Blanket Market Expansion 2024-2033: Growth Drivers and Dynamics

The blanket global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Blanket Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The blanket market size has grown steadily in recent years. It will grow from $7.77 billion in 2023 to $8.14 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to increasing demand for home comfort products, rise in popularity of weighted blankets, rise in online retail sales, rise in demand for luxury and premium blankets, and growth of e-commerce.

The blanket market size is expected to see strong growth in the next few years. It will grow to $10.01 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to growing awareness of eco-friendly products, increasing global demand for decorative blankets, rising shift towards comfort, increasing demand for personalized products, and increasing urbanization. Major trends in the forecast period include technological advancements, integration of smart technology, sustainable materials, sustainable packaging, and travel-friendly blankets.

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Scope Of Blanket Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Blanket Market Overview

Market Drivers –

The expansion of the hospitality industry is expected to propel the growth of the blanket market going forward. The hospitality industry encompasses various services and businesses that provide travelers and guests with lodging, food and beverage, recreation, and entertainment. The expansion of the hospitality industry is due to a surge in global travel, rising disposable incomes, and a growing demand for diverse and unique accommodations. Blankets are used in the hotel rooms to offer comfort and warmth, enhance guest satisfaction, and contribute to a cozy and inviting atmosphere. For instance, in January 2023, according to the American Hotel and Lodging Association, a US-based hotel association, Hotel occupancy rates experienced a significant increase, rising to 62.7%, which is a 9% improvement from 2021. Further, the projections estimate this figure will climb to 63.8% in 2023. Therefore, the expansion of the hospitality industry is driving the blanket market.

Market Trends –

Major companies operating in the blanket market are focused on developing innovative products, such as smart electric blankets, to enhance consumers’ comfort, convenience, and energy efficiency. Smart electric blankets are advanced bedding products with technology that allows for precise temperature control, programmable settings, and integration with smart home systems to enhance comfort and energy efficiency. For instance, in October 2023, Xiaomi Inc., a China-based consumer electronics company, launched the Mijia Smart Electric Blanket, which offers advanced features and smart home integration. The blanket provides precise temperature control through a smartphone app, allowing users to customize their comfort settings remotely. It also includes a quick-heating function, ensuring rapid warmth on demand.

The blanket market covered in this report is segmented –

1) By Product Type: Electric Blanket, Regular Blanket
2) By Material Type: Wool, Cotton, Polyester, Other Material Types
3) By Sales Channel: Hyper markets Or Super markets, Specialty Stores, Multi Brand Stores, Independent Stores Retailers, Online Retailers, Other Sale Channels
4) By End User: Commercial, Residential

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Regional Insights –

North America was the largest region in the blanket market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blanket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the blanket market are Walmart Inc., Medline Industries Inc., Ralph Lauren Home, Hudson’s Bay Company, Pottery Barn, Eddie Bauer LLC, Nautica Home, Beurer GmbH, Pendleton Woolen Mills, Silentnight Group Limited, WestPoint Home, Jarden Corporation, BUDDEMEYER S/A, Boll & Branch Co., Mellanni Fine Linens, American Blanket Company, URBANARA GmbH, Qbedding.com, Cuddledown Inc., Faribault Woolen Mill Co., Morphy Richards Ltd., Biddeford Blankets LLC, Chellco Industries Limited, Kanata Blanket Company

Table of Contents
1. Executive Summary
2. Blanket Market characterstics
3. Blanket Market Trends And Strategies
4. Blanket Market – Macro Economic Scenario
5. Global Blanket Market Size And Growth
…..

32. Global Blanket Market Competitive Benchmarking
33. Global Blanket Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Blanket Market
35. Blanket Market Future Outlook and Potential Analysis
36. Appendix

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