Blanket Market Growth Prospects, Competitive Landscape and Forecast, 2022

The Blanket Market is subject to witness a substantial growth due to the growing consumer awareness, wide range of prices and design available in the market. Introduction of electric blankets are expected to attract more customers, thus boosting overall sale of the product.

Increase in number of advantages associated with the product coupled with growing population are some of key driving factors for the sustained growth of market, in the recent years. Globally, the market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for market players to invest for further development in the blanket market.

Increase in spending by consumers and improved living standards in both developing and underdeveloped economies across the globe are expected to favor market growth over the forecast period. Blanket provides necessary warmth, particularly in the winter, and are properly insulated. Introduction of electric blanket is gaining wide recognition in the Asia Pacific and North America region, thus expanding overall market reach of the blanket industry. Increasing consumer preference towards electric blanket is attributed to the numerous benefits that allow consumers to access multiple features and deliver maximum comfort.

Increasing investment by international manufacturers has led to development of innovative features such as waterproof blankets; battery-powered blankets that consists of mobile chargeable sockets are expected to offer lucrative growth opportunities in upcoming years. Addition of lightweight, durable, machine washable and water resistant blanket are estimated to drive more consumer in the near future as well.

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Furthermore, exclusive features such as machine washable and stain resistant blankets make, which are friendlier and comfortable to users, are gaining traction in the end-user market in the recent years. Increasing demand form countries with extreme weather condition are propelling market demand for blanket over the forecast period.

The market is broadly categorized into five major segments based on the product type such as woven acrylic blankets, knitted polyester blanket, cotton blanket, electric cotton blanket, and wool blanket. The wool blanket is considered as one of the faster growing segment in the blanket market with substantial revenue generation in the last few years. Growing popularity of the wool blanket segment is attributed to its properties. Electric cotton blanket segment also witnesses substantial growth owing to enhanced capacity to control the amount of heat the blanket produces.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in blanket manufacturing sector, high-end popularity of electric blanket, harsh atmospheric conditions, and existence of well-established industry players in the region.

Asia-Pacific region is predicted to hold major market share in the blanket market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with ever-growing population, improved living standards, rising per capita income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the blanket market are Hudson’s Bay Company, Honeywell International Inc., American Blanket Company, Kanata Blanket Co., Boll & Branch Co., and Shanghai Easun Group Imp & Exp Co., Ltd.

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