The global blanket market is anticipated to reach a valuation of USD 8,732.1 Million in 2024, driven by increasing growth of hospitality industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.2% between 2024 and 2034, and reaching a total valuation of approximately USD 13,176.4 Million by 2034.
Blanket manufacturers can explore opportunities to expand their market presence beyond domestic borders. Engaging in international trade agreements, establishing distribution partnerships, and adapting products to meet the preferences of diverse cultural markets can facilitate market entry and growth on a global scale.
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Embracing digital marketing strategies, including social media advertising, influencer partnerships, and online marketplaces, allows blanket manufacturers to reach a wider audience and engage with consumers directly. Leveraging data analytics and consumer insights enables personalized marketing campaigns and targeted promotional efforts to drive sales and brand loyalty.
Weighted blankets, filled with materials such as glass beads or plastic pellets to offer gentle pressure, have surged in popularity for their potential therapeutic advantages in inducing relaxation and alleviating anxiety and stress. The increasing fascination with weighted blankets creates an opening for manufacturers to broaden their product range and cater to specialized segments seeking alternative wellness solutions.
Continued investments in research and development enable blanket manufacturers to innovate and introduce new products that address evolving consumer needs and market trends. Research and development efforts may focus on enhancing product performance, exploring novel materials and manufacturing techniques, and creating differentiated offerings that stand out in the competitive landscape.
Key Takeaways from the Market Study
- Global blanket market was valued at US$ 8,345.9 Million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 4.6%.
- The market in Japan is expected to expand at a CAGR of 4.3% through 2034.
- By product type, the electric blanket segment to account for a share of 15.5% in 2024.
- The market in Germany is expected to expand at a CAGR of 5.1% through 2034.
- In terms of material type, the wool segment to account for a market share of 47.9% in 2024.
Competitive Landscape
Prominent players in the blanket market are 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, and Morphy Richards Ltd., among others.
Company Portfolio
- Faribault Woolen Mill Co. produces a variety of wool blankets, throws, and accessories, renowned for their durability, warmth, and classic designs.
- Biddeford Blankets LLC specializes in electric blankets and heated throws, providing warmth and comfort during colder months.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global blanket market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the blanket market, the market is segmented on the basis of product type (electric blanket, regular blanket), material type (wool, cotton, polyester, others), end user (commercial, residential), and sales channel (hypermarkets/supermarkets, specialty stores, multi brand stores, independent stores retailers, online retailers, others sales channel), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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