The global Blanket market is experiencing steady growth, driven by increasing demand for cosmetic products, evolving beauty trends, and a surge in online sales channels.
According to the TechSci Research report titled "Global Blanket Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the Global Blanket Market reached USD 7.6 Billion in 2022 and is expected to grow at a CAGR of 6.21% from 2024 to 2028. The market is primarily driven by consumer preferences for comfort and style, offering diverse materials, including eco-friendly options. Design aesthetics and customization cater to style-conscious consumers, with e-commerce platforms expanding market reach. Challenges include economic uncertainties, environmental concerns, changing consumer preferences, competitive pressures, and market consolidation. The emergence of electric and smart blankets addresses modern needs, while sustainability becomes crucial. Handcrafted and versatile blankets are gaining popularity, and inclusivity in sizing is recognized. The Global Blanket Market is evolving in response to dynamic trends and challenges, offering opportunities for innovation and adaptation.
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The Global Blanket Market is propelled by multifaceted drivers that contribute to its growth and adaptability. Consumer demand for comfort remains a dominant force, satisfying the universal desire for warmth and relaxation. Diversity in material options, including eco-friendly choices, offers consumers a broad spectrum to suit their specific needs. Blankets crafted from various materials, responding to the growing sustainability trend, add versatility to the market. Fashion and design aesthetics transform blankets into style statements and fashion accessories, appealing to consumers seeking blankets aligning with their aesthetic preferences. The convenience and accessibility of e-commerce platforms constitute a significant driver, broadening market reach and intensifying competition.
The emergence of electric blankets and smart blankets is reshaping market dynamics, catering to consumers seeking innovation and convenience. Sustainability is increasingly influencing the market, with a shift toward eco-friendly trends and materials. The Global Blanket Market is driven by enduring consumer demand for comfort, material diversity, fashion, design aesthetics, e-commerce convenience, technology integration, and sustainability. These factors collectively propel the market's evolution, offering opportunities for innovation and adaptation to meet dynamic consumer demands. The online segment of the global blanket market has experienced remarkable growth, attributed to the prevalence of e-commerce platforms. Online sales offer convenience and accessibility, allowing consumers to explore a vast array of blanket options from home. Online shopping enables informed decisions through customer reviews and ratings, making it a significant and growing part of the blanket market.
Major companies operating in Global Blanket Market are:
- American Blanket Company
- Pendleton Woolen Mills
- Hudson's Bay Company
- Boll & Branch
- URBANARA GmbH
- Shanghai Easun Group
- Medline Industries, Inc.
- Chellco Industries Limited
- Biddeford Blankets, LLC
- Youngman Woollen Mills Private Limited
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"The global blanket market experiences significant impetus from several critical factors, encompassing the burgeoning consumer demand for comfort, a diverse array of material options, an emphasis on sustainability, forward-looking design aesthetics, and the pervasive convenience offered by online shopping. These driving forces not only underpin the market's ongoing growth but also facilitate its transformation, granting consumers an extensive spectrum of choices, spanning from traditional to cutting-edge blankets. However, despite the industry's expansion, it contends with challenges such as economic uncertainties, environmental apprehensions, shifting consumer preferences, heightened market competition, and consolidation. Nevertheless, the market's trajectory is likely to be influenced by emerging trends like smart blankets, sustainability practices, customization options, and inclusivity measures. As the blanket market navigates dynamic trends and challenges, it presents opportunities for ongoing innovation and adaptation," articulated Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
The report titled "Blanket Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Regular Blanket, Electric Blanket), By Application (Residential, Commercial), By Sales Channel (Supermarkets/Hypermarkets, Multi Branded Stores, Online, Others), By Region, By Competition, 2018-2028" comprehensively assesses the future growth prospects of the Global Blanket Market. It furnishes statistics and information on market size, structure, and anticipated future growth. The report is designed to deliver cutting-edge market intelligence, aiding decision-makers in making informed investment decisions. Furthermore, it identifies and analyzes emerging trends, along with essential drivers, challenges, and opportunities within the Global Blanket Market.
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Research Report Insights (RRI)delivers key insights on the global Electric Blanketmarket in its upcomingoutlook titled, “Electric Blanket Market by 2025”. In terms of value, the global electric blanketmarket is projected to register a healthy CAGR of 7.1% during the forecast period due to various factors,regarding which RRI offers vital insights in detail.
Nowadays, consumers are spending a lot to keep their houses warm as well as properly insulated during the winters. There are various ways through which people can do that. However, today, a new type of blanket is dominating the market - electric blanket. These blanket can be warmed before use. Electric blanket are getting attention among consumers, owing to their various benefits, such as allowing consumers to access multiple features and delivering maximum comfort. Therefore, owing to increasing consumer awareness, coupled with the advantages associated with the product, the North American electric blanket market is expected to grow in the near future.
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When the warmness generated by a home heating system is not enough, an electric blanket helps in keeping the user warm and cozy, along with minimizing the overall home heating cost. Though electric blanket consume small amounts of energy as compared to a furnace, these devices can still increase the monthly electric bill. However, if the user operate the electric blanket at less than the maximum temperature setting, it may save overall heating costs.
A warm, cozy electric blanket is attractive to many people all through the winter months. Electric blanket usually save money related to turning up the heat when the temperature decreases, but they also present some dangers. Like any electric appliance, electric blanket can present fires hazard in the house that can damage property and threaten lives. This can be a hindrance to the electric blanket market.
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Quality has taken on a new level of industrial standing for manufacturers. Brand image is lost by offering low quality products to end users. Thus, the safely of electrical equipment has been protected by various stringent government quality standards at regionals levels, i.e. Community legislation (Directive 73/23/EEC), concerning the safety of electric heated blanket, and similar flexible heating appliances for commercial as well as household use.
UL (Underwriters Laboratories) is a safety certification organization that has been testing products and writing quality standards for over 100 years. UL develops a comprehensive set of electric blanket safety standards for the US market. All brands must issue safety recommendations with their products in compliance with UL standards. Additionally, one should not buy an electric blanket that does not show a UL (Underwriters Laboratories) or ETL mark on it.
This report covers trendsdriving each segment and offers analysis and insights of the potential of the electric blanketmarket in specific regions. Asia Pacificis expected to register high growth rates between 2017 and 2025. North America is expected to remain the largest market through 2025, followed by Europe. North America region accounted for 39.5% value market share in 2016 and is expected to account for 39.4%market share by 2025. In terms of volume, Asia Pacificis expected to register significant CAGR during the forecast period.
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the electric blanketspace. Electric blanketkey players include Jarden Corporation, Shanghai Shenda Co. Ltd., Beurer GmbH, Morphy Richards Ltd., Biddeford Blanket, LLC, Snugnights UK LLP, Slumberdown Company, PIFCO, Shavel Associates Inc., Silentnight Group Ltd., CDB Goldair Australia Pty LTD, Glen Dimplex Group, MAXSA Innovations, E&E Co. Ltd. and Shijiazhuang Mengjie Industry Co. Ltd.
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