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Leading Element Driving Change in the Blanket Market in 2025: The Rise Of The Hotel Industry Fuels Growth In The Blanket Market Driver
Blanket
The blanket market is set to grow exponentially due to the escalating rise of the hospitality sector. The hospitality sector comprises various businesses and services that provide accommodation, food and drinks, entertainment, and leisure activities for tourists and guests. Increased global travel, rising disposable income, and the growing appetite for a wide range of unique lodging experiences are fueling the expansion of this industry. Hotels utilize blankets to provide warmth and comfort, improve guest contentment, and create a welcoming environment. For example, the American Hotel and Lodging Association, a US-based hotel association, reported in January 2023 that hotel occupancy rates significantly surged to 62.7%, marking a 9% increase from 2021. Moreover, it is expected that these rates will further rise to 63.8% in 2023. Thus, the growth of the hospitality industry is driving the blanket market forward.
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What is the projected compound annual growth rate (CAGR) of the blanket market from 2025 to 2034, and what factors influence it?
The expansion of the blanket market has been robust in recent periods. The market is projected to increase from $8.14 billion in 2024 to around $8.6 billion in 2025, showing a compound annual growth rate (CAGR) of 5.6%. This significant growth during the historical period can be tied back to the escalating demand for home comfort items, the growing popularity of weighted blankets, the increase in online retail sales, the surge in demand for luxury and high-end blankets, and the development of e-commerce.
The market size for blankets is projected to experience robust expansion in the upcoming years, reaching $10.52 billion in 2029 with a compound annual growth rate (CAGR) of 5.2%. This projected growth during the forecast period can be credited to the heightened consciousness for environmentally-friendly products, increased international demand for ornamental blankets, a growing preference for comfort, escalating demand for custom products, and rising urbanization. Prime trends foreseen for the forecast period include technological evolutions, the incorporation of advanced technology, utilization of sustainable resources, environment-friendly packaging, and portable blankets.
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How are the latest trends influencing the growth of the blanket market?
Major enterprises in the blanket market are targeting the creation of novel items such as smart electric blankets to augment the levels of consumer comfort, convenience, and energy saving. These smart electric blankets represent the next generation of bedding items, featuring technology for accurate temperature adjustment, programmable preferences, and compatibility with savvy home systems to boost comfort and energy conservation. A case in point, Xiaomi Inc., a firm from China specialising in consumer electronics, unveiled the Mijia Smart Electric Blanket in October 2023. This blanket incorporates superior features and smart home synchronisation. The users can control the temperature accurately using a smartphone app and therefore modify their comfort settings from afar. It also incorporates a feature for quick heating, ensuring immediate warmth when required.
What are the major segments of the blanket market and their role in driving growth?
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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What regions are at the forefront of blanket market expansion?
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.
Who are the key firms paving the way for growth in the blanket market?
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
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What Is Covered In The Blanket Global Market Report?
•Market Size Forecast: Examine the blanket market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the blanket market for a structured understanding.
•Key Players Overview: Analyze major players in the blanket market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the blanket market.
•Segment Contributions: Evaluate how different segments drive overall growth in the blanket market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the blanket market.
•Industry Challenges: Identify potential risks and obstacles affecting the blanket market.
•Competitive Landscape: Review strategic developments in the blanket market, including expansions, agreements, and new product launches.
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