The global blanket market is anticipated to reach a valuation of USD 8,732.1 Million in 2024, driven by increasing growth of hospitality industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.2% between 2024 and 2034, and reaching a total valuation of approximately USD 13,176.4 Million by 2034.
Weighted blankets, which are filled with materials like glass beads or plastic pellets to provide gentle pressure, have gained popularity for their potential therapeutic benefits in promoting relaxation and reducing anxiety and stress. The growing interest in weighted blankets presents an opportunity for manufacturers to expand their product offerings and target niche segments seeking alternative wellness solutions.
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Embracing digital marketing strategies, including social media advertising, influencer partnerships, and online marketplaces, allows blanket manufacturers to reach a wider audience and engage with consumers directly. Leveraging data analytics and consumer insights enables personalized marketing campaigns and targeted promotional efforts to drive sales and brand loyalty.
Blanket manufacturers can explore opportunities to expand their market presence beyond domestic borders. Engaging in international trade agreements, establishing distribution partnerships, and adapting products to meet the preferences of diverse cultural markets can facilitate market entry and growth on a global scale.
Continued investments in research and development enable blanket manufacturers to innovate and introduce new products that address evolving consumer needs and market trends. Research and development efforts may focus on enhancing product performance, exploring novel materials and manufacturing techniques, and creating differentiated offerings that stand out in the competitive landscape.
Key Takeaways from the Market Study
- Global blanket market was valued at US$ 8,345.9 Million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 4.6%.
- The market in Japan is expected to expand at a CAGR of 4.3% through 2034.
- By product type, the electric blanket segment to account for a share of 15.5% in 2024.
- The market in Germany is expected to expand at a CAGR of 5.1% through 2034.
- In terms of material type, the wool segment to account for a market share of 47.9% in 2024.
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“The integration of smart textiles and technology into blankets presents opportunities for innovation and product differentiation. Smart blankets equipped with sensors, heating elements, or embedded electronics can offer features such as temperature control, sleep tracking, and connectivity with mobile devices, enhancing user experience and convenience,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the blanket market 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, and Morphy Richards Ltd., among others.
Company Portfolio
- Faribault Woolen Mill Co. produces a variety of wool blankets, throws, and accessories, renowned for their durability, warmth, and classic designs.
- Biddeford Blankets LLC specializes in electric blankets and heated throws, providing warmth and comfort during colder months.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global blanket market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the blanket market, the market is segmented on the basis of product type (electric blanket, regular blanket), material type (wool, cotton, polyester, others), end user (commercial, residential), and sales channel (hypermarkets/supermarkets, specialty stores, multi brand stores, independent stores retailers, online retailers, others sales channel), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
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About the Consumer Products Division at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
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