The US market for Blankets is experiencing a substantial Compound Annual Growth Rate (CAGR) of 4.4%, reaching an impressive valuation of US$ 2.6 Billion during the forecast period. The escalating demand for premium quality blankets in the residential sector is a key driver behind the surge in the US market share.
Manufacturers in the US are embracing innovation, developing electric blankets equipped with advanced water-absorbed technology. This cutting-edge approach is further bolstering the US market share, meeting the growing consumer demand for enhanced comfort and functionality.
As the number of houses and hotels continues to rise, the blanket market in the US is expected to witness a significant uplift in opportunities during the forecast period. With a growing focus on quality and convenience, the US blanket market is poised for remarkable growth, offering a wide array of products to cater to the diverse needs of consumers in the residential and hospitality sectors.
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Overview of the Blanket Market
The blanket market size is projected to be valued at US$ 8.3 Billion in 2023 and is expected to reach US$ 13.9 Billion by 2033, with a significant CAGR of 5.3% during the forecast period.
As per newly released data by Future Market Insights (FMI), the demand in the blanket market grew at approximately 4.5% CAGR in the forecast year, reaching a market valuation of US$ ~7 Bn in 2020.
Customers in the US especially, the working class are highly keen on premium and luxury products in their residential areas, therefore, the blanket market is projected to grow with a CAGR of over ~4%. Also, with the rapidly evolving lifestyle patterns and urbanization, the possession of houses is growing in the US, which is likely to enable growth in terms of volume of sales of the blanket market.
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Key Points Covered in Blanket Market Survey
- Market estimates and forecast 2013-2027
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
Besides launching eco-friendly products, companies are partnering with environmental protection groups to promote cruelty-free and chemical-free manufacturing. Such efforts undertaken by various organizations such as Shades of Green, Boll & Branch, and Pottery Barn are likely to promote sustainable and eco-friendly bedding and help the market grow.
Key Takeaways from the Plush Blanket Market Study
- Full-size blankets are expected to hold the leading revenue share of 21.4% in the market in 2021.
- The U.S. will hold a share 87.7% in North America in 2021, owing to the high penetration of key players in the country.
- India is a key market in South Asia, registering growth at above 10.3% CAGR owing to higher spending on premium products in the country and increasing development in the real estate category.
- Europe will continue showcasing lucrative opportunities for the plush blanket market. Demand in Germany and the U.K. will continue supporting growth in the region.
Who is Winning?
Some of the leading players in the market are Berkshire Blanket & Home Co., American Blanket Company, FleecePro, Sunbeam Products, Inc., ADORNit, Plush Addict Ltd., Robert Kaufman Co., Inc., Shannon Fabrics Inc., Venus Group, The Company Store, The Northwest Company, among others.
Market players are focusing on the expansion of their product portfolio. Some of them are increase their sales by expanding their business portfolio by collaborating with e-commerce supply channels.
For instance, in 2021, PIXERS launched a customized plush blanket that is soft and warm, suitable for the bedroom, kid’s room and the living room as a bedspread or additional cover. This factor helps the company to gain customer attention in the market.
Global Blanket Market by Category
By Product Type:
- Electric Blanket
- Regular Blanket
By Material Type:
- Wool
- Cotton
- Polyester
- Others
By End-User:
- Residential
- Commercial
By Sales Channel:
- Wholesalers/ Distributors
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Independent Small Retailers
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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