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix