Blanket Market Size & Share, Sector / Industry Report & Analysis, 2019-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Blanket Market


The 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.
The industry is expected to witness further growth as a result of increasing demand for luxury and comfort among the working-class population in the 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, 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 for 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.

Market Segmentation, Outlook & Viewpoint: Global Blanket Market


Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

Mink

Fleece

Cotton

Polyester

Others


Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

Household

Commercial


Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

Hypermarkets & Supermarkets

Convenience Stores

Online


Key Players, Recent Developments & Regional Insights: Global Blanket Market


Cotton accounted for a share of more than 25.0% in 2018. Durability and softness associated with these products is 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 cater to different needs of domestic and international markets. Strong foothold of cotton farming base in U.S., Brazil, Pakistan, India, China, Australia, Turkey, and Uzbekistan is 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 cost down. Similarly, buyers across the hospitality sector have been keenly replacing their mink and fleece products with polyester blankets.
Application Insights
Household accounted for a share of 50.7% in 2018 owing to 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 has been promoting the demand for various different types of blankets for residential needs. In addition, a new polyester blanket known as AC blanket, made for sleeping in air-conditioned rooms, has been driving the market.
The commercial segment is expected to register the fastest CAGR of 4.7% from 2019 to 2025. 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 one of 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 purpose.
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 sale. Ease of access and instant verification are the key factors that play a supporting role to hypermarket sales.
 
Online sales are expected to witness the fastest growth from 2019 to 2025. This growth is attributed to growing penetration of internet, along with sifting reliance towards e-commerce forums as a key selling medium among the millennials. Moreover, e-retailing offers an easy access to a number of sellers and manufacturers, thereby making price comparison and negotiation much easier. The large number of sellers have been opting e-retailing over 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, large number of hotels, gigantic defense force, and charity done by both individuals as well as corporate. The weather conditions in North America varies dramatically.
The average winter temperature ranges from 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 U.S. Similarly, in Canada, winter is freezing cold. The eastern Canada including Toronto and Montreal has short and fierce winter showcasing subzero temperature 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 strong hold of middle-income age groups, is expected to promote the utility of blankets. Large armed forces of China, India, and Pakistan is another factor influencing the market growth. China alone has the world’s largest military force and constitutes the second largest military budget and blanket is one of the allowances that every member of the armed force receives.
Blanket 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.
The industry is fragmented as a result of 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.

Key Insights Covered: Global Blanket Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Blanket industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Blanket industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Blanket industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Blanket industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Blanket industry.

Research Methodology: Global Blanket Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other