Global Blanket Market – Industry Trends and Forecast to 2031

Blanket Market Analysis and Size

The blanket market is experiencing significant growth driven by advanced technologies such as smart textiles, eco-friendly materials, and digital knitting machines. Innovations such as temperature-regulating fabrics and sustainable production methods are enhancing product offerings. Consumer demand for comfort and sustainability fuels this trend, positioning the blanket market for robust expansion and continuous innovation in the coming years.

The global blanket market size was valued at USD 8.07 billion in 2023 and is projected to reach USD 11.65 billion by 2031, with a CAGR of 4.70% during the forecast period 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Report Scope and Market Segmentation

Market Definition

A blanket is a large piece of soft fabric, often made of wool, cotton, or synthetic materials, used for warmth and comfort. It can be used on beds, couches, or during outdoor activities to provide insulation. Blankets come in various sizes, colors, and patterns, and they are essential for maintaining body heat in cold conditions.

Blanket Market Dynamics

Drivers

• Expansion of E-commerce and Online Retail Growth

The expansion of online retail platforms simplifies blanket purchases, enhancing consumer access and choice. For instance, platforms such as Amazon and Etsy offer a vast selection, from budget options to premium brands. Digital marketing campaigns and the convenience of home delivery further drive market growth. Consumers can easily compare products, read reviews, and enjoy doorstep delivery, making online shopping a preferred method for buying blankets.

• Changing Consumer Preferences and Customization

The rising demand for personalized and customizable blankets reflects consumers' desire for unique designs, colors, and materials that match their tastes. For instance, companies such as BlanketsByUs offer custom printing options, allowing customers to create blankets featuring personal photos or bespoke patterns. This trend creates significant market opportunities, enabling brands to cater to individual preferences and stand out in a competitive landscape, ultimately driving higher sales and customer loyalty.

Opportunities

• Changing Climate and Weather Patterns

Seasonal changes and colder weather conditions significantly boost blanket demand, as consumers seek warmth and comfort. For instance, a harsh winter can lead to immediate spikes in blanket sales, creating lucrative opportunities for manufacturers and retailers. Extreme weather events, such as unexpected cold fronts, further drive this demand, prompting quick stock replenishments and innovative product offerings to meet consumer needs efficiently and capitalize on the market surge.

• Growing Fashion and Home Decor Trends

Fashion and home decor trends significantly drive the blanket market as blankets are now seen as essential style elements in interiors. For instance, the popularity of Scandinavian design emphasizes cozy, minimalist aesthetics, boosting demand for soft, and neutral-colored blankets. Similarly, vibrant, patterned throws align with bohemian decor trends. As consumers seek to personalize their spaces, these trends influence the types and styles of blankets purchased, driving market growth.

Restraints/Challenges

• High Manufacturing Labor Costs

Fluctuating labor costs, influenced by wage variations and labor market conditions, pose a significant hindrance to the blanket market. Particularly in regions with high labor expenses, these fluctuations impact manufacturing viability, potentially leading to increased production costs and reduced profitability for blanket manufacturers.

• Seasonal Demand for Blanket

Seasonal fluctuations in demand due to weather changes create challenges for the blanket market, with peak sales during cold months and reduced demand in warmer seasons. This variability complicates production planning and inventory management, leading to potential revenue losses during off-peak periods and excess inventory accumulation during peak seasons, impacting market stability and profitability.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In October 2023, Trust Housing, based in North Lanarkshire, secured £120,000 funding to aid residents during winter, ensuring their well-being. This initiative reflects the organization's commitment to community support
• In October 2023, Jess Gavin, Myer's homewares senior buyer, discussed innovative cooling technology in blankets aimed at enhancing sleep quality by regulating body temperature effectively
• In September 2023, National Blankets aimed to produce one million premium-quality blankets annually for both local and export markets but awaited funding via Special Drawing Rights (SDRs) for raw material procurement
• In September 2023, Zimbabwe received SDR 677 million (US$958 million) from the IMF, part of which was allocated to bolster key sectors such as the textile industry, underlining efforts to stimulate economic growth and development

Blanket Market Scope

The market is segmented on the basis of product type, connectivity, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type

• Wool
• Polyester
• Cotton
• Others

 Product Type

• Regular Blanket
• Electric Blanket

 Application

• Household
•  Commercial

 Sales Channel

• Hypermarkets/Supermarkets
• Specialty Stores
• Multi Brand Stores
• Independent Stores Retailers
• Online Retailers
• Others Sales Channel

Blanket Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by product type, connectivity, and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America is estimated to show lucrative growth in the blanket market, driven by increased adoption in hospitals and hotels. Additionally, the region witnesses rising penetration of electric blankets. These trends underscore a shift towards comfort and technology-driven solutions, propelling market expansion.

Asia-Pacific is expected to dominate the blanket market in both market share and revenue, maintaining its stronghold throughout the forecast period. This dominance is fueled by a growing consumer base and increased adoption of electric blankets, driving substantial market growth within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Blanket Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Pendleton Woolen Mills (U.S.)
•  Amritsar Swadeshi Textile Corporation Pvt. Ltd. (India)
•  BUDDEMEYER S/A (Brazil)
•  Boll & Branch LLC (U.S.)
•  Kaufidee GmbH (prospective URBANARA Ventures GmbH) (Germany)
•  Shanghai Easun Group Imp & Exp Co., Ltd. (China)
•  Medline Industries, Inc. (U.S.)
•  Chellco Industries Limited (Nigeria)
•  Biddeford (U.S.)
•  Youngman Woollen Mills Private Limited. (India)
•  Morphy Richards (England)
•   Silentnight Group Limited. (U.K.)
•  Barker Textiles UAB (Lithuania)
•  Kanata Blanket Co. (Canada)
•  Faribault Woolen Mill (U.S.)

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