Is the Blanket Market Ready for a Revolution? Discover the Latest Innovations!

Executive Summary

The global blanket market is projected to grow from USD 15.07 billion in 2023 to USD 23.34 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.45% . This growth is driven by increasing consumer demand for comfort products, rising disposable incomes, and advancements in textile technology. The market encompasses various segments, including product types, materials, distribution channels, and regions, each contributing to the overall expansion.​

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Blanket Market Segmentation:

By Product Type

  • Regular Blankets: Traditional blankets used for general purposes, maintaining steady demand due to their affordability and versatility.​
  • Electric Blankets: Gaining popularity in colder regions for their ability to provide adjustable warmth, enhancing user comfort.​
  • Weighted Blankets: Recognized for therapeutic benefits, particularly in alleviating anxiety and improving sleep quality.​
  • Others: Includes specialized blankets like heated, quilted, and travel blankets, catering to niche consumer needs.​

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By Material

  • Wool: Valued for its natural insulation properties, making it ideal for colder climates.​
  • Cotton: Preferred for its breathability and softness, suitable for various weather conditions.​
  • Polyester: Dominates the market with a 33.8% share in 2023, appreciated for its durability and cost-effectiveness.
  • Others: Includes fleece, acrylic, and blended materials, offering a range of textures and functionalities.​

By Distribution Channel

  • Offline Retail: Comprises specialty stores, hypermarkets, and independent retailers, providing consumers with tactile shopping experiences.​
  • Online Retail: Experiencing rapid growth due to the convenience of e-commerce platforms, allowing consumers to access a wide variety of products.​

Blanket Market Regional Analysis:

Asia-Pacific

Holding the largest blanket market share at 37.1% in 2023, the Asia-Pacific region benefits from rapid urbanization, rising living standards, and increasing disposable incomes, particularly in countries like China and India.

North America

Expected to grow at the fastest CAGR during the forecast period, driven by consumer emphasis on home décor and comfort, along with the region's distinct seasonal variations.

Europe

Demonstrates steady growth, with consumers showing a preference for sustainable and high-quality home textiles.​

Middle East and Africa

Emerging markets in this region are witnessing increased demand due to urbanization and changing lifestyles.​

South America

Growth is supported by rising consumer awareness and expanding retail networks.​

Blanket Market Drivers:

  • Technological Advancements: Innovations in textile production, such as smart textiles and digital knitting machines, enhance product offerings.​
  • E-commerce Expansion: Online platforms have broadened consumer access to diverse blanket options, boosting market penetration.​
  • Health and Wellness Trends: Increasing awareness of mental health has propelled the popularity of weighted blankets for their therapeutic benefits.​
  • Sustainability Concerns: Growing environmental consciousness drives demand for eco-friendly and organic materials.​

Competitive Landscape

The blanket market is highly competitive, with key players focusing on innovation, quality, and sustainability to differentiate themselves. Notable companies include:​

  • American Blanket Company: Known for high-quality, ultra-soft fleece blankets made in the USA.​
  • Pendleton Woolen Mills: Renowned for woolen blankets inspired by Native American designs, with a legacy dating back to 1909 .​
  • Boll & Branch LLC: Offers luxury bedding products made from organic cotton, emphasizing ethical production practices .​
  • Casper Sleep Inc.: Provides a range of sleep products, including innovative blanket designs.​
  • Brooklinen: Delivers premium home textiles with a focus on comfort and style.​
  • Faribault Woolen Mill: Produces heritage woolen blankets with a commitment to craftsmanship.​

Blanket Market Trends and Opportunities:

  • Technological Advancements: Innovations such as smart textiles and temperature-regulating fabrics are enhancing product offerings.
  • Sustainability: Growing consumer preference for eco-friendly and sustainable blankets is influencing market dynamics.​
  • Home Decor Trends: The rise in home improvement and decor has intensified demand for stylish and comfortable blankets.​
  • E-commerce Growth: The convenience of online shopping is expanding consumer access and boosting market penetration.​

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Future Outlook

The global blanket market is poised for continued growth, driven by evolving consumer preferences, technological innovations, and expanding distribution channels. Companies that prioritize sustainability, quality, and customer-centric approaches are likely to gain a competitive edge in this dynamic market.​

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