The market for bed bases - Italy

1.2 Global Market

The market for bed frames is strongly influenced by that for mattresses, and as essential items for home furnishings, the demand for bed frames has experienced steady growth over the years, hand in hand with that for mattresses.

Globally, the market is booming and is estimated to grow to be worth about ** billion euros. Overall, the "sleep economy" will reach a value close to *** billion euros by ****(***)

Several reasons contribute to this increase, including increased spending on product innovation, which in turn increases the supply of mattresses and bed bases. In addition there is an increasing focus on sleep quality that leads families to spend more and more on quality products and frequently change their mattresses and/or bed frames.

This is then compounded by the boom in e-commerce given the rise in popularity of furniture sites.

The global market leader is China, which achieved an export value for mattress supports of $***,***,*** in **** alone. Belgium and Germany, the world's second and third largest exporters in the market, respectively, recorded a value of $**,***,*** and $**,***,***.(***)

This difference in values is evidence of how, globally, there is a huge tendency to prefer products from China given the lower price level.

1.3 The Italian market

Italian sold production of mattress supports has been steady in recent years as shown in the graph.

The static nature of the market should be analyzed in conjunction with the value of production sold of mattresses, which, when summed with the values reported by ISTAT for the categories of mattresses made of rubber and honeycomb plastics, metal springs, and in other materials, has varied by less than * percent.

Production sold in millions of euros of mattress supports Italy, **** - ****, Millions of euros ISTAT

1.4 Exports and Imports

as shown in the chart below, Italy is an exporting country for mattress supports, including bed frames. In **** it exported goods worth $**.*** million against an import value of $**.** million.

The value of exports has always been higher, and moreover, over the past * years the value has been steadily increasing.

Trends in Imports and Exports of Mattress Supports Italy, **** - ****, million USD and % UN COMTRADE In terms of geographical distribution, we can see that Italy's most important export trading partners are France and Germany, which together account for about ** percent of exported bed nets. They are followed by Belgium (***). Main destinations of mattress support exports Italy, ****, % ONE COMTRADE Regarding imports, it is possible to note that **.*% of imported bed frames come from Lithuania. Other important trade partners are China (***). The reason for this trend can be found in the convenience of prices offered by these countries. Countries of origin of imports of mattress supports Italy, ****, in % ONE COMTRADE

1.5 Covid-19 impact

The industry's performance has been profoundly affected by the slowdown in national economic growth, which has dampened the propensity to consume.

A benchmark that can be used to study industry trends is the production index for mattress manufacturing. A reduction in mattress production inevitably follows a reduction in mattress sales and consequently a reduction in demand for the production and sale of bed frames.

As can be seen from the graph, in April **** the index reached its lowest value and then rebounded in the following months. In terms of recovery, however, the market is steadily climbing back to pre-covid levels.

Production Index for Mattress Manufacturing Italy, ****, index ****=*** Source: ****

2.1 Demand characteristics

Demand for bed frames, hand in hand with that for mattresses, has been steady since ****.

The main drivers of demand can be found in the number of housing units and the increasing sleep disorders experienced by Italians. Beyond that, hotels and hospitals also represent a significant segment of demand.

Approximately ** percent of the budget used to furnish the home is allocated to the bedroom, which includes the purchase of mattresses and bed bases(***). Starting from the average expenditure of Italian households on furniture and furnishings reported on the ISTAT website, it is possible to calculate ** percent of this expenditure and analyze the average expenditure on bedroom furniture, which is more relevant to the purpose of this study.

Household expenditure on bedroom furniture and furnishings Italy, ****-****, euros ISTAT

The demand for bedsprings is low in that a bedspring has a lifespan of between **-** years(***). Great importance is then given to the quality of the product as there is an awareness that the function of these products is not only to accommodate the mattress, but also to improve its comfort by adapting it to the personal needs of the body, giving it the right support and indulging its movements. There are ...

2.2 Demand Drivers

Research conducted by Philipis shows the prevalence and consequences of poor sleep for Italians.

* in * Italians have difficulty sleeping, and **% perceive the effects of poor sleep on their physical and mental health.

According to a survey conducted by Manifattura Falomo, **.* percent of people surveyed consider sleep extremely important, and another ** percent consider it quite important. Despite this, it seems that the majority of people (***) do not get enough sleep, resting only five to seven hours a night.

This was also confirmed by a study conducted in **** published in the journal Scientific Reports by researchers from the Istituto Superiore di Sanità (***), Bocconi University, and the Mario Negri Institute for Pharmacological Research, in collaboration with the Doxa Institute.The results show that almost one in three Italians sleeps an insufficient number of hours, and one in seven reports unsatisfactory sleep quality. In addition to this, sleep disorders in Italy appear to be on the rise.

Bed frames and mattresses therefore play a positive role in solving the growing problem of sleep disorders. The survey also showed that **.* percent of the surveyed population believe that the quality of their mattress can influence and improve the quality of their sleep.

What Factors Importantly Influence ...

3.1 Market structure and dynamics

In Italy, the total number of companies operating only in the production of wire mesh is difficult to estimate; the ATECO code of reference is **.**.** - retail trade in medical and orthopedic articles in specialized establishments, which presents a diverse range of products such as mattresses, slatted frames, relaxation armchairs, bed accessories and medical devices. Under this ATECO code, there appear to be **** entities in ****, a number that is a small decrease from **** whose total was **** entities. However, in order to be more precise and try to cover only bed base manufacturing companies, from what emerged from interviewing a business entity in northern Italy, it is necessary to specify that such companies, not craft ones, require the use of equipment and processing technology operating on large quantities of metal and wood, thus allowing us to exclude individual entrepreneurs, who, on average, do not possess large facilities or require the investment of large amounts of capital. Imposing this filter, we will notice a different trend that, from **** to ****, has always been upward.[***]

Assessment of Active Companies in the Sector Italy, ****-****, in Units. Source: ****

Considering the **** data, however, it is also appropriate to make a distinction between the different types of companies ...

3.2 Value chain

The value chain and operation of the market for nonhandmade bed nets in Italy are summarized below. Since they are a market that works mainly on order, thus avoiding large intermediaries as part of this larger market, their specific value chain does not differ substantially from that shown below.

Source: ****

4.1 Type of the offer

The bed base, one of the two components of a bed along with the mattress, possesses a fundamental function for a person's daily physical well-being since, on it too, the quality of rest depends. Therefore, the choice of the bed base is mainly influenced by two variables: structure and material and the use of the bed base (***).

When choosing the structure and material of the bed base, end customers influence their choice mainly based on their physical structure, including height, weight, age, and the state of the spine; according to industry experts, it is very important that the consumer's spine and neck stay aligned during sleep to donate long-term benefit and not incur physical problems. Having cleared the first element, the customer will be faced with deciding, based on his or her preferences and needs, on the quality of the materials and thus on the rigidity and flexibility of the bed base[***]

Regarding the use of the bed net, there are mainly two categories: bed nets for hospital use, with very specific structures to flank the different functions of the bed, and for private use, which includes both beds in tourist facilities such as hotels and private facilities such as ...

4.2 Prices

The price of bed nets varies according to the cost of material and the cost of energy of machinery. Since precise information on bed nets is not available, we will go to see and analyze the price trend of bedroom furniture according to the Ecoicop classification "****** - bedroom furniture".

ICC Rating for Bedroom Furniture Italy, ****-****, in Index Base **** = *** Source: ****

From the graph, it can be seen that there has been a steady increase in the consumer price index over the five-year period ****-****, with a CAGR of *.** percent. Specifically, between **** and ****, the consumer price index for bedroom furniture increased by *.* percent in a single year. Considering the point of sale, the price of bedroom bed frames has a very wide average range, from ** euros to ****, varying according to materials, size, and workmanship.[***]

4.3 New trends in supply

The bed base market has seen trends develop in recent decades related to innovation in the materials used, which are increasingly studied in terms of both physical characteristics and application. As mentioned earlier, the primary goal of the product is to give comfort and stability to the consumer during the sleeping and resting phase. The study of materials at both craft and industrial levels has led to experimentation and work on raw materials such as wood and iron so that even the most specific needs of the market, could be met.

In large cities, living spaces being on average smaller and needing more efficiency in the arrangement of furniture, the sale of sofa beds and the manufacture of folding or otherwise assemblable bed frames has grown in recent years. The rather standard lines that characterized sofa beds a few decades ago have been replaced by truly sought-after furniture with practical opening mechanisms and structured, solid bed bases.[***]

Recently, in addition to hospitals, the trend of motorized electric bed nets for private use has been gaining momentum. In recent years there has been a great diffusion of this technology as it allows, thanks to small changes in the inclination of the mattress, ...

5.1 Regulatory framework

The regulatory framework of bed frames is closely related to that of home furniture and bedsteads. The UNI EN *** standard, which in turn consists of UNI EN ***-* and UNI EN ***-*, was recently published by the Furniture Technical Commission and deals with the safety, strength and durability requirements for beds and related test methods. The entire document is available for a fee at uni.com

6.1 Segmentation

• Biemmereti SPA
• LAMPOLET S.R.L.
• Loiudice Srl
• De Marco Reti S.r.l
• Giennereti S.r.l
• IKEA Italia
• Iris Mobili (Mondo Convenienza)
• Maisons du Monde Italia
• Poltronesofà
• Foppapedretti S.p.a.