The Rise Of The Hotel Industry Fuels Growth In The Blanket Market: A Key Factor Shaping the Future of the Blanket Market in 2025

What Are the Projections for the Size and Growth Rate of the Blanket Market?
The value of the blanket market has been witnessing robust growth over recent years. It's projected to expand from a market size of $8.14 billion in 2024 to $8.6 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.6%. Factors contributing to this growth in the past include a burgeoning demand for products that enhance comfort at home, a growing trend for weighted blankets, an increase in online retail sales, a surge in demand for high-end and premium blankets, along with the overall growth of e-commerce.

In the coming years, the blanket market is anticipated to experience substantial expansion, reaching a value of $10.52 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. The predicted growth during the forecast period can be linked to heightened awareness around environmentally friendly products, a surge in the global demand for decorative blankets, a growing emphasis on comfort, a rising need for tailored products, and escalating urbanization. Key trends anticipated for the forecast period comprise advancements in technology, inclusion of intelligent technology, use of eco-friendly materials, sustainable packaging methods, and the appeal of travel-friendly blankets.

What Are the Key Drivers Behind the Growth of the Blanket Market?
The growth of the blanket market is anticipated to be driven by the expansion of the hospitality industry. This industry, which offers guests accommodations, food and drink, recreation and entertainment, has grown largely due to an increase in global tourism, increased disposable income and a rising demand for a variety of unique lodging options. Blankets, which provide warmth and comfort in hotel rooms, augment guest satisfaction and foster a comfortable and welcoming environment. The American Hotel and Lodging Association, a US-based hotel association, indicated that hotel occupancy rates experienced a notable upswing in January 2023, reaching 62.7%, reflecting a 9% increase from 2021. Furthermore, it's predicted that in 2023, this figure will rise to 63.8%. Thus, the growth of the hospitality industry is fuelling the blanket market.

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Which Businesses Are at the Forefront of Blanket Market Development?
Major companies operating in the blanket market are Walmart Inc., Medline Industries Inc., Ralph Lauren Home, Hudson's Bay Company, Pottery Barn, Eddie Bauer LLC, Nautica Home, Beurer GmbH, Pendleton Woolen Mills, Silentnight Group Limited, WestPoint Home, Jarden Corporation, BUDDEMEYER S/A, Boll & Branch Co., Mellanni Fine Linens, American Blanket Company, URBANARA GmbH, Qbedding.com, Cuddledown Inc., Faribault Woolen Mill Co., Morphy Richards Ltd., Biddeford Blankets LLC, Chellco Industries Limited, Kanata Blanket Company

What Are the Latest Innovations in the Blanket Market?
Significant players in the blanket market are concentrating on the creation of innovative products such as smart electric blankets, aimed at improving the comfort, convenience, and energy efficiency for consumers. These smart electric blankets are sophisticated bedding options with built-in technology that provides accurate temperature regulation, customizable settings, and compatibility with smart home systems for added comfort and energy-saving purposes. For example, in October 2023, the Mijia Smart Electric Blanket was introduced by Xiaomi Inc., a consumer electronics firm based in China. This smart blanket offers advanced features and compatibility with smart home systems. The blanket comes with an app allowing temperature adjustments from a smartphone, giving users the ability to remotely fine-tune their comfort preferences. Additionally, it boasts a fast-heating feature to provide immediate warmth as needed.

How Is the Blanket Market Segmented?
The blanket market covered in this report is segmented -

1) By Product Type: Electric Blanket, Regular Blanket
2) By Material Type: Wool, Cotton, Polyester, Other Material Types
3) By Sales Channel: Hypermarkets Or Supermarkets, Specialty Stores, Multi Brand Stores, Independent Stores Retailers, Online Retailers, Other Sale Channels
4) By End User: Commercial, Residential

Subsegments:
1) By Electric Blanket: Heated Throw Blankets, Heated Mattress Pads, Heated Electric Blankets With Dual Control, Ultra-Thin Electric Blankets
2) By Regular Blanket: Wool Blankets, Cotton Blankets, Fleece Blankets, Down And Down Alternative Blankets, Microfiber Blankets, Knitted Blankets

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Where Is the Blanket Market Growth Most Prominent?
North America was the largest region in the blanket market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blanket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Blanket Global Market Report?

- Market Size Analysis: Analyze the Blanket Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blanket Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blanket Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blanket Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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