Pune, 9, May 2024: Stellar Market Research, a Consumer & Retail business consultancy and research firm has published a report on the “Blanket Market”. The total market opportunity for the Blanket Market was USD 15.07 Bn in 2023 and is expected to grow at 6.45 percent CAGR through the forecast period by reaching nearly USD 23.34 Bn.
Blanket Market Report Scope and Research Methodology
Market Size in 2023 USD 15.07 Bn.
Market Size in 2030 USD 23.34 Bn.
CAGR 6.45% (2023-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 256
No. of Tables 130
No. of Charts and Figures 110
Segment Covered Material Type, Application, and Distribution Channel
Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage Market Share, Size & Forecast by Revenue| 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
The report provides a comprehensive analysis of the global blanket market, focusing on key segments, trends, and growth drivers. It encompasses market segmentation by material type and distribution channels across major regions. Through primary interviews and secondary research, data collection is conducted, followed by quantitative and qualitative analysis. Statistical techniques and forecasting models are employed to estimate market size and growth potential, ensuring reliable insights. The competitive landscape is evaluated by profiling major players and their strategies. Ultimately, the report offers actionable insights for stakeholders, aiding in informed decision-making and strategic planning within the dynamic blanket industry landscape.
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Blanket Market Overview
The SMR report examines the evolving blanket industry, examining consumer preferences, technological advancements, and economic shifts driving its evolution. Key market drivers include rising consumer demand for comfort, technological innovations, growing disposable incomes, and heightened awareness of health benefits. These insights offer a comprehensive understanding of the blanket market dynamics, guiding stakeholders through its trajectory. Increasing awareness of sleep quality boosts demand for high-quality blankets with therapeutic benefits, while technological advancements enhance comfort. Rising disposable incomes prioritize premium blankets, and e-commerce expansion widens market reach. Sustainability trends drive demand for eco-friendly blankets, fostering investment in green manufacturing. Research and development fuel product innovation to meet evolving consumer preferences, alongside market expansion strategies and supply chain optimization efforts. Brand-building initiatives focus on quality, sustainability, and technological features to establish consumer trust and enhance market share.
Blanket Market Dynamics
The blanket market sees a surge in demand for sustainable materials like organic cotton, bamboo, and recycled fibers, driven by eco-conscious consumers. Heightened environmental awareness prompts the shift away from conventional textiles, advocating for transparency and ethical production practices. Manufacturers innovate with sustainable options, aligning with consumer values and fostering brand differentiation.
Blanket Market Regional Insights
The North American blanket market increases globally thanks to the favorable climates and high disposable incomes, driving year-round demand. Evolving consumer preferences towards sustainable materials and innovative features shape market dynamics. Online sales surge, projected to surpass 30% of the total US market by 2030. Weighted blankets witness rising demand, with the US market expanding by over 40% from 2018 to 2023. Sustained growth is expected, led by innovative technologies and materials. Robust competition fuels industry dynamism, focus on continuous advancements and market differentiation. North America’s blanket market remains dynamic, driven by consumer-driven innovation amidst competitive pressures.
Blanket Market Segmentation analysis
By Material type
Based on Material Type, Cotton blankets dominate the global market, reflecting consumer preference for their breathability, affordability, and natural feel. However, the surge in cotton prices since January 2024, with a notable increase of over 15% globally and over 75% domestically, poses challenges for blanket manufacturers. The sudden escalation, particularly in the last 15 days alone, triggers concerns across the cotton industry’s value chain. Rising cotton prices directly impact production costs, potentially prompting price adjustments that could deter consumers and squeeze profit margins in the blanket market. This highlights the vulnerability of cotton-based blanket production to raw material cost fluctuations.
By Application
Based on the Application, The household segment includes blankets used for personal comfort and warmth within residential settings. Consumers purchase blankets for bedrooms, living rooms, and other living spaces to enhance comfort and relaxation. They seek blankets that offer softness, warmth, and style to complement their home decor. Factors influencing purchasing decisions include material quality, design aesthetics, and suitability for different seasons.
By Distribution Channel
Based on the Distribution Channel, The online distribution channel facilitates blanket sales through e-commerce platforms, allowing consumers to conveniently browse and purchase from a wide range of options via computers or mobile devices. Online retailers offer diverse selections, customer reviews, and global accessibility, catering to tech-savvy shoppers seeking convenience. Offline channels, comprising brick-and-mortar stores like department stores and specialty bedding shops, allow consumers to physically inspect blankets, feel textures, and receive personalized assistance. The traditional approach appeals to shoppers valuing tactile experiences and preferring in-person interactions. Offline retailers prioritize expert guidance and immediate product availability, enhancing the shopping experience for those seeking hands-on evaluation before purchase.
Blanket Key Competitors include:
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Key questions answered in the Blanket Market report are:
Key Offerings:
Stellar Market Research is leading Consumer & Retail research firm, has also published the following reports:
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About Stellar Market Research:
Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals.
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