Press Release

Blanket Market to Grow with a CAGR of 6.21% Globally through 2028

The global Blanket market is experiencing steady growth, driven by increasing demand for cosmetic products, evolving beauty trends, and a surge in online sales channels.

 

According to TechSci Research report, “Global Blanket Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Blanket Market stood at USD 7.6 Billion in 2022 and is anticipated to grow with a CAGR of 6.21% in the forecast period, 2024-2028. The Global Blanket Market is driven by consumer demand for comfort and style. Diverse materials, including eco-friendly options, cater to various preferences. Design aesthetics and customization appeal to style-conscious consumers. E-commerce platforms have expanded market reach. However, challenges include economic uncertainties, environmental concerns, changing consumer preferences, competitive pressures, and market consolidation. The emergence of electric and smart blankets addresses modern needs, while sustainability becomes crucial. Handcrafted and versatile blankets are gaining popularity, and inclusivity in sizing is recognized. The Global Blanket Market is evolving in response to dynamic trends and challenges, offering opportunities for innovation and adaptation. The Global Blanket Market is propelled by multifaceted drivers that collectively contribute to its growth and adaptability. First and foremost, consumer demand for comfort remains a dominant force shaping the market landscape. Blankets are fundamental to creating cozy living spaces, satisfying the universal desire for warmth and relaxation. This enduring need ensures a consistent market demand, with consumers seeking blankets that not only serve a practical function but also align with their aesthetic preferences and lifestyle choices.Diversity in material options is another key driver, offering consumers a broad spectrum of choices to suit their specific needs and preferences. Blankets are crafted from various materials, including traditional options like cotton and wool, as well as contemporary choices such as fleece and synthetic blends. The availability of eco-friendly materials, responding to the growing sustainability trend, adds another layer to the market's versatility. Consumers increasingly prioritize blankets made from organic or recycled materials, reflecting a broader consciousness about environmental impact.

 

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Fashion and design aesthetics emerge as pivotal drivers, transforming blankets from utilitarian items into style statements and fashion accessories. Blankets are chosen not only for their functionality but also for their ability to complement home décor and express personal style. This trend has led to an influx of unique designs, patterns, and color schemes, catering to the diverse tastes of consumers seeking blankets that align with their individual aesthetic preferences. The convenience and accessibility offered by e-commerce and online retail platforms constitute a significant driver in the blanket market's evolution. Online shopping has become a preferred avenue for consumers to browse, compare, and purchase blankets from an extensive range of suppliers. The digital marketplace facilitates a seamless shopping experience, enabling consumers to explore different brands, materials, and designs with the click of a button. This online presence not only broadens market reach but also intensifies market competition, pushing manufacturers to enhance product offerings and customer engagement.

In parallel, the emergence of electric blankets and smart blankets is reshaping the market dynamics. The integration of technology into blankets, providing features like adjustable temperature settings and connectivity to mobile devices, caters to consumers seeking not just warmth but also innovation and convenience. This tech-driven trend aligns with the broader shift toward smart home technology and connected living, making electric blankets a desirable option for modern consumers. Furthermore, sustainability is increasingly influencing the blanket market, serving as both a driver and a response to consumer expectations. The industry is witnessing a shift toward eco-friendly trends, with manufacturers incorporating sustainable practices and materials into their production processes. Blankets made from organic cotton, bamboo, and recycled fibers are gaining popularity as consumers seek products that align with their environmental values. In summary, the Global Blanket Market is driven by a combination of factors, including enduring consumer demand for comfort, the diversity of material options, the influence of fashion and design aesthetics, the convenience of e-commerce, the integration of technology in electric and smart blankets, and the growing emphasis on sustainability. These drivers collectively propel the market's evolution, providing opportunities for innovation and adaptation to meet the dynamic demands of consumers worldwide. The online segment of the global blanket market has experienced remarkable growth in recent years. This expansion is primarily attributed to the increasing prevalence of e-commerce platforms and shifting consumer preferences. Online sales offer unmatched convenience and accessibility, allowing consumers to explore a vast array of blanket options from the comfort of their homes. Online shopping enables consumers to make informed decisions through customer reviews and ratings, while also providing access to a global marketplace. As consumers become more tech-savvy and digital shopping continues to flourish, the online segment is poised to remain a significant and growing part of the blanket market.

 

Major companies operating in Global Blanket Market are:

  • American Blanket Company
  • Pendleton Woolen Mills
  • Hudson's Bay Company
  • Boll & Branch
  • URBANARA GmbH
  • Shanghai Easun Group
  • Medline Industries, Inc.
  • Chellco Industries Limited
  • Biddeford Blankets, LLC
  • Youngman Woollen Mills Private Limited

 

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“The global blanket market is driven by several key factors, including consumer demand for comfort, diverse material options, the pursuit of sustainability, fashion-forward design aesthetics, and the convenience of online shopping. These drivers have fueled the market's growth and transformation, offering consumers a wide range of choices, from traditional to high-tech blankets. Despite the growth, the industry faces challenges like economic uncertainties, environmental concerns, changing consumer preferences, market competition, and consolidation. However, the emerging trends of smart blankets, sustainability, customization, and inclusivity are likely to shape the market's future. The blanket market continues to evolve in response to dynamic trends and challenges, offering opportunities for innovation and adaptation.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Blanket Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Regular Blanket, Electric Blanket), By Application (Residential, Commercial), By Sales Channel (Supermarkets/Hypermarkets, Multi Branded Stores, Online, Others), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Blanket Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Blanket Market.


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