Global Blanket Market, Size, Trends, By Product Type (Regular Blanket, Electric Blanket), By Material Type (Wool, Polyester, Cotton), By Distribution Channel (Hypermarkets/Supermarkets, E-Commerce, Multi-Brand Stores), By Application (Hospital, Household, Hotel) and By Region (North America, Latin America, Europe, Asia Pacific, Central America and Africa): Global Opportunity Analysis and Industry forecast, 2023-2030.
Global Blanket Market
With a CAGR of 3.34 % from 2023 to 2030, the Global Blanket Market is expected to grow from its estimated value of US$ 8.37 Bn in 2022 to US$ 11.37 Bn by 2030.
A blanket is a piece of soft, woollen clothing that is mostly used to keep the body warm while resting or sleeping. Regular blankets are constructed of cotton, wool, or polyester. Additionally, electric blankets, a relatively new form of blanket, are widely accessible all over the world. Both electric and conventional blankets are frequently used throughout the winter and in cold or snowy weather.
Market Drivers
Due to variables such as the increased need for wool blankets, particularly during the winter and in cold areas, it is projected that there will be a large increase in demand for blanket services over the anticipated period. Additionally, the increased use of different blankets in hotels and hospitals around the world has increased market demand.
The rising consumer spending will further accelerate the blanket market's growth rate. Over the anticipated timeframe, greater urbanisation and the growing use of electric blankets will both contribute to market value growth. The availability of blankets in a variety of colours and patterns as well as the rise in disposable income further contribute to the market's expansion.
Market Restraints
However, considerations like the expensive price of electric blankets will make affordability problems worse. This will make it more difficult for the blanket market to expand.
The lack of knowledge regarding electric blankets in many parts of the world will work against the blanket industry. Therefore, it is projected that this aspect will pose a threat to the overall market growth rate.
Market Segmentation
The scope of the Global Blanket Market covers segmentation based on By Product Type, By Material Type, By Distribution Channel, By Application, and By Region.
By Product Type, the market is segmented into Regular Blanket, Electric Blanket. By Material Type, the market is segmented into Wool, Polyester, Cotton. By Distribution Channel, the market is segmented into Hypermarkets/Supermarkets, E-Commerce, Multi-Brand Stores. By Application, the market is segmented into Hospital, Household, Hotel.
Regional Analysis
The Global Blanket Market is segmented into 5 main regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Asia-Pacific currently has a dominant position in terms of market revenue and market share, and this trend is expected to continue. The expansion of a sizable consumer base and the increasing use of electric blankets in the area are credited with driving market growth in this area.
The use of various blankets in hospitals and hotels as well as the increased use of electric blankets in the region are expected to cause North America to develop profitably throughout the projected period.
Key Players
American Blanket Company, Pendleton Woolen Mills, Amritsar Swadeshi Textile Corporation Pvt. Ltd., Hudson's Bay Company, Boll & Branch, URBANARA GmbH, Shanghai Easun Group, Medline Industries, Inc., Chellco Industries Limited, Biddeford Blankets, LLC.
Market Taxonomy
By Product Type
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