Blanket Market is Anticipated to Touch a Value of Nearly USD 9.9 Bn in the year 2027 - Says FMI Analyst

The global blanket market is estimated at USD 7.9 billion in 2022 and is projected to reach USD 9.9 billion by 2027, at a CAGR of 3.7% from 2017 to 2021. As per newly released data by Future Market Insights (FMI), the demand in the blanket market grew at approximately 4.5% CAGR in the forecast year, reaching a market valuation of US$ ~7 Bn in 2020.

As per newly released data by Future Market Insights (FMI), the demand in the blanket market grew at approximately 4.5% CAGR in the forecast year, reaching a market valuation of US$ ~7 Bn in 2020.

Customers in the US especially, the working class are highly keen on premium and luxury products in their residential areas, therefore, the blanket market is projected to grow with a CAGR of over ~4%. Also, with the rapidly evolving lifestyle patterns and urbanization, the possession of houses is growing in the US, which is likely to enable growth in terms of volume of sales of the blanket market.

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Key Points Covered in Blanket Market Survey

Market estimates and forecast 2013-2027
Key drivers and restraints impacting market growth
Segment-wise, Country-wise, and Region-wise Analysis

Besides launching eco-friendly products, companies are partnering with environmental protection groups to promote cruelty-free and chemical-free manufacturing. Such efforts undertaken by various organizations such as Shades of Green, Boll & Branch, and Pottery Barn are likely to promote sustainable and eco-friendly bedding and help the market grow.

Key Takeaways from the Plush Blanket Market Study

Full-size blankets are expected to hold the leading revenue share of 21.4% in the market in 2021.
The U.S. will hold a share 87.7% in North America in 2021, owing to the high penetration of key players in the country.
India is a key market in South Asia, registering growth at above 10.3% CAGR owing to higher spending on premium products in the country and increasing development in the real estate category.
Europe will continue showcasing lucrative opportunities for the plush blanket market. Demand in Germany and the U.K. will continue supporting growth in the region.

Who is Winning?

Some of the leading players in the market are Berkshire Blanket & Home Co., American Blanket Company, FleecePro, Sunbeam Products, Inc., ADORNit, Plush Addict Ltd., Robert Kaufman Co., Inc., Shannon Fabrics Inc., Venus Group, The Company Store, The Northwest Company, among others.

Market players are focusing on the expansion of their product portfolio. Some of them are increase their sales by expanding their business portfolio by collaborating with e-commerce supply channels.

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For instance, in 2021, PIXERS launched a customized plush blanket that is soft and warm, suitable for the bedroom, kid's room and the living room as a bedspread or additional cover. This factor helps the company to gain customer attention in the market.

Global Blanket Market by Category

By Product Type:

Electric Blanket
Regular Blanket

By Material Type:

Wool
Cotton
Polyester
Others

By End-User:

Residential
Commercial

By Sales Channel:

Wholesalers/ Distributors
Hypermarkets/ Supermarkets
Specialty Stores
Multi-brand Stores
Independent Small Retailers
Online Retailers
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

This release was published on openPR.