In 2024, the blanket market is estimated to be valued at US$ 8,732.1 million, with projections indicating a rise to US$ 13,176.4 million by 2034. Furthermore, the market is expected to experience a surge at a compound annual growth rate (CAGR) of 4.2% between 2024 and 2034
In the US, premium and luxury goods are in high demand, particularly among working-class residents in residential neighborhoods. Because of this, a compound annual growth rate (CAGR) of more than ~4% is predicted for the blanket market. Furthermore, the United States is experiencing a surge in home ownership due to changing lifestyles and urbanisation, which is expected to drive development in the sales volume of the blanket market.
Business Growth Drivers:
- Increasing Demand for Home Textiles: The growing preference for aesthetically pleasing and comfortable home environments is driving the demand for blankets, bolstered by factors such as rising disposable incomes and changing lifestyle trends.
- Expansion of E-Commerce Platforms: The proliferation of e-commerce channels has widened the reach of blanket manufacturers, allowing them to tap into a larger customer base both domestically and internationally, thereby boosting sales and revenue.
- Innovative Product Offerings: Companies investing in research and development to introduce innovative materials, designs, and functionalities in blankets are attracting consumers seeking unique and value-added products, contributing to market growth.
- Seasonal Variability: Fluctuations in weather patterns, particularly colder seasons in certain regions, create seasonal spikes in blanket demand, providing opportunities for market expansion through strategic inventory management and targeted marketing campaigns.
- Customization and Personalization Trends: Increasing consumer inclination towards personalized products and customizable options in home furnishings is driving the adoption of blankets that cater to individual preferences, fostering business growth for manufacturers offering such services.
Industry Restraints:
- Raw Material Price Volatility: The blanket industry is susceptible to fluctuations in the prices of raw materials such as cotton, wool, polyester, and down feathers, which can affect profit margins and pricing strategies, posing challenges for manufacturers.
- Intense Competition: The blanket market is highly competitive, characterized by the presence of numerous established and emerging players competing for market share, which can lead to pricing pressures and reduced profitability for companies, particularly those with limited differentiation.
- Supply Chain Disruptions: Disruptions in the global supply chain, whether due to natural disasters, geopolitical tensions, or pandemics, can impede the procurement of raw materials, production processes, and distribution networks, thereby hindering business operations and market growth.
- Environmental Concerns: Increasing awareness of environmental sustainability and eco-friendly practices is prompting consumers to seek blankets made from organic or recycled materials, thereby pressuring manufacturers to adapt their production processes and sourcing strategies to meet these demands, which can entail additional costs and complexities.
- Regulatory Compliance: Compliance with stringent regulations and standards pertaining to product safety, labeling requirements, and environmental regulations adds complexity and cost to blanket manufacturing processes, particularly for companies operating in multiple jurisdictions, potentially constraining business growth and profitability.
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.
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.
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.
Complete Market Review: A Full Report Analysis
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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