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Global Blankets Market Is Estimated To Reach More Than USD 2.4 Billion By 2027, Likely To Grow With a CAGR of 5.4 % During The Forecast Period.
Blankets are the type of materials which are soft fabric and which keeps the body warmth and comfort during winters. Over the last few years it has been observed that the change in climate and the change in temperature have drastically affect the environment and due to which use of blankets have increased enormously. This fluctuation in weather has played a major role in increase in demand of blankets market. Blankets offer lot of benefits such as it reduces anxiety, improves speed quality and boosts mood of an individual. Moreover consumers are spending lot of money in keeping them and their homes warm during winters. So companies are into manufacturing blankets with various benefits and provide maximum comfort at the same time. Nowadays manufacturers are adopting various natural sustainable way of producing blankets by using many raw materials which are in abundant such as wool, organic cotton and bamboo. With the use of such items the market value of these products is increasing are they have relatively higher market share as compared to the use of other materials in manufacturing blankets.
Growing population and increase in number of benefits related to product is the major contributor to the success of the Blankets market
Enhancing the features like machine washing and stain resistant by various manufacturers are contributing to foster the growth of blankets market. Increase in investment in providing numerous innovative features such as battery powered blankets, waterproof blankets are anticipated to show profitable growth opportunities during the forecast period. The major factor restraining the growth of Blankets market is the improper use of electric blanket, overheating the body for pregnant lady is risky and may hamper the growth of blanket market. However, these electric blankets consume very less amount of energy which reduces the electricity bill during winters. Many innovative features of these blankets are attracting consumers who are aged above sixty as their body is more sensitive and they require efficient way of taking care. The use of blankets is increasing especially in defence and military and also in various hotels. So these blankets offer various advantages over the traditional way of using blankets which is the major factor propelling the market growth in the upcoming years.
Electric Blanket segment of blanket market is anticipated to capture highest share in the market as compared to regular blanket owing to low heating cost. Additionally, these electric blankets are cheaper as compared to heaters also they can absorb moisture due to which private consumption is increasing and that is why the residential segment is expected to grow in the near future. The consumer buying behaviour is highly influenced by many factors related to pattern, material, and luxury of products while buying. Considering all these factors and manufacturing products according to their preferences will play a crucial role in uplifting the market growth.
North America Dominates the Global Blankets Market
Geographically, North America has the highest market share in the Blankets market in which U.S accounts for major market share within this region. These blankets help them to survive during harsh climates during winters which are providing sustainable and cost effective advantages. Additionally, blanket manufacturers are focusing into sustainable use of materials in the production of blankets which focus on safety and security of consumers as well as environment. Europe also accounts for significant market share in this market owing to increase in disposable income and presence of health related complications during winters due to harsh climate. Improvement in the lifestyle related to affordability and comfort ability the demand for blankets is increasing significantly and which will contribute to the growth of blankets market during the forecast period.
Some of the reputed players operating in this market include The Bombay Dyeing, Hudson’s Bay Company, Pendleton Woolen Mills, Kanata Blanket Company, American Blanket Company, Shanghai Easun Group, Morphy Richards Ltd., Faribault Woolen Mill Company and Others. Most of these players have dominant presence in Asia Pacific and Europe region. Besides this, increasing concerns related to security and health of consumers during long winters. Developing and Under-developed countries have significantly invested in R&D activities which are thereby contributing to the development of innovative technologies for the use of blankets which will enormously create higher opportunities for the blanket manufacturers. With the help of mergers and acquisitions done by various major players the brand image and demand of product in the customers mind have increased it is also due to use of innovative technologies and promotional strategies.
Global Blankets Market by Product Type
- Regular Blanket
- Electric Blanket
Global Blankets Market by Material Type
Global Blankets Market by End Use
Global Blankets Market by Distribution Channel
- Online Stores
- Speciality Stores
- Multiband Stores
- Independent Retail Stores
Global Blankets Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa