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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