Global Blanket Market Overview
The blanket market is projected to register a CAGR of 4.2% from 2020-2027. A blanket is a soft woolen cloth to keep the body warm when resting or sleeping. The blanket market size is expected to reach approximately USD 9.7 billion by 2027. Traditional blankets are constructed of wool, polyester, or cotton. Furthermore, electric blankets are a relatively new form of blanket that is widely available around the world. For instance, rising consumer awareness of blankets is linked to the frequent release of various patterns and quality blankets. The market for blankets is expected to drive demand for decorative and luxury goods, mostly in emerging nations. The market for blanket is being driven by factors such as the rising adoption of various types of blankets in hospitals and hotels around the world, the rising adoption of electric blankets in multiple regions and countries, growing preferences in terms of patterns, colors, brands, categories, and types of blankets, and rising popularity and advertisement through multiple social media platforms around the world.
COVID-19 Impact Analysis
The proliferation of COVID-19 throughout the world has impacted practically every market area, including the electric market. With trade restrictions, lockdowns, and manufacturing restrictions, demand for electric blankets is expected to fall in 2020. Furthermore, the lockdown restriction resulted in a lack of workers in factories, reducing blanket manufacturing capacity, which may have a negative impact on blanket sales during the winter season. With the virus contained ly, the market will gradually resume its former growth rate.
Blanket Market Dynamics
The sector will likely expand further as the working-class population in developing nations such as India and China increases their demand for luxury and comfort. The pattern, material, and color of blankets are all important in influencing customer purchasing behavior. A tendency for strong and dramatic colors has been seen among customers owing to changes in purchasing behaviors. Blanket manufacturers have begun incorporating these popular colors and patterns into their new goods. For instance, pastel-colored cotton blankets are projected to continue a recent trend. The need for stain-resistant and machine-washable products mostly influences color and design preferences. Exotic colors and patterns associated with flora and animals have also been noted in nations such as India, Vietnam, Myanmar, and Sri Lanka.
- Fluctuating weather patterns driving market growth
Changing weather patterns on a scale have played an important part in increasing the usability of electric blankets in recent years. The blanket's capacity to warm itself provides temperature control and extreme comfort. Growing consumer awareness, combined with the regular release of high-quality new blankets, is predicted to boost the industry's size. Furthermore, an increase in private consumption expenditure is projected to stimulate the consumption of luxury and decorative goods, particularly in rising markets such as China and India.
- Risk associated with electric blanket
Safety issues are one of the primary challenges impeding the market's growth. Overheating electric blankets could be hazardous to consumers, especially pregnant women. These devices emit low-frequency electromagnetic waves that may be harmful to the fetus. Brain tumors and childhood leukemia are two dangers associated with extremely low-frequency exposure.
- Advancements and Awareness in the market
The growing popularity of low-fines self-compacting concrete (smart, dynamic concrete) and the building and construction industry's rapid growth are likely to provide a variety of growth prospects for the self-compacting concrete market throughout the forecast period.
Blanket Market Segmentation
Product Type Insights
The blanket market segmentation, based on product type, is regular blanket and electric blanket.
The regular blanket segment holds a CAGR of 5.4% during the projected period. The market's historic CAGR stood at 4.7% is low compared to the projected period. The large population worldwide prefers regular blankets for better sleep. The manufacturers are providing different prices for blankets to their customers, increasing the demand for regular blankets over the projected period.
The electric blanket is another market segment that captures the most share during the projected period. The development of the electric blanket includes integrating cutting-edge technologies, including lightweight, power battery, and waterproof qualities. But due to its high cost, consumers are shifting their interest toward regular blankets.
Material Type Insights
The blanket market segmentation, based on material type, is wool, cotton, polyester, and others. The blanket market growth was prominently high under the cotton category in 2021The durability and softness of these items are projected to drive demand shortly. Cotton farming bases with a strong footing in the United States, Brazil, Pakistan, India, China, Australia, Turkey, and Uzbekistan are projected to motivate industry participants to develop important business units nearby. Polyester is predicted to grow at the fastest CAGR between 2021 and 2030. This expansion can be ascribed to easy availability and high pricing. The product is significantly less expensive than mink, cotton, and fleece.
End User Insights
The blanket market segmentation, based on end user, is residential and commercial. The residential segment held the highest share in 2021, owing to rising demand for blankets suitable for different seasons. Different sorts of blankets are necessary to combat different types of weather. From March to July in India, a very light cotton blanket is preferred to the requirement for bulky polyester blankets from November to February. The commercial segment is predicted to grow the fastest over the forecast period. The market is driven by an increasing number of airlines and railway services worldwide.
Sales Channel Insights
By sales channel, the market is segmented into wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, multi-brand stores, small independent retailers, online retailers, and others. The supermarkets and hypermarkets category held the biggest market share in 2021. This expansion can be ascribed to the huge selection of blankets, including quilts, duvets, and comforters, available in one location for the convenience of purchasers. Furthermore, they provide significant discounts during off-seasons and stock clearance sales. The primary criteria for hypermarket sales are easy to access and fast verification. Online sales are projected to rise the fastest. This increase is due to the increasing penetration of the internet and millennials' shifting reliance on e-commerce forums as a significant selling tool.
Global Blanket Market Share, by Region, 2021 (%)
Blanket Market Overview, by Region
By region, the blanket market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share, and Asia-Pacific is anticipated to register the highest CAGR during the review period.
North America accounted for the largest market share in 2021. Climate, many hotels, a massive defense force, and philanthropy by individuals and corporations contribute to the Region's sales. The weather in North America varies drastically. The average winter temperature in Hawaii ranges from 67.4 degrees Fahrenheit to 2.6 degrees Fahrenheit in Alaska. The average seasonal temperature in the United States is 33.2 degrees Fahrenheit, an extreme environment that benefits the market in the United States. Similarly, winter in Canada is bitterly cold. Eastern Canada, including Toronto and Montreal, experiences a harsh winter with subzero temperatures from December through February.
Asia-Pacific is predicted to register the fastest CAGR between 2021 and 2030. The utility of blankets is predicted to increase due to fluctuations in climate conditions in important markets, as well as a strong hold on middle-income age groups. Another factor driving the market growth is China's, India's, and Pakistan's large military forces.
Blanket Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as Pendleton Woolen Mills, Urbanara, Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson's Bay Company, Boll & Branch Co., American Blanket Company, among others, dominate the market due to product differentiation, strategic developments, financial stability, and diversified regional presence. To expand their market footprint and acquire more clients, these market players are investing in R&D and engaging in marketing strategies such as partnerships & collaborations, mergers & acquisitions, product launches, and developments.
Major players in the blanket market research are Pendleton Woolen Mills, Urbanara, Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson's Bay Company, Boll & Branch Co., American Blanket Company, Shanghai Easun Group, Medline Industries Inc., Kanata Blanket Company, Jarden Corporation, Beurer GmbH, New Zealand Wool Blankets Ltd., Barker Textiles, U.A.B. Silkeborg, Morphy Richards Ltd., among others.
Scope of the Blanket Market Report
Product Type Outlook
- Electric Blanket
- Regular Blanket
Material Type Outlook
Sales Channel Outlook
- Wholesalers/ Distributors
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Independent Small Retailers
- Online Retailers
- North America
- Rest of Europe
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World
- South America
- Middle East
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Blanket Market Forecast & Size
To identify and estimate the market size for the blanket market report segmented by end user, sales channel, product type, and material type by value (in US dollars). Also, to understand the consumption/ demand created by consumers' blanket market forecast between 2022 and 2030.
Market Landscape and Trends
To identify and infer the drivers, restraints, opportunities, and challenges in the blanket market growth
Market Influencing Factors
To find out the factors which are affecting the blanket market size among consumers
Impact of COVID-19
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
- Raw material suppliers
- Retailers, wholesalers, and distributors
- Governments, associations, and industrial bodies
2027: USD 9.7 billion
4.2% CAGR (2020-2027)
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
End User, Sales Channel, Product Type, Material Type
North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
Pendleton Woolen Mills, Urbanara, Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson's Bay Company, Boll & Branch Co., American Blanket Company, Shanghai Easun Group, Medline Industries Inc., Kanata Blanket Company, Jarden Corporation, Beurer GmbH, New Zealand Wool Blankets Ltd., Barker Textiles, U.A.B. Silkeborg, Morphy Richards Ltd.
Key Market Opportunities
Advancements and Awareness in the market
Key Market Drivers
Fluctuating weather patterns driving market growth
Frequently Asked Questions (FAQ) :
The blanket market forecast period is 2020-2027
The market is expected to register a CAGR of ~4.2% over the next 10 years, according to blanket market research.
Asia-Pacific is expected to register the highest CAGR during 2020-2027
North America held the largest share in 2021
The market size is expected to be USD 9.7 billion by 2027.
Pendleton Woolen Mills, Urbanara, Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson's Bay Company, Boll & Branch Co., American Blanket Company, Shanghai Easun Group, Medline Industries Inc., Kanata Blanket Company, Jarden Corporation, Beurer GmbH, New Zealand Wool Blankets Ltd., Barker Textiles, U.A.B. Silkeborg, Morphy Richards Ltd., and others are the major companies operating in the market.
Key Questions Answered
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- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
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