The Latest Blanket Industry Statistics Explained
The global blankets market size was valued at USD 17.0 billion in 2020.
The statistic ‘The global blankets market size was valued at USD 17.0 billion in 2020’ indicates the total revenue generated from the sales of blankets worldwide during the year 2020. This figure reflects the economic significance of the blankets industry on a global scale and suggests that there is a high demand for blankets among consumers. The market size value of USD 17.0 billion highlights the size and scope of the blankets market, making it a substantial sector within the broader textile industry. This statistic provides insights into the market trends, consumer preferences, and overall growth potential for businesses operating in the blankets industry.
The blanket market is projected to exhibit a CAGR of 4.5% during the forecast period from 2021 to 2028.
This statistic indicates that the blanket market is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.5% over the forecast period stretching from 2021 to 2028. A CAGR of 4.5% suggests a steady, moderate rate of growth in the market size and demand for blankets during this timeframe. This projection is based on historical data, current market trends, and future expectations. The CAGR provides a smooth annualized growth rate that accounts for any fluctuations in growth over the specified period, making it a useful metric for understanding the overall growth trajectory of the blanket market in the coming years.
The blankets segment commanded a market share of over 70% in 2020 in the total Bed Linen & Bed Spread Market.
This statistic indicates that the blankets segment, within the broader market of bed linen and bedspreads, had a significant influence and dominance, capturing more than 70% of the market share in 2020. This implies that a large majority of consumers in the market allocated their spending towards purchasing blankets specifically, compared to other types of bed linens and bedspreads. This high market share suggests that blankets held a strong competitive edge, likely due to factors such as consumer preferences, marketing strategies, product quality, and brand reputation. The statistic highlights the blankets segment as a key player in the bed linen market landscape, showcasing its importance and popularity among consumers during the specified period.
In 2020, supply chain disruptions due to the COVID-19 pandemic led to a temporary slowdown in the blanket industry.
The statistic states that in 2020, the blanket industry experienced a temporary slowdown due to supply chain disruptions caused by the COVID-19 pandemic. This slowdown likely resulted from various factors such as disruptions in the transportation and manufacturing processes, limitations in raw material availability, and shifts in consumer demand patterns. The pandemic led to global uncertainty and restrictions that impacted the industry’s ability to operate at full capacity, resulting in a temporary reduction in production and sales. The blanket industry’s experience serves as a reflection of the widespread economic effects of the pandemic on various sectors, highlighting the vulnerabilities of supply chains in times of crisis.
Cotton blankets have the maximum demand and held nearly 45% of the market share in 2020.
The statistic implies that cotton blankets were the most popular choice among consumers in 2020, holding a significant market share of 45%. This indicates that cotton blankets were in high demand compared to other types of blankets within the market during that year. The high market share suggests that consumers favored cotton blankets due to various factors such as comfort, breathability, durability, or perhaps affordability. The statistic highlights the dominance of cotton blankets in the market and signifies the preferences of consumers for this particular type of blanket in 2020.
Synthetic blanket segment is projected to see growth at a CAGR of over 5.5% from 2021 to 2028.
This statistic indicates that the synthetic blanket segment is expected to experience a Compound Annual Growth Rate (CAGR) of over 5.5% between 2021 and 2028. This Growth Rate suggests a steady and consistent increase in the demand for synthetic blankets over the specified period. Factors such as changing consumer preferences, technological advancements, and increasing awareness of the benefits of synthetic blankets may contribute to this projected growth. Businesses operating in the synthetic blanket industry can use this information to make strategic decisions, such as expanding production capacity or investing in marketing efforts to capitalize on this anticipated growth trend.
Online distribution channel for blankets is projected to witness the fastest growth between 2021 and 2028.
This statistic suggests that the online distribution channel for blankets is expected to experience the most rapid increase in sales and popularity between 2021 and 2028. The projection indicates that consumers are increasingly turning to online platforms, such as e-commerce websites and mobile apps, to purchase blankets, leading to a surge in demand for this distribution channel. Factors contributing to this growth may include the convenience, wider selection, competitive pricing, and ease of comparison shopping that online platforms offer to consumers. As a result, businesses in the blanket industry may need to prioritize their online presence and marketing strategies to capitalize on this trend and stay competitive in the market.
Asia Pacific held the largest market share of 31.7% in 2020.
This statistic indicates that the Asia Pacific region had the highest market share, accounting for 31.7% of the total market in 2020. This means that businesses in the Asia Pacific region had a significant presence and impact on the industry compared to other regions globally. The high market share suggests that the region experienced substantial economic activity and growth, likely driven by factors such as population size, industrial development, and consumer demand. Companies operating in this region may have had a competitive advantage and strong market position, influencing industry trends and dynamics on a global scale.
North America is expected to expand at the fastest CAGR of 5.2% from 2021 to 2028.
This statistic indicates that the North America region is projected to experience the highest Compound Annual Growth Rate (CAGR) of 5.2% between 2021 and 2028 compared to other regions. This suggests that economic activity and market growth in North America are anticipated to be strong and sustainable over the specified timeframe. The CAGR is a measure used to represent the mean annual growth rate of an investment or market over a specified period of time, and a CAGR of 5.2% signifies rapid and consistent growth for the North American region. This forecast implies potential opportunities for businesses and investors in North America, as the region is expected to outpace other regions in terms of expansion and market development.
Electric blanket market size was valued nearly USD 765.5 million in 2018.
The statistic “Electric blanket market size was valued nearly USD 765.5 million in 2018” represents the total monetary value of electric blankets sold in the market during the year 2018. This figure indicates the overall revenue generated by the sale of electric blankets in that particular year. The market size serves as a key indicator of the industry’s scope and economic significance. In this case, the substantial value of USD 765.5 million demonstrates the demand for electric blankets among consumers and the potential growth opportunities within the market. This statistic is crucial for businesses, investors, and policymakers to understand the market dynamics and make informed decisions related to product development, marketing strategies, and resource allocation.
Electric blanket market is projected to reach nearly USD 1,052.3 million by 2026.
The statistic that the electric blanket market is projected to reach nearly USD 1,052.3 million by 2026 indicates a forecasted increase in the market value of electric blankets over the coming years. This projection suggests that there is expected growth in the demand for electric blankets, likely driven by factors such as consumer preferences for convenient and energy-efficient heating solutions, advancements in technology leading to more innovative and feature-rich electric blanket products, as well as changing weather patterns and increased awareness of the benefits of using electric blankets. The figure of USD 1,052.3 million serves as an estimation of the total market size that electric blankets are expected to capture by 2026, providing valuable insights for businesses and stakeholders operating in this industry to make informed decisions and strategic planning.
The key market players (such as Beurer, BAG Corp, and Perfect Fit Industries) are expected to invest more in R&D on blankets.
The statistic indicates that prominent companies in the blanket market, including Beurer, BAG Corp, and Perfect Fit Industries, are anticipated to increase their investments in research and development (R&D) activities specifically focused on blankets. This suggests that these key market players are recognizing the importance of innovation and technological advancements within the blanket industry to strengthen their competitive position, enhance product quality, and cater to changing consumer preferences. By allocating more resources to R&D, these companies aim to develop new and improved blanket products that can potentially drive growth, captivate a larger market share, and meet the evolving needs and demands of consumers.
In 2020, conventional blankets segment dominated the market, with almost 90% share.
The statistic “In 2020, the conventional blankets segment dominated the market, with almost 90% share” indicates that in the year 2020, the conventional blankets category held the largest portion of the market compared to other types of blankets. This suggests that traditional blankets were the preferred choice among consumers during that time, capturing a significant majority of the market share at around 90%. This dominance could be attributed to factors such as consumer preferences, pricing, quality, and brand reputation within the conventional blankets segment. As a result, competitors in other blanket categories may have faced challenges in gaining a foothold in the market due to the overwhelming popularity and demand for conventional blankets.
The Premium price range segment held the biggest market share, approximately 50% in 2020.
This statistic indicates that the Premium price range segment of products or services dominated the market in 2020, holding the largest share at around 50%. This suggests that consumers showed a strong preference for higher-priced offerings within this particular product or service category. Companies operating within the premium price range segment likely enjoyed significant market demand and potentially higher profitability compared to competitors in other price ranges. Understanding this market share distribution can help businesses tailor their strategies to capitalize on the popularity of premium offerings and potentially increase their market share further in the future.
The commercial sector held the dominant share of more than 55.0% in 2020.
The statistic indicates that in 2020, the commercial sector controlled over 55.0% of the total market share within a specific industry or economy. This suggests that commercial entities, such as businesses and enterprises, were the primary players in terms of market presence and influence during that year. The dominance of the commercial sector highlights their significant impact on the industry, potentially wielding greater economic power, resources, and influence compared to other sectors. This statistic may reflect the importance of commercial activities, including sales, services, and transactions, within the overall market landscape, showcasing the sector’s strong position and competitiveness in driving the industry forward.
Wool blankets represent the second most preferred blankets globally.
The statistic that “wool blankets represent the second most preferred blankets globally” indicates that among all types of blankets available worldwide, wool blankets are ranked as the second choice in terms of popularity or desirability. This implies that consumers across various regions and cultures have shown a high preference for wool blankets, considering factors such as comfort, warmth, durability, and possibly other perceived benefits associated with wool material. The statistic suggests that wool blankets are widely accepted and valued by a significant portion of the global population, positioning them as a leading choice in the global blanket market.
Throw blankets are expected to observe significant growth of over 5% CAGR during the forecast period.
This statistic indicates that the market for throw blankets is projected to experience a substantial increase in size at a compound annual growth rate (CAGR) of over 5% during the specified forecast period. This suggests a strong and steady upwards trend in the demand for throw blankets, with a consistent annual growth rate of at least 5%. Factors contributing to this growth could include increasing consumer preference for home decor items, changing interior design trends, and the versatility and comfort offered by throw blankets. The projection of significant growth in this market suggests opportunities for businesses operating within the throw blanket industry to capitalize on this ongoing trend and potentially expand their market share.
The baby blanket industry is expected to expand with a CAGR of approximately 3.2% over 2021-2027.
This statistic indicates that the baby blanket industry is projected to grow at a Compound Annual Growth Rate (CAGR) of around 3.2% from 2021 to 2027. This growth rate suggests a steady and consistent expansion in the market for baby blankets over the specified time period. A 3.2% CAGR implies that the industry’s revenue, production, or other relevant metrics are expected to increase by an average of 3.2% annually during this period. Factors driving this growth could include increasing demand for baby blankets, emerging trends in product design and materials, as well as potentially favorable economic conditions impacting consumer behavior in the baby product sector.
The weighted blanket market size was valued at USD 194.6 million in 2020.
This statistic indicates the total value of the weighted blanket market in terms of sales revenue for the year 2020, which was estimated to be USD 194.6 million. The market size figure represents the aggregate value of all weighted blankets sold during that specific period. This information is crucial for businesses operating in the weighted blanket industry as it helps them understand the overall demand and opportunities within the market. It also provides insights into the growth potential of the market, which can be valuable for strategic decision-making, investment planning, and market analysis within this niche product category.
The weighted blanket market is projected to reach USD 1.31 billion by the year 2027.
The statistic that the weighted blanket market is projected to reach USD 1.31 billion by the year 2027 indicates the anticipated total value of sales in this market segment by that year. This projection suggests significant growth and demand for weighted blankets, driven by factors such as increasing awareness of the potential benefits of weighted blankets for improving sleep quality and reducing anxiety. The market size serves as a key indicator for stakeholders, including manufacturers, investors, and retailers, to gauge the scale of opportunities and potential profitability in the weighted blanket industry over the coming years. This statistic can inform strategic decision-making, investment planning, and market positioning for companies operating within or considering entering the weighted blanket market.
References
0. – https://www.marketresearchforecast.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.gminsights.com
3. – https://www.www.globenewswire.com
4. – https://www.reports.valuates.com
5. – https://www.www.alliedmarketresearch.com
