The global blanket market is anchored in its fundamental purpose of providing warmth and comfort during rest or sleep. Regular blankets crafted from wool, polyester, or cotton remain popular choices. Recent advancements have introduced electric blankets to the market, expanding options for consumers. Both electric and regular blankets find substantial utilization in cold weather and winter seasons, catering to a worldwide demand for cozy comfort. This market is characterized by a harmonious blend of traditional warmth and modern innovation, ensuring a consistent and essential presence in the lives of consumers.
According to Data Bridge Market Research, the Global Blanket Market was valued at USD 7.36 billion in 2021 and is expected to reach USD 10.63 billion by 2029, registering a CAGR of 4.70% during the forecast period of 2022-2029.
“Increasing consumer expenditure facilitates market growth”
A significant driver of the global blanket market is increasing consumer expenditure. As disposable incomes rise across various regions, consumers allocate a greater share of their budgets toward enhancing comfort and well-being. Blankets, being fundamental items associated with relaxation and warmth, benefit from this trend. Higher consumer spending power enables individuals to invest in quality blankets, both for personal use and gifting purposes. This growing financial capacity aligns with the market's diverse offerings, contributing to sustained demand and fostering the growth of the global blanket market.
What restraints the growth of the global blanket market?
“Lower awareness among consumers”
A significant restraint in the global blanket market is the lower awareness among consumers. Despite the essential role blankets play in comfort and warmth, inadequate awareness about the diverse range of blankets available and their benefits hinders market growth. This lack of knowledge prevents potential customers from making informed purchasing decisions. Manufacturers and marketers must invest in awareness campaigns to highlight the various types of blankets, their features, and the comfort they provide. Addressing this knowledge gap is crucial to unlocking the market's full potential and driving sustained demand for blankets worldwide.
Segmentation: Global Blanket Market
The global blanket market is segmented on the basis of material type, product type, application, and distribution channel.
- On the basis of material type, the global blanket market is segmented into wool, polyester, and cotton.
- On the basis of product type, the global blanket market is segmented into regular blanket, and electric blanket.
- On the basis of application, the global blanket market is segmented into hospital, household, and hotel.
- On the basis of distribution channel, the global blanket market is segmented into hypermarkets/supermarkets, e-commerce, and multi-brand stores.
Regional Insights: Asia-Pacific dominates the Global Blanket Market
Asia-Pacific maintains its dominant position in market share and revenue, projected to persist during 2022-2029. This growth is propelled by a substantial consumer base and increasing adoption of electric blankets. The region's sizable population drives demand, while the expanding prevalence of electric blankets speaks to rising comfort consciousness and changing lifestyles, reinforcing the flourishing dominance of Asia-Pacific in the electric blanket market.
North America is poised for lucrative growth during 2022-2029, fueled by diverse blanket applications in hospitals and hotels. The region's healthcare and hospitality industries increasingly rely on specialized blankets, driving market expansion. Moreover, the heightened adoption of electric blankets in the region, catering to comfort and energy efficiency, further augments North America's growth trajectory in the electric blanket market.
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The Prominent Key Players Operating in the Global Blanket Market Include:
- American Blanket Company (U.S.)
- Pendleton Woolen Mills (U.S.)
- Amritsar Swadeshi Textile Corporation Pvt. Ltd. (India)
- Hudson's Bay Company (Canada)
- Boll & Branch (U.S.)
- URBANARA GmbH (Germany)
- Shanghai Easun Group (China)
- Medline Industries, Inc. (U.S.)
- Chellco Industries Limited (Nigeria)
- Biddeford Blankets, LLC (U.S.)
- Youngman Woollen Mills Private Limited (India)
- Richards (England)
- Silentnight Group Limited (U.K.)
- Barker Textiles UAB (Lithuania)
- Kanata Blanket Co. (Canada)
- Faribault Woolen Mill. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global blanket market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Blanket Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.