Global Blanket Market Overview, 2024-29
- Bonafide Research
- 22-10-2024
- Region : Global
- Category : Consumer Goods & Services
- Household Goods
The Global blanket market is forecasted to grow over 9% CAGR through 2029, spurred by rising demand in hospitals and hotels.
Blanket Market Analysis
The global blanket market is witnessing robust growth, driven by an increasing emphasis on comfort, wellness, and home decor. As consumers prioritize quality and aesthetics in their bedding choices, blankets have evolved from mere functional items to essential components of interior design. A blanket is a piece of woollen soft cloth that is specifically used to keep body temperature warm while sleeping or taking rest. The material used to manufacture blankets is made up of cotton, wool, or polyester. Electric blankets introduced in the market are trending and gaining popularity amid consumers, owing to its multiple benefits. The expansion of online retail platforms simplifies blanket purchases, enhancing consumer access and choice. For instance, platforms such as Amazon and Etsy offer a vast selection, from budget options to premium brands. Digital marketing campaigns and the convenience of home delivery further drive market growth. Consumers can easily compare products, read reviews, and enjoy doorstep delivery, making online shopping a preferred method for buying blankets. Seasonal fluctuations in demand due to weather changes create challenges for the blanket market, with peak sales during cold months and reduced demand in warmer seasons. This variability complicates production planning and inventory management, leading to potential revenue losses during off-peak periods and excess inventory accumulation during peak seasons, impacting market stability and profitability. Economic expansion and rising disposable incomes often correlate with increased consumer spending on home goods and furnishings, including blankets. Consumers became more willing to invest in higher quality blankets and bedding products, during the historical period, as economies grew and household incomes rose. Berkshire Hathaway Inc. is a leading manufacturer of home textiles, Berkshire Hathaway offers a variety of blankets under different brands, focusing on quality and comfort. Tranquillo is known for its sustainable and eco-friendly approach, Tranquillo provides stylish blankets made from organic materials, appealing to environmentally conscious consumers. According to the research report "Global Blanket Market Overview, 2029," published by Bonafide Research, the Global blanket market is anticipated to grow with more than 9% CAGR from 2024–2029. Rising adoption of various types of blankets in hospitals and hotels across the globe, increasing adoption of electric blankets in multiple regions and countries, growing preferences in terms of patterns, colors, brands, categories, and types of blankets, and increasing popularity and advertisement through multiple social media platforms globally are driving the global blanket market. The rapid expansion in urban developments and the rising growth of the hospitality industry are projected to drive the demand for blankets. Homestays prioritize providing reliable and comfortable customer service, increasing blanket consumption. Increased investments in infrastructure development of hotels and other lodging services also uplift the demand for blankets. Another factor contributing to the increased demand for blankets is the expanding variety of designs and technological advancements in the textile industry. Innovations such as weighted blankets, marketed for their potential to reduce anxiety and improve sleep quality, have captured consumer interest. The availability of eco-friendly and sustainable options appeals to environmentally conscious buyers, broadening the market for blankets. Seasonal trends also influence blanket sales, with higher demand during colder months. Introducing lightweight, breathable fabrics has expanded their use beyond winter, making blankets a year-round product. Marketing strategies that emphasize the multi-functional use of blankets, such as for picnics, outdoor events, or decorative throws, have also increased their demand. Increasing trend of luxurious blankets, owing to rising demand for light-weight and soft blankets, is anticipated to boost the blanket market. It is associated with the rising urbanization, changing lifestyle, and increasing adoption of decorative blankets.
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Market Drivers • Growing Demand for Comfort and Wellness:The increasing awareness of the importance of comfort in daily life is driving the blanket market. Consumers are increasingly seeking high-quality blankets that offer warmth and coziness, especially in colder regions. The trend towards wellness and self-care has led to a surge in demand for blankets made from natural and hypoallergenic materials. As more people prioritize comfort for better sleep and relaxation, brands are innovating their product lines to meet this demand, thus propelling market growth. • Rise in Home Decor and Aesthetic Trends:The growing trend of home decoration and interior design is significantly influencing the blanket market. Blankets are no longer seen merely as functional items; they are increasingly considered essential home decor accessories that enhance the aesthetic appeal of living spaces. With consumers investing more in stylish, luxurious, and decorative blankets, manufacturers are focusing on unique designs, patterns, and colors to attract discerning buyers, further driving market expansion. Market Challenges • Competition from Alternative Bedding Products:The global blanket market faces stiff competition from alternative bedding products, such as quilts, comforters, and throws. These alternatives often offer similar benefits regarding warmth and comfort, making it challenging for blanket manufacturers to differentiate their products. The emergence of multifunctional bedding solutions that combine features of blankets and other products can divert consumer interest, requiring blanket manufacturers to innovate continuously to retain market share. • Fluctuating Raw Material Prices:The blanket market is susceptible to fluctuations in the prices of raw materials like cotton, wool, and synthetic fibers. Price volatility can affect production costs and profit margins, leading to increased prices for consumers. Manufacturers must navigate these challenges while maintaining quality and affordability. Fluctuations in availability due to supply chain disruptions, environmental regulations, and geopolitical tensions can further complicate sourcing efforts, impacting overall market stability. Market Trends • Sustainability and Eco-Friendly Products: Sustainability is a significant trend reshaping the global blanket market. As consumers become more environmentally conscious, they increasingly prefer products made from organic, recycled, and biodegradable materials. Brands are responding by introducing eco-friendly blankets that reduce carbon footprints and promote ethical manufacturing practices. This shift not only appeals to environmentally aware consumers but also positions brands as responsible and innovative players in the market, fostering customer loyalty and attracting a broader audience. • Technological Innovations in Fabrics: The incorporation of advanced technologies in fabric production is transforming the blanket market. Innovations such as temperature-regulating fabrics, moisture-wicking properties, and anti-microbial treatments are enhancing the functionality of blankets, making them more appealing to consumers. Smart blankets equipped with features like built-in heating elements or integrated sleep-tracking technologies are gaining popularity, catering to the growing demand for high-tech home products.
Blanket Segmentation
| By Product Type | Mink | |
| Fleece | ||
| Wool | ||
| Cotton | ||
| Polyester | ||
| Others | ||
| By Application | Residential/Household | |
| Commercial | ||
| By Distribution Channel | Offline | |
| Online | ||
Based on the report, the product is segmented into mink, fleece, wool, cotton, polyester, others. Mink blankets are favored for their luxurious feel and warmth, often appealing to consumers seeking high-end comfort. These blankets are typically made from synthetic fibers that mimic the softness of mink fur, making them both affordable and easy to maintain. Fleece blankets are popular for their lightweight and insulating properties. Made from polyester, fleece is known for its softness and durability, making it ideal for casual use in households and outdoor settings. The fabric's ability to retain heat while remaining breathable enhances its appeal among consumers. Wool blankets are valued for their natural insulating properties, moisture-wicking abilities, and durability. Wool is a renewable resource, which aligns with the growing consumer preference for sustainable products. These blankets are often used in colder climates due to their warmth and comfort. Cotton blankets offer breathability and softness, making them suitable for year-round use. They are hypoallergenic and easy to wash, appealing to families and individuals with sensitive skin. Cotton's versatility allows it to be woven into various styles, from lightweight summer throws to heavier winter blankets. Polyester blankets, including those made from recycled materials, are gaining traction due to their affordability and ease of care. Polyester’s resistance to wrinkling and fading makes it a practical choice for many consumers. In addition to these primary materials, other options may include blends or specialty fabrics like bamboo or silk, catering to niche markets focused on luxury or eco-friendliness. The ongoing innovation in textile technology continues to shape the blanket market, enhancing comfort, sustainability, and functionality across all material types. Based on the report, the Application is segmented into residential/household, commercial. In the residential segment, blankets are essential household items that cater to various needs, including warmth, comfort, and decorative purposes. The increasing trend of home improvement and the desire for cozy living spaces have led to a surge in demand for high-quality blankets. Consumers are increasingly opting for luxurious materials and innovative designs that enhance their home aesthetics while providing comfort. The rise of e-commerce has also facilitated access to a broader range of products, allowing consumers to explore various styles, materials, and functionalities from the comfort of their homes. The commercial segment encompasses applications in industries such as hospitality, healthcare, and travel. Hotels and resorts prioritize comfort to enhance guest experiences, leading to significant investments in premium blanket offerings. The growing tourism industry further propels this demand as accommodations strive to provide high-quality bedding to attract and retain customers. In healthcare settings, blankets are vital for patient care in hospitals and nursing homes, where warmth and hygiene are paramount. The aging population and rising chronic health issues contribute to increased blanket usage in these facilities. Based on the report, the distribution channel is segmented into offline, online. Online distribution channels have seen significant growth due to the increasing popularity of e-commerce platforms. The convenience of shopping from home allows consumers to browse a wide variety of blankets, compare prices, and read reviews before making a purchase. Major platforms like Amazon and specialized home goods websites provide extensive selections, catering to diverse consumer preferences, from budget-friendly options to premium brands. The rise of digital marketing and social media influencers has also played a crucial role in promoting various blanket styles, further driving online sales. The ease of home delivery enhances the appeal of online shopping, making it a preferred choice for many consumers. Offline distribution channels, including hypermarkets, supermarkets, and specialty stores, continue to hold a significant share of the market. These venues offer consumers the opportunity to physically inspect products, touch different materials, and assess quality before purchase. The tactile experience is particularly important for items like blankets, where comfort and texture are key considerations. Offline retailers often provide personalized customer service, allowing for immediate assistance with inquiries or issues related to returns and exchanges. This face-to-face interaction fosters trust and satisfaction among consumers, making offline shopping an enduringly popular option despite the rise of online retail.
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Blanket Market Regional Insights
Asia Pacific is dominating the global blanket market primarily due to its large population and rapidly growing middle class, which significantly enhances consumer purchasing power and demand for home comfort products. The region's extensive population base, particularly in countries like China and India, creates a substantial market for blankets as more consumers seek quality bedding options to enhance their living conditions. As economic growth continues, disposable incomes are rising, allowing consumers to invest in home comforts that were previously considered luxuries. This shift in purchasing behavior is reflected in the increasing demand for various types of blankets, including electric and luxury options. Furthermore, the Asia Pacific region boasts strong manufacturing capabilities, enabling companies to produce blankets at competitive prices while meeting the diverse preferences of consumers. This not only positions Asia Pacific as a significant exporter but also strengthens its status as a major consumer market. Urbanization trends are influencing lifestyle changes, with urban households showing a greater inclination towards comfort and quality in their home textiles. The combination of these factors economic growth, rising disposable incomes, and robust manufacturing creates a fertile environment for the blanket market to thrive in Asia Pacific.
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Key Development
• In April 2024, Boll & Branch announced the launch of Origin Track, a digital platform that enables customers to trace the entire production journey of their bedding from the initial cotton seed to the final product. Customers can access comprehensive details about the origins and craftsmanship behind their purchase by entering a unique lot number from their product tag on the Boll & Branch website. • In April 2023, Faribault Mill announced the launch of the new collection of National Parks blankets, marking a unique addition to their product line. This initiative features a variety of blankets inspired by iconic national parks, celebrating the natural beauty and heritage of these landmarks. The collection aims to appeal to outdoor enthusiasts and park supporters, offering them a way to connect with and commemorate their favorite parks through high-quality, American-made products.
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