Summary
- • The global blanket market size is projected to reach $9.8 billion by 2027.
- • The North America blanket market is expected to grow at a CAGR of 4.2% from 2020 to 2027.
- • The Asia Pacific region accounted for over 35% of the global blanket market share in 2019.
- • Electric blankets market size was valued at $784.4 million in 2019.
- • Woolen blankets segment held a market share of over 30% in 2019.
- • The global weighted blanket market is expected to grow at a CAGR of 5.9% from 2020 to 2027.
- • Polyester blankets segment dominated the market with a share of over 40% in 2019.
- • The demand for fire-resistant blankets is expected to witness significant growth in industrial applications.
- • The market for organic blankets is expected to grow due to increasing awareness about sustainable products.
- • Online sales of blankets are expected to increase due to the growing trend of e-commerce.
- • The blanket market in Europe is driven by the demand for premium quality and luxury blankets.
- • The demand for travel blankets is growing due to increasing travel activities.
- • The market for baby blankets is expected to witness strong growth due to increasing emphasis on baby comfort.
- • The U.S. market for blankets is driven by consumer preference for soft and cozy materials.
- • Blanket sales in the hospitality sector are expected to increase with the growth of the tourism industry.
Get ready to snuggle up with some fascinating facts about the blanket industry! With the global blanket market projected to reach a whopping $9.8 billion by 2027, it’s clear that this cozy sector is on the rise. From the North American market growing at a steady 4.2% to the dominance of polyester blankets with over 40% market share, the industry is as diverse as the blankets themselves. Whether you’re a fan of electric, woolen, weighted, or even fire-resistant blankets, there’s a blanket out there for everyone – and the market is only getting warmer. So, grab your favorite throw, because we’re about to dive into the world of blankets like never before!
1 Regional blanket market analysis
- The North America blanket market is expected to grow at a CAGR of 4.2% from 2020 to 2027.
- The Asia Pacific region accounted for over 35% of the global blanket market share in 2019.
- The blanket market in China accounted for over 25% of the Asia Pacific market share in 2019.
- The blanket market in Latin America is projected to witness steady growth due to changing lifestyle trends.
Interpretation
Despite facing the occasional breeze of uncertainty, the Blanket Industry seems to be wrapping itself in a narrative of growth and comfort. North America is setting the pace with a promising CAGR of 4.2%, while the Asia Pacific region is proving to be a heavyweight contender, controlling over 35% of the global blanket market share. China, proudly tucking in over a quarter of the Asia Pacific market share in its cozy embrace, is undoubtedly the snuggly giant in the room. Meanwhile, Latin America seems poised to catch some Z's with steady growth, as changing lifestyle trends keep its dreams warm and toasty. Regardless of which corner of the world you find yourself in, these statistics prove that the Blanket Industry is a soft spot in the market that continues to provide warmth and security, even in the chilliest of economic climates.
3 Specialized blanket market segments
- The global blanket market size is projected to reach $9.8 billion by 2027.
- Electric blankets market size was valued at $784.4 million in 2019.
- Woolen blankets segment held a market share of over 30% in 2019.
- The global weighted blanket market is expected to grow at a CAGR of 5.9% from 2020 to 2027.
- Polyester blankets segment dominated the market with a share of over 40% in 2019.
- The demand for fire-resistant blankets is expected to witness significant growth in industrial applications.
- The market for personalized blankets is expanding with the popularity of customized products.
- The military blankets market is witnessing growth due to the need for durable and functional blankets in defense applications.
- The global economy blanket market is estimated to reach $10.5 billion by 2027.
- Microfiber blankets segment is projected to grow at a CAGR of 6.5% from 2020 to 2027.
- Cotton blankets segment is anticipated to witness significant growth in the coming years.
- Military-grade wool blankets are in demand for their durability and insulation properties.
- Anti-allergenic blankets are gaining popularity among consumers with allergies or sensitive skin.
- Fleece blankets segment held a market share of over 20% in 2019, driven by their softness and warmth.
- The market for pet blankets is experiencing growth due to increased pet ownership and pampering.
- The demand for weighted blankets for sensory integration therapy is driving growth in the healthcare sector.
Interpretation
In a world where the blanket industry's statistics are not to be taken lightly, the numbers speak volumes about our evolving preferences for comfort and practicality. From the dominance of polyester blankets to the rise of personalized and fire-resistant options, there's a blanket for every need and niche. As the global economy blanket market wraps itself around an estimated $10.5 billion by 2027, it's clear that the demand for warmth, style, and functionality shows no signs of cooling off. Whether you're snuggling up under a military-grade wool blanket or pampering your furry companion with a pet blanket, one thing is certain - the blanket business is definitely not a snooze fest.
4 Technological advancements in the blanket industry
- The adoption of smart blankets embedded with technology for temperature control is on the rise.
Interpretation
As cozy as it sounds, the blanket industry is heating up with the adoption of smart blankets that can keep you warm without breaking a sweat. Gone are the days of choosing between sticking a leg out for cooling or burying yourself under layers of blankets - now you can have the perfect temperature at the touch of a button. It seems the future of blankets is no longer just about thread count, but about high-tech solutions to our eternal struggle between staying snug and staying cool.
5 Consumer preferences and demands in the blanket market
- The market for organic blankets is expected to grow due to increasing awareness about sustainable products.
- Online sales of blankets are expected to increase due to the growing trend of e-commerce.
- The blanket market in Europe is driven by the demand for premium quality and luxury blankets.
- The demand for travel blankets is growing due to increasing travel activities.
- The market for baby blankets is expected to witness strong growth due to increasing emphasis on baby comfort.
- The U.S. market for blankets is driven by consumer preference for soft and cozy materials.
- Blanket sales in the hospitality sector are expected to increase with the growth of the tourism industry.
- The demand for cooling blankets is rising with increasing awareness of temperature regulation for better sleep.
- The market for weighted blankets is driven by increasing awareness of their benefits for anxiety and sleep disorders.
- The demand for eco-friendly blankets is increasing with growing environmental concerns among consumers.
- The market for electric heating blankets is expected to witness high demand during the winter season.
- The blanket market in India is driven by the increasing adoption of premium blankets for home decor.
- The market for luxury blankets is growing due to the demand for high-quality and fashionable bedding products.
- Blanket sales through departmental stores are expected to continue dominating the distribution channel.
- The market for affordable blankets is expanding to cater to budget-conscious consumers.
- The demand for anti-bacterial blankets is increasing with a focus on hygiene and cleanliness.
- The market for electric throw blankets is growing with the rising trend of home comfort and convenience products.
- Organic cotton blankets are gaining popularity due to sustainable and chemical-free material preferences.
- The market for reversible blankets is expanding as consumers seek versatile and multi-functional bedding options.
Interpretation
As the world wraps itself up in the blanket industry's diverse offerings, it's clear that the fabric of consumer preferences is ever-changing and warming up to new trends. From the organic and eco-friendly wave sweeping across sustainability shores to the electric and weighted innovations designed to ease anxieties and sleepless nights, the market is a patchwork of comfort and convenience. Whether it's the premium luxury sought after in European beds or the affordable coziness craved by budget-conscious consumers, the blanket landscape is a tapestry of evolving demands. So as we snuggle under our reversible, anti-bacterial, or cooling blankets, let's remember that in this industry, every thread we weave tells a story of consumer consciousness, comfort, and the ever-present quest for the perfect night's sleep.
