Blanket Market

Blanket Market Outlook from 2024 to 2034

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%

Key Market Trends and Highlights

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.

• There is growing demand for consumer goods such as blankets, as disposable incomes rise in emerging markets. Manufacturers are increasingly focusing on expanding their presence in these markets to capitalize on the opportunities presented by growing consumer spending.
• Consumers are paying more attention to hygiene and cleanliness and the blanket manufacturers may capitalize on this trend by offering products that are easy to clean and maintain, as well as those with antimicrobial properties.
• Seasonal variations in demand for blankets can impact market dynamics. For instance, colder seasons typically see increased demand for heavier, warmer blankets, while lighter blankets may be preferred during warmer months. Manufacturers can capitalize on these seasonal variations by offering a diverse range of products to cater to varying customer preferences throughout the year.

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

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.

Blanket Market Key Drivers

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.

• Consumers are becoming more aware of the importance of sleep quality and overall well being. The awareness is driving the demand for blankets made from natural and eco friendly materials, as well as those with features such as temperature regulation and antimicrobial properties.
• Advances in materials science and manufacturing technology are enabling the production of blankets with enhanced features such as moisture wicking properties, breathability, and durability. The innovations are likely to attract consumers looking for high performance bedding solutions.
• The proliferation of e-commerce platforms and digital marketing channels has made it easier for blanket manufacturers and retailers to reach consumers directly. Online sales channels offer convenience and accessibility, driving market growth by expanding the reach of blanket products to a wider audience.

Challenges in the Blanket Market

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 market is highly competitive, with numerous manufacturers and brands vying for market share. Intense competition can lead to price wars, margin pressures, and reduced profitability for manufacturers. Competing with established brands and new entrants may also pose challenges for smaller or less well known companies in the market.
• Changes in consumer preferences, lifestyle trends, and fashion preferences can impact the demand for certain types of blankets. For instance, shifts towards minimalist or modern interior design aesthetics may favor blankets with sleek, contemporary designs, while traditional styles may see reduced demand.
• Increasing manufacturing and labor costs, driven by factors such as minimum wage increases, regulatory compliance, and inflation, can squeeze profit margins for blanket manufacturers. Rising costs may compel manufacturers to either absorb the additional expenses or pass them on to consumers through higher prices.

Country-wise Insights

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%

Rising Demand for Home Textiles Driving the Market in the United States

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.

Emphasis on Home Comfort to Accelerate Market Growth in Germany

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.

Rapid Urbanization Spearhead the Market in China

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.

Fashion and Design Preferences Fueling the Market in Japan

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.

Tourism and Hospitality Industry Driving the Demand in Australia

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.

Category-wise Insights

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%

Electric Blanket Claims High Demand for Blanket

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.

Wool Segment to Hold High Demand for Blanket

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.

Competitive Landscape

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

• Pendleton Woolen Mills is known for its high quality wool blankets, crafted using traditional techniques and designs inspired by Native American heritage.
• Urbanara offers a range of stylish and modern blankets made from premium materials such as wool, cotton, and cashmere, designed to complement contemporary home decor.

Key Coverage in the Blanket Industry Report

• Technological Innovations in Blanket Manufacturing
• Sustainable Blanket Materials
• Consumer Preferences in the Blanket Market
• Competitive Pricing Strategies
• Product Differentiation Strategies
• Textile Manufacturing Market
• Apparel and Fashion Market
• Household Goods Market
• Furniture and Furnishings Market
• Home Decor Market
• Mattress Market

Report Scope

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.

Segmentation Analysis of the Blanket Market

By Product Type:

• Electric Blanket
• Regular Blanket

By Material Type:

• Wool
• Cotton
• Polyester
• Others

By End User:

• Commercial
• Residential

By Sales Channel:

• Hypermarkets/Supermarkets
• Specialty Stores
• Multi Brand Stores
• Independent Stores Retailers
• Online Retailers
• Others Sales Channel

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

Frequently Asked Questions

What is the anticipated value of the Blanket market in 2024?

The blanket market is projected to reach a valuation of USD 8,732.1 Million in 2024.

What is the expected CAGR for the Blanket market until 2034?

The blanket industry is set to expand by a CAGR of 4.2% through 2034.

How much valuation is projected for the Blanket market in 2034?

The blanket market is forecast to reach USD 13,176.4 Million by 2034.

Which country is projected to lead the Blanket market?

China is expected to be the top performing market, exhibiting a CAGR of 6.9% through 2034.

Which is the dominant material type in the Blanket domain?

Wool segment is preferred, and is expected to account for a shared of 47.9% in 2024.