The blanket market is anticipated to grow significantly at a compound annual growth rate of 5.3% for the forecast period, from US$ 8.3 billion in 2023 to US$ 13.9 billion by 2033.
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 Billion 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.
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Some of the leading players in the market
- Pendleton Woolen Mills
- Urbanara
- Faribault Woolen Mill Co.
- Biddeford Blankets LLC
- 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
- UAB Silkeborg
- Morphy Richards Ltd.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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