Global Blanket Market Overview:
The blanket market is projected to reach 9.7 billion USD by 2027. The blanket market is growing at a healthy pace, with a growth rate of 4.2 percent from 2020 to 2027. Blankets have become necessary in nearly every field and have been used in the domestic sector for years. New homes setup and new hospitality ventures invest a lot in new blankets. The advent of different types of blankets, including electric blankets, has become a reason for blanket sales and popularity among people.
A blanket is used to keep oneself warm while sleeping and living in a cold place. The use of blankets in the military and defense establishments, mass procurement by travel and tourism ventures and donations to charity will drive sales of blankets in the coming years. Apart from new types of blankets, the ease of availability and different source materials are also driving the market towards growth. People are trying to avoid cold-related illnesses, and the increased use of AC has driven the sales of heavy blankets. All these factors will positively influence the CAGR of the Blanket Market in future forecasted years.
Market segmentation:
The global blanket market is divided into different segments based on result type, application field, the distribution channel for the blankets and geographical locations. The segmentation by region is discussed in the next section. By result type, the blankets are divided into sources of raw material such as cotton, polyester, and wool. Application blankets have domestic and commercial applications. The blankets are also segmented according to distribution channels, such as stores and channels that do not identify as stores. The circulation of blankets is far and wide because they are a necessary commodity for everyone.
Regional Analysis:
The major regions of the global blanket market are North America, Asia Pacific, Europe and the rest of the world. The North America and Europe region will lead by market share as these areas have colder climates, and the people here need high-quality blankets. In countries such as Canada and USA, the blanket choices have broadened into different types. The Asia Pacific regional market is forecasted to grow healthily and will be the fastest-growing region in the global business landscape. Fluctuations in climatic conditions and preference for high-quality blankets by middle-income families in China, India and Japan is a major driver of growth in the regional market.
Top Key Players:
The Key Blanket Market Players research are Pendleton Woolen Mills, Urbanara, Faribault Woolen Mill Co., Biddeford Blankets L.L.C., Hudson's Bay Company, Boll & Branch Co., American Blanket Company, Shanghai Easun Group, Medline Industries Inc., Kanata Blanket Company, Jarden Corporation, Beurer GmbH, New Zealand Wool Blankets Ltd., Barker Textiles, U.A.B. Silkeborg, Morphy Richards Ltd., among others.
Industry news:
In July 2021, Bearaby introduced the Travel Napper in the market. The blanket type was a weighted travel blanket that could be easily carried to places. The blanket weighs 10 lbs and can be a travel companion during airplane, rail, or bus travel.
In November 2019, the company Casper released a weighted blanket line with variations of 15, 20 and 10 lbs. The blanket had a microbead filling and came with a soft cover. The variation allowed customers more choice in blanket preference and was lightweight enough to be carried during travel. Such new developments keep the growth rate up for the blanket market.
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