Blanket Market to Hit USD 23.34 Bn at a growth rate of 6.45 percent- Says Stellar Market Research

Blanket Market to Hit USD 23.34 Bn at a growth rate of 6.45 percent- Says Stellar Market Research
Blanket Market
Blanket Market size of the North American region is expected to dominate the market during the forecast period. The Blanket Market is segmented into Material Type, Application, and Distribution Channel for a better understanding of the market structure.

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.

Get a free sample copy to fully comprehend the format of the report, which includes the table of contents and summary:

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

  • Wool
  • Polyester
  • Cotton

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

  • Household
  • Commercial

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

  • Online
  • Offline

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:

  • Pendleton Woolen Mills, Inc.
  • Biddeford Blankets, LLC
  • Kanata Blanket Company
  • Boll & Branch LLC
  • American Blanket Company
  • Faribault Woolen Mills, Inc.
  • Beurer GmbH
  • Woolrich, Inc.
  • Cuddledown, Inc.
  • Morphy Richards Ltd.
  • Amritsar Swadeshi Textile Corporation Pvt. Ltd.
  • Hudson’s Bay Company
  • Shanghai Easun Group
  • Medline Industries, Inc.
  • Chellco Industries Limited
  • Biddeford Blankets, LLC
  • Youngman Woollen Mills Private Limite
  • Silentnight Group Limited
  • Barker Textiles UAB
  • XXX Inc

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Key questions answered in the Blanket Market report are:

  • Which market segment held the largest share of the global Blanket market in 2023?
  • What are the global trends in the Blanket Market?
  • What are the upcoming industry applications and trends for the Blanket Market?
  • What are the investment opportunities in the childcare sector?
  • What growth strategies are the players considering to increase their presence in the Blanket Market?
  • Who are the leading companies and what are their portfolios in the Blanket Market?
  • What are the major challenges that the Blanket Market could face in the future?
  • Which region held the largest Blanket Market Share in 2022?
  • How is the regulatory environment shaping the Blanket market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by Different Segments | 2023−2030
  • Blanket Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Blanket Market Segmentation – A Detailed Analysis by Application
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Stellar Market Research is leading Consumer & Retail research firm, has also published the following reports:

Child Care Market The market is expected to reach USD 975.70 Billion in 2030 and the total Child Care revenue is expected to grow at a CAGR of 6.01% from 2024 to 2030. Childcare market dynamics are shaped by factors such as parental employment rates, government policies, and societal trends. Increasing demand for quality childcare services, driven by working parents, influences market growth. Regulatory requirements, affordability, and evolving preferences for early childhood education also impact the sector’s dynamics.

Bathroom Accessories Market – The Market size is expected to reach USD 92056.56 Billion in 2030 at a CAGR of 9.7% from 2024 to 2030. Bathroom accessories market dynamics are influenced by trends in home renovation, interior design, and consumer preferences for convenience and aesthetics. Innovations in materials, technology, and sustainability drive product development. Changing lifestyles and demographic shifts also impact the demand for functional and stylish bathroom accessories.

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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