Electric Blanket Market Expected to Witness Continued Growth by 2030 - Persistence Market Research

The electric blanket market has witnessed significant growth in recent years, driven by the increasing demand for efficient and cost-effective heating solutions, particularly in colder regions. Electric blankets, which offer the convenience of pre-warming before use, have become a popular choice among consumers seeking comfort and warmth. These blankets are particularly valued for their ability to reduce the need for traditional home heating systems, which can be expensive and inefficient. The global market for electric blankets is expected to expand considerably between 2020 and 2030, fueled by growing consumer awareness of the advantages these products offer in terms of both comfort and energy savings.

In terms of market size, the electric blanket market is projected to grow at a healthy compound annual growth rate (CAGR) of approximately 7% through the forecast period. The key growth drivers for this market include technological innovations, such as lightweight, washable, and battery-powered electric blankets, which are improving consumer convenience. In addition, the increasing popularity of under blankets (heated mattress pads) is expected to dominate market demand, as they offer a more comfortable and energy-efficient alternative to traditional bedding. Geographically, North America holds the largest market share, owing to its colder climate and consumer familiarity with electric blankets. Europe also accounts for a significant portion of the market, with East Asia projected to experience the highest growth rate.

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Market Statistics and Key Growth Drivers

The global electric blanket market is experiencing steady growth, with strong demand from key consumer segments, particularly seniors, who are more sensitive to cold temperatures. This demographic has increasingly turned to electric blankets to help manage their comfort during the colder months. Additionally, the rise in awareness about the energy-saving benefits of electric blankets is driving their adoption across various regions. Unlike traditional room heaters, which can be expensive to operate, electric blankets provide targeted warmth, which can help reduce overall energy consumption and heating costs.

Technological innovations in electric blanket designs have also contributed to the market's growth. Features such as waterproof blankets, mobile chargeable blankets, machine washable materials, and water-resistant fabrics have enhanced the appeal of electric blankets. Manufacturers continue to innovate to cater to the growing demand for convenience and energy efficiency, making electric blankets an attractive option for a broad range of consumers. The increasing preference for under blankets-often preferred for their ability to warm the bed from beneath, providing a more even and comfortable warmth-is expected to lead market growth throughout the forecast period. North America remains the leading market due to the cold climate and strong consumer demand for effective winter heating solutions.

Key Highlights from the Report

➤ The global electric blanket market is expected to grow at a CAGR of 7% through 2030.
➤ Under blankets (heated mattress pads) are projected to dominate the market in both market share and growth rate.
➤ Technological innovations, such as battery-powered and machine washable blankets, are driving consumer interest.
➤ The aging population, especially those over 60, is a key demographic driving demand for electric blankets.
➤ The North American market holds the largest share of the global electric blanket market.
➤ The seasonal nature of electric blanket sales can create risks for businesses, with the bulk of sales occurring during the colder months.

Market Segmentation

The electric blanket market can be segmented in various ways, including by product type, end-user, and region. Product types include over blankets, under blankets (also known as heated mattress pads), and electric pads. Among these, under blankets are expected to dominate the market due to their comfort and energy efficiency. Under blankets fit directly over the mattress and below the sheet, providing warmth from below, which many consumers find more comfortable compared to over blankets that go directly over the body. Additionally, electric pads, which are used to warm specific body parts, are gaining traction due to their versatility in pain management and targeted heat application.

In terms of end-users, the market is primarily driven by residential consumers, but the demand from senior citizens and healthcare facilities is also significant. Older adults are more likely to purchase electric blankets to stay warm during the winter months, as they are more sensitive to cold. This has made the senior segment a key driver in the market's growth. Additionally, healthcare facilities are increasingly using electric blankets to help manage patient comfort in colder climates or during medical treatments. The market is also segmented by sales channels, with online retail platforms gaining ground due to the convenience they offer. Traditional brick-and-mortar stores, however, continue to account for a significant share of sales, particularly during peak winter months.

Regional Insights

The North American region leads the global electric blanket market in terms of both revenue and market share, accounting for over 1/3 of the market in 2020. This dominance is largely driven by the region's colder climate, where consumers are more likely to invest in efficient heating solutions. Furthermore, North America has a mature market for home heating products, and electric blankets are considered an essential winter item for many households. With the increasing preference for energy-efficient products, the demand for electric blankets is expected to remain strong in this region through the forecast period.

Europe is another key region for the electric blanket market, accounting for around 30% of the global market in 2020. The market in Europe is driven by similar factors, including colder weather and the growing awareness of energy-efficient heating alternatives. The demand for electric blankets in Europe is particularly strong in countries like the UK, Germany, and Russia, where winters are long and harsh. While North America holds the largest share, Europe's market continues to show healthy growth, particularly in the high-end segment, where consumers are looking for advanced features such as machine washability, battery-powered designs, and eco-friendly materials.

Market Drivers

Several factors are driving the growth of the electric blanket market. Technological advancements in electric blanket designs have been a significant driver. Manufacturers are incorporating features like machine washable fabrics, waterproof materials, and energy-efficient heating technology, making these blankets more user-friendly and attractive to consumers. In addition, energy conservation is becoming a major consideration for consumers, and electric blankets offer a cost-effective solution by targeting warmth directly where it is needed, reducing the need for higher energy-consuming home heating systems.

Another major driver is the increasing demand from senior consumers. Older adults, particularly those aged 60 and above, are more susceptible to cold weather and often have higher heating requirements. Electric blankets provide an efficient and safe way for seniors to manage their body temperature, especially in the winter months. These blankets are increasingly seen as a must-have for elderly individuals, particularly those who live alone or in colder climates. As this demographic continues to grow globally, the demand for electric blankets is expected to increase significantly.

Market Restraints

Despite the positive growth trajectory, there are some restraints hindering the expansion of the electric blanket market. One of the primary challenges is the seasonality of electric blanket sales. These products are typically only in demand during the colder months, from September to January, which can make it difficult for manufacturers to maintain year-round profitability. Companies that invest heavily in the development, design, and marketing of electric blankets face the risk of low sales outside the winter season. Additionally, the high initial cost of some electric blankets, especially those with advanced features, may deter price-sensitive consumers.

Another significant restraint is the safety concerns associated with electric blankets. Although these products have improved in terms of safety over the years, there remains a risk of accidents such as overheating or electrical malfunctions. Furthermore, pregnant women are advised against using electric blankets due to the potential risks posed by electromagnetic fields. This cautionary stance could limit the adoption of electric blankets among certain groups of consumers, thus restricting the overall market growth.

Market Opportunities

The electric blanket market holds numerous opportunities for growth, particularly through product innovation. Manufacturers are increasingly focusing on creating advanced features that meet evolving consumer needs. For example, battery-powered electric blankets are becoming more popular due to their portability and convenience, particularly for outdoor activities or emergency situations. Additionally, sustainability is becoming a key concern for many consumers, and companies that can create eco-friendly electric blankets made from renewable or recyclable materials will likely see increased demand.

Another opportunity lies in expanding the elderly care market. As the global population of seniors continues to rise, there is an increasing need for products that cater to the comfort and well-being of elderly consumers. Electric blankets are ideal for this demographic, as they offer warmth and comfort without the need for complex heating systems. Companies can also explore healthcare and hospitality sectors, where electric blankets could be used to improve patient comfort or enhance hotel guest experiences, especially in colder regions.

Frequently Asked Questions (FAQs)

➤ How Big is the Electric Blanket Market?
➤ Who are the Key Players in the Global Electric Blanket Market?
➤ What is the Projected Growth Rate of the Electric Blanket Market?
➤ What is the Market Forecast for Electric Blankets by 2032?
➤ Which Region is Estimated to Dominate the Electric Blanket Market through the Forecast Period?

The electric blanket market is poised for continued growth, driven by innovations in technology and rising consumer demand for comfort and energy efficiency. With an increasing emphasis on sustainability, ease of use, and energy savings, this market is expected to expand steadily, especially in colder regions and among senior consumers.

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