Blanket Market to Show Incredible Growth and Forecast by 2027 | Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson’s Bay Company
Research Reports
Aug 16, 2023
Blanket Market Insights:
According to MRFR analysis, the blanket market is expected to register a CAGR of~4.2% from 2020 to 2027 and hold a value of over USD 9.7 billion by 2027.
The term Blanket Market is not a commonly used term in business or economics. A possible interpretation of the term could refer to the market for blankets, which would be a specific segment of the textile industry. The blanket market could include manufacturers, wholesalers, and retailers who produce, distribute, and sell blankets to customers.
The size of the blanket market would depend on various factors, such as the demand for blankets, consumer preferences, and market competition. The blanket market may also vary based on the types of blankets being sold, such as electric blankets, weighted blankets, or traditional blankets made from materials like wool, cotton, or synthetic fibers.
The COVID-19 pandemic had various impacts on the blanket market, as people spend more time at home due to lockdowns and restrictions, the demand for home goods, including blankets, has increased. Many people are using blankets not only for warmth but also as a way to create a cozy and comfortable home environment. This has led to an increase in sales of blankets, particularly for online retailers who have seen a surge in demand.
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Key Players:
Some of the key market players are: American Blanket Company (U.S.), Pendleton Woolen Mills (U.S.), Hudson’s Bay Company (Canada), Boll and Branch (U.S.), URBANARA GmbH (Germany), Shanghai Easun Group (China), Medline Industries Inc. (U.S.), Chellco Industries Limited (Nigeria), Biddeford Blankets LLC (U.S.)
Market Segmentation:
The blanket market has been segmented into Type, Material Type, Sales Channel and End-user.
Based on the Type, the market has been segmented into Electric Blanket and Regular Blanket
Based on the Material Type, the market has been segmented into wool, cotton and polyester.
Based on the Application, the market has been segmented into household and commercial.
Based on the End-User, the market has been segmented into Residential and Commercial
Based on the Sales Channel, the market has been segmented into Wholesalers/ Distributors, Hypermarkets/ Supermarkets, Specialty Stores, Multi-brand Stores, Independent Small Retailers, Online Retailers, and Others
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Regional Analysis:
Asia-Pacific is one of the largest regions for the overall blanket market.
The increasing urbanization, changing lifestyles, and growing demand for comfortable and quality bedding products are driving the growth of the blanket market in the Asia-Pacific region. The growing middle class in countries like India and China is also a significant factor driving the demand for blankets in this region.
North America and Europe are also major markets for blankets, with the demand driven by factors such as cold weather and a high standard of living.
Based on the end-user, the market has been segmented into store-based and non-store-based.
Key Drivers of the Market:
- Increasing demand for comfort and luxury: Blankets are increasingly being used as a way to add comfort and luxury to the home. Consumers are looking for blankets that are soft, warm, and stylish. This is driving demand for high-quality blankets made from natural fibers, such as wool and cotton.
- Rising disposable incomes: The rising disposable incomes of consumers in developing countries is also driving the growth of the blanket market. Consumers in these countries are now able to afford to buy more expensive blankets, which is contributing to the growth of the market.
- Changing lifestyles: Changing lifestyles are also driving the growth of the blanket market. More people are now working from home, which means that they are spending more time in their bedrooms. This is leading to increased demand for blankets that can be used to keep warm and comfortable while working or sleeping.
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