~ Plans to launch 6 new products in the category in the next financial year ~
India, 17th March 2023: Godrej & Boyce, the flagship company of the Godrej Group, announced that its business Godrej Interio, India’s leading furniture solutions brand, in home and institutional segments, plans to grow their mattress category at 20% CAGR for the next 5 years. They plan to achieve this by increasing and enhancing their portfolio of mattresses across all price-ranges while also expanding in allied categories such as Sofa Beds, Mattress Beds, Mattress Bases & other accessories that aid healthy posture.
According to Redseer reports, India’s mattress market has grown at more than 10% CAGR and is estimated at around 20,000 crore; the organized segment commands 40% of it. Approximately 7-9 million mattresses are sold in the country each year, with the replacement cycle kicking every decade. While the vast majority of potential exists in the unorganised segment, the organised end of the business, which is expected to account for 37.5% of the total market, is increasing its share every year.
According to a study by Godrej Interio, India is one of the most sleep-deprived countries in the world. It further states that 93 per cent of Indians are sleep deprived and get less than 8 hours’ sleep per night. Godrej Interio, taking cognizance of this need has been developing mattresses with the intention of helping people improve their quality of sleep, plans on launching 6 new products over the next year.
Swapneel Nagarkar, Senior Vice President and Business Head, Godrej Interio said, “Our ardent belief is that quality and adequate sleep is invariably related to good health, improved living and enhanced productivity. A mattress is the most essential part of achieving quality sleep and we designed our revolutionary Posture Support Mattress with specialised materials supported by our research to neutralise the pressure points generated by the body’s contour. Godrej Interio aims to grow in the category by 20% over the next one year.”