Blanket Market To Reach US$ 9.9 Bn Amid Growing Preference For Premium Bedding Products: Future Market Insights

Tuesday, 12 April 2022, 7:42 pm
Press Release: Future Market Insights

A recent survey conducted by Future Market Insights (FMI) uncovers prevailing trends and opportunities accelerating the growth in the blanket market. It provides insights into key factors driving demand across various segments in terms of product type, material type, and end user. 

As per the latest study by FMI, the global blanket market is poised to surpass US$ 7.9 Bn in 2022. Increased spending on comfort and relaxation, coupled with improved standard of living are facilitating the growth in the market. On account of this, the blanket market is estimated to reach US$ 9.9 Bn by 2027. 

Commercial infrastructure such as resorts, hotels, inns, motels, and others are extensively looking for premium bedding products such as blankets to enhance the bedroom aesthetics and add luxurious appeal to provide more comfort. Driven by this, sales of blankets are projected to rise at 5% CAGR during the forecast period from 2022 to 2027.

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Growing inclination towards adopting blankets made using organic materials is being witnessed, owing to rising awareness regarding adverse effects of conventional bedding products made of synthetic dyes and toxic chemicals. 

Citing this trend, numerous market players are focusing on launching blankets made using natural materials. For instance, Bare Home, announced introducing Sherpa plush blankets made using hypoallergenic, non-toxic, and skin-friendly premium materials certified by OEKO-TEX. 

A multiplicity of such product launches is anticipated to propel the demand for blankets in the coming years. 

Based on material type, cotton is estimated to remain the most preferred material in the market, exhibiting growth at 4% CAGR through 2027. Lightweight, easy to carry, soft, and washable attributes of cotton are the factors favoring the growth in the segment. 

“Key manufacturers are emphasizing of launching novel waterproof electric blankets with innovative automatic heat adjusting, pre-warming, and mobile phone charging features. This is expected to bode well for the growth in the market,” says a FMI analyst.

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Key Takeaways from Blankets Market Study

• The U.S. is projected to account for the maximum share in the North America market, growing at a CAGR of 4% through 2027. 
• The U.K. blanket market is estimated to register a swift growth, expanding at over 5% CAGR during the assessment period.
• France is forecast to emerge as a highly lucrative market in Europe, spurring sales at around 3% CAGR between 2022 and 2027
• East Asia market is expected to expand at 4% CAGR over the forecast period, owing to the increasing demand for premium bedding products in Japan and China. 
• On the basis of product type, the electric blanket segment is forecast to register swift growth in the market, accounting for more than 14% of the sales by 2027.

Key Drivers

• Increasing demand for blankets made of polyester, owing to its low cost, lightweight, portable, and easy-to-clean attributes is accelerating the sales across the polyester segment. 
• Surging demand for hypoallergenic, warm, wrinkle-free, soft, and chemical-free bedding products in countries with low temperature such as Canada, Russia, and France are driving the growth in the market.

Key Restraints

• High cost of electric blankets and risk of getting electrified during sleep are factors hindering the sales across the electric blankets segment. 
• Heavyweight, difficulty to wash & dry, and extravagant cost of wool blankets are hampering the demand across the wool segment.

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Competitive Landscape

As per FMI, leading players in the blanket market are expected to account for around 15% to 20% of the total revenue share by 2022. 

Key companies are focusing on developing new product lines with innovative technologies to gain competitive edge in the market.  Moreover, some of the manufacturers are aiming at collaborations, agreements, mergers, and acquisitions with other players to promote and strengthen their footprint. 

For instance,  

• In November 2021, Pendleton Woolen Mills announced entering into a collaboration with an American brand of clothing, Original Lee to launch limited edition capsule for men and women. The collection includes men’s and women’s jeans, jackets, shirts, along with a limited-edition woolen blanket made of exclusive Pendleton® stripe designs. This will assist the company to strengthen its portfolio of premium blankets. 
• In December 2021, Faribault Woolen Mill Co., a leading U.S.-based blanket manufacturer, announced becoming an official licensee for Olympic Team USA and launching a Team USA-branded blanket collection for the Paralympic and Olympic Games. This will assist the company to increase its customer base by promoting its brand in Olympics.  

Some of the key players operating in the market profiled by FMI are:

• Pendleton Woolen Mills
• Urbanara
• Faribault Woolen Mill Co.
• Biddeford Blankets LLC
• 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
• UAB Silkeborg
• Morphy Richards Ltd.
• Others

More Valuable Insights on Blanket Market

The latest report by FMI provides an in-depth analysis of the global blanket market, providing detailed insights into key factor driving the market through 2022 and beyond. The study also disclosed growth projections on in blanket market with detailed segmentation:

By Product Type:

• Electric Blanket
• Regular Blanket

 By Material Type:

• Wool
• Cotton
• Polyester
• Others

By End-User:

• Residential
• Commercial

By Sales Channel:

• Wholesalers/ Distributors
• Hypermarkets/ Supermarkets
• Specialty Stores
• Multi-brand Stores
• Independent Small Retailers
• Online Retailers
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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Key Questions Covered in the Report

• The report offers insight into blanket market demand outlook for the forecast period 2022-2027
• The market study also highlights projected sales growth for blanket market between 2022 and 2027
• Blanket market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 
• Blanket market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others 

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Future Market Insights

Future Market Insights is the premier provider of market intelligence and consulting services

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.

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