The blanket market is projected to be worth USD 8,732.1 million in 2024. The market is anticipated to reach USD 13,176.4 million by 2034. The market is further expected to surge at a CAGR of 4.2% during the forecast period 2024 to 2034.
| Attributes | Key Insights |
|---|---|
| Blanket Market Estimated Size in 2024 | USD 8,732.1 million |
| Projected Market Value in 2034 | USD 13,176.4 million |
| Value-based CAGR from 2024 to 2034 | 4.2% |
Consumers are increasingly seeking products that reflect their individual preferences and lifestyles. Blanket manufacturers are responding to this trend by offering customizable and personalized options, such as blankets with custom designs, colors, and sizes.
The scope for blanket rose at a 4.6% CAGR between 2019 and 2023. The global market is anticipated to grow at a moderate CAGR of 4.2% over the forecast period 2024 to 2034.
Economic expansion and rising disposable incomes often correlate with increased consumer spending on home goods and furnishings, including blankets. Consumers became more willing to invest in higher quality blankets and bedding products, during the historical period, as economies grew and household incomes rose.
Technological innovations in materials science, manufacturing processes, and product design had also driven the growth in the blanket market. For instance, the development of new fabrics with enhanced moisture wicking properties, temperature regulation, and antimicrobial features appealed to consumers seeking high performance bedding solutions.
Blanket manufacturers are anticipated to explore opportunities to expand their presence in international markets during the forecast period. Emerging economies with rising middle class populations present untapped potential for growth in the market.
The proliferation of e-commerce platforms and online retail channels has transformed the way consumers shop for home goods, including blankets. Blanket manufacturers that establish a strong online presence and leverage digital marketing strategies may be better positioned to reach a wider audience and drive sales growth.
The demand for home textiles, including blankets, is expected to rise due to factors such as increasing disposable income, changing lifestyles, and the desire for more comfortable living spaces.
Fluctuations in the prices of raw materials, such as cotton, wool, synthetic fibers, and dyes, can impact production costs for blanket manufacturers. Sudden increases in raw material prices may lead to higher production costs, which can either reduce profit margins for manufacturers or result in higher prices for consumers, potentially dampening demand.
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by China and the United States. The countries are expected to lead the market through 2034.
| Countries | Forecast CAGRs from 2024 to 2034 |
|---|---|
| The United States | 5.4% |
| Germany | 5.1% |
| Japan | 4.3% |
| China | 6.9% |
| Australia | 4.0% |
The blanket market in the United States expected to expand at a CAGR of 5.4% through 2034. The country has a large and diverse population with a strong emphasis on home comfort and aesthetics. The demand for blankets as essential home textiles is expected to increase, as homeowners and renters seek to create cozy and inviting living spaces.
The United States experiences diverse climate conditions across different regions, including cold winters in northern states and mild to warm climates in southern regions.
The need for blankets varies accordingly, with consumers in colder climates requiring heavier and warmer blankets while those in warmer regions may prefer lightweight and breathable options. The diversity in weather patterns drives demand for a wide range of blanket types and materials.
The blanket market in Germany is anticipated to expand at a CAGR of 5.1% through 2034. The concept of hygge, which emphasizes coziness, comfort, and well being in the home, resonates with German consumers.
Blankets play a central role in creating a cozy and inviting atmosphere, particularly during the colder months. The demand for blankets as essential home textiles is expected to increase, as Germans prioritize home comfort and relaxation.
Germans place a strong emphasis on quality and craftsmanship when purchasing home goods and textiles. There is a preference for high quality materials and durable construction in blankets, with consumers willing to invest in premium products that offer superior comfort and longevity.
Blanket trends in China are taking a turn for the better. A 6.9% CAGR is forecast for the country from 2024 to 2034. In major Chinese cities, rapid urbanization has led to the prevalence of compact living spaces, particularly in high rise apartment buildings. Consumers are seeking space saving and multifunctional home furnishings, including blankets, that offer warmth and comfort without taking up excessive space.
Chinese consumers value quality, durability, and longevity when purchasing home textiles and furnishings. There is a preference for blankets made from premium materials and manufactured to high standards of quality and craftsmanship. Manufacturers that offer high quality and durable blankets are likely to appeal to Chinese consumers seeking long lasting bedding solutions.
The blanket market in Japan is poised to expand at a CAGR of 4.3% through 2034. Japanese consumers value aesthetics and design when purchasing home furnishings, including blankets.
Manufacturers offer a wide variety of blankets in contemporary designs, fashionable patterns, and colors to appeal to the tastes of Japanese consumers and complement their home decor styles.
The growth of e-commerce platforms and digital retail channels has transformed the way Japanese consumers shop for bedding products, including blankets. Online shopping offers convenience, accessibility, and a vast selection of products, allowing consumers to explore and purchase blankets from the comfort of their homes. Manufacturers and retailers leverage digital marketing strategies to reach a broader audience and drive sales growth.
The blanket market in Australia is anticipated to expand at a CAGR of 4.0% through 2034. Australia is a popular tourist destination known for its diverse landscapes, natural beauty, and outdoor activities.
The tourism and hospitality industry drives demand for high quality bedding products, including blankets, in hotels, resorts, vacation rentals, and other accommodation facilities. The demand for durable and comfortable blankets for guest accommodations contributes to market growth.
Blankets are essential household items that undergo regular replacement and upgrading cycles. Consumers seek new blankets to replace old blankets, as they wear out or become outdated. The cyclical nature of blanket replacement and upgrading drives recurring sales and sustains market demand over time.
The below table highlights how electric blanket segment is projected to lead the market in terms of product type, and is expected to account for a share of 15.5% in 2024. Based on material type, the wool segment is expected to account for a share of 47.9% in 2024.
| Category | Market Share in 2024 |
|---|---|
| Electric Blanket | 15.5% |
| Wool | 47.9% |
Based on product type, the electric blanket segment is expected to continue dominating the blanket market. Consumers are increasingly seeking products that offer comfort and convenience, particularly during colder seasons.
Electric blankets provide warmth and coziness with the added benefit of adjustable heat settings, making them highly desirable for individuals looking to stay warm without excessive layers of bedding.
Electric blankets are perceived as a source of therapeutic warmth, particularly for individuals with conditions such as arthritis, muscle pain, or poor circulation. The ability to control and regulate heat levels in electric blankets can provide targeted relief to specific areas of the body, promoting relaxation and alleviating discomfort.
In terms of material type, the wool segment is expected to continue dominating the blanket market, attributed to several key factors. Wool blankets are renowned for their exceptional thermal insulation properties, providing warmth and comfort in colder climates.
Wool fibers trap air pockets, creating a natural barrier against cold air while allowing moisture to escape, keeping sleepers warm and dry throughout the night. The insulating properties of wool make it a popular choice for winter bedding.
Wool possesses inherent moisture wicking properties that help regulate body temperature and moisture levels during sleep. Wool fibers can absorb moisture vapor from the body and release it into the air, preventing overheating and maintaining a comfortable sleeping environment. The breathability of wool blankets enhances sleep quality by reducing the risk of night sweats and discomfort.
The competitive landscape of the blanket market is characterized by a diverse array of manufacturers, brands, and retailers competing to capture market share and meet the evolving needs and preferences of consumers.
The market encompasses a wide range of blankets, including various types such as electric blankets, fleece blankets, wool blankets, weighted blankets, and luxury blankets, catering to different consumer segments and usage scenarios.
Company Portfolio
| Attribute | Details |
|---|---|
| Estimated Market Size in 2024 | USD 8,732.1 million |
| Projected Market Valuation in 2034 | USD 13,176.4 million |
| Value-based CAGR 2024 to 2034 | 4.2% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | Value in USD million |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product Type, Material Type, End User, Sales Channel, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | 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. |
The blanket market is projected to reach a valuation of USD 8,732.1 Million in 2024.
The blanket industry is set to expand by a CAGR of 4.2% through 2034.
The blanket market is forecast to reach USD 13,176.4 Million by 2034.
China is expected to be the top performing market, exhibiting a CAGR of 6.9% through 2034.
Wool segment is preferred, and is expected to account for a shared of 47.9% in 2024.
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Blanket Market
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