Blanket Market Size, Share & Trends Analysis Report By Product (Cotton, Polyester), By Application (Household, Commercial), By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025

Report Overview

的global blanket market size was valued at USD 17.0 billion in 2018. Growing application of blankets in the commercial sectors including travel and hospitality, military and defense, and charity is expected to have a positive impact on the market growth. Furthermore, the market has seen a boom as a result of innovation and ease of product availability in affordable price ranges.

的industry is expected to witness further growth as a result of the increasing demand for luxury and comfort among the working-class population in developing countries such as India and China. The pattern, material, and color of blankets play an essential role in influencing the buying behavior of consumers. Considering the change in the buying patterns, a preference for bold and dramatic colors has been observed among consumers. Blanket manufacturing companies have been incorporating these preferable colors and patterns in their new products.

New product developments such as pastel-colored cotton blankets are expected to remain a recent trend. Preference for color and pattern is mostly based on the requirements of products with excellent stain resistance and machine washable properties. Additionally, demand for exotic colors and patterns related to flora and fauna has been observed in countries including India, Vietnam, Myanmar, and Sri Lanka.

Over the past few years, fluctuating weather patterns at a global level have played a crucial role in promoting the utility of electric blankets. The ability of the blanket to warm itself offers temperature control benefits and over-the-top comfort. Growing consumer awareness, coupled with the frequent launch of the new blankets with high quality, is expected to expand the industry size. In addition, an increase in private consumption expenditure is likely to boost the consumption of luxury and decorative products, especially in emerging countries including China and India.

Product Insights

Cotton accounted for a share of more than 25.0% in 2018. The durability and softness associated with these products are expected to promote the demand in the near future. These products are made by spinning cotton yarns available in a wide range of sizes and weights to catering to the different needs of domestic and international markets. A strong foothold of the cotton farming base in the U.S., Brazil, Pakistan, India, China, Australia, Turkey, and Uzbekistan are expected to drive the industry participants to establish their strategic business units in close proximity.

Polyester is expected to expand at the fastest CAGR of 5.0% from 2019 to 2025. This growth is attributed owing to easy availability and high affordability. The price of the product is much lower than mink, cotton, and fleece. In addition, its durability is longer than most of its counterparts. In recent times, it has been replacing cotton, fleece, and mink. In developed countries of Europe, airlines and railways have been preferring it over fleece owing to the strength of polyester, which can survive frequent washing. Fitful replacement of blankets for passengers helps the airlines to bring their operational costs down. Similarly, buyers across the hospitality sector have been keenly replacing their mink and fleece products with polyester blankets.

Application Insights

Households accounted for a share of 50.7% in 2018 owing to the increasing demand for blankets suitable for different seasons. Different kinds of blankets are required to combat different weather types. In India, from the month of March to July, a very light cotton blanket is preferable in contrast to the demand for thick polyester blankets from November to February. Thus, changing weather and climate have been promoting the demand for various different types of blankets for residential needs. In addition, a new polyester blanket known as the AC blanket, made for sleeping in air-conditioned rooms, has been driving the market.

的commercial segment is expected to register the fastest CAGR of 4.7% from 2019 to 2025. A growing number of airlines and railway services across the globe has been driving the market. International air services and air-conditioned railways services offer blankets to their passengers during the journey for a comfortable and luxurious journey. Similarly, the hotel industry offers blankets to its guests for warm, cozy, and relaxed stayovers. Defense and military have been the major consumers of blankets. Soldiers are provided with these on a periodical basis for uniformity and allowance. In addition, blankets are considered to be the most distributed products for charity purposes.

Distribution Channel Insights

Hypermarkets and supermarkets accounted for the largest market share in 2018. This growth is attributed to the large assortment of a variety of blankets including quilts, duvets, and comforters in one place for the convenience of the buyers. Furthermore, they offer huge discounts during the off-seasons and stock clearance sales. Ease of access and instant verification are the key factors that play a supporting role in hypermarket sales.

Online sales are expected to witness the fastest growth from 2019 to 2025. This growth is attributed to the growing penetration of the internet, along with sifting reliance on e-commerce forums as a key selling medium among millennials. Moreover, e-retailing offers easy access to a number of sellers and manufacturers, thereby making price comparison and negotiation much easier. A large number of sellers have been opting for e-retailing over the offline mode of selling. Sellers with established shops and stores have also been going online to enhance their customer base.

Regional Insights

North America was the largest market in the year 2018, accounting for more than 30.0% share of the total revenue. Factors supporting the sales in the region include climatic conditions, a large number of hotels, a gigantic defense force, and charity done by both individuals as well as corporate. The weather conditions in North America vary dramatically.

的average winter temperature ranges from a high 67.4-degree Fahrenheit in Hawaii to a low of 2.6-degree Fahrenheit in Alaska. For the entire U.S., the seasonal average temperature is 33.2-degree Fahrenheit, which is an extreme climate and acts as a boost for the market in the U.S. Similarly, in Canada, winter is freezing cold. Eastern Canada including Toronto and Montreal has short and fierce winter showcasing subzero temperatures from December to February.

Asia Pacific is expected to expand at the fastest CAGR of 5.2% from 2019 to 2025. Fluctuation in climate conditions in key markets, along with a strong hold of middle-income age groups, is expected to promote the utility of blankets. Large armed forces of China, India, and Pakistan are another factor influencing the market growth. China alone has the world’s largest military force and constitutes the second-largest military budget and a blanket is one of the allowances that every member of the armed force receives.

Key Companies & Market Share Insights

Some of the key players are American Blanket Company, Amritsar Swadeshi Textile Corporation Pvt. Ltd., Chellco Industries Limited, Geetanjali Woollens Pvt. Ltd., Jindal Woollen Industries Ltd., Odessey Products, Prakash Woollen & Synthetic Mills Limited, Qbedding.com, and Youngman Woollen Mills Private Limited.

的industry is fragmented as a result of the high concentration of local manufacturing firms in developing economies including China and India. These countries are not only abundant in cotton harvesting but also have been flourishing in mink farming. Moreover, the manufacturers have been experimenting with polyester and innovating a variety of products to cater to different climatic conditions and price ranges.

Blanket Market Report Scope

Report Attribute	Details
Market size value in 2020	USD 20.26 billion
Revenue forecast in 2025	USD 23.26 billion
Growth Rate	CAGR of 4.5% from 2019 to 2025
Base year for estimation	2018
Historical data	2015 - 2017
Forecast period	2019 - 2025
Quantitative units	Revenue in USD million/billion and CAGR from 2019 to 2025
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product, application, distribution channel, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
Country scope	U.S.; U.K.; Germany; France; China; India; Japan
Key companies profiled	American Blanket Company; Amritsar Swadeshi Textile Corporation Pvt. Ltd.; Chellco Industries Limited; JPrakash Woollen & Synthetic Mills Limited; Qbedding.com; Youngman Woollen Mills Private Limited
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global blanket market report on the basis of product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Mink

  • Fleece

  • Cotton

  • Polyester

  • Others

• Application Outlook (Revenue, USD Billion, 2015 - 2025)

  • Household

  • Commercial

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Hypermarkets & Supermarkets

  • Convenience Stores

  • Online

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • 的U.S.

  • Europe

    • Germany

    • 的U.K.

    • France

  • Asia Pacific

    • India

    • China

    • Japan

  • Central & South America

  • Middle East & Africa (MEA)