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Electric Blanket Market Projected Expansion to $1.1+ Billion Market Value by 2032 with a 8.3% CAGR
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Prime Determinants of Growth
Over the years, there has been an increasing demand for electric blankets, especially during the winter season due to their ability to provide warmth and comfort to the user. This increase in demand is predicted to be one of the important factors driving the growth of the global electric blanket market in the forecast timeframe. However, the safety concerns associated with electric blankets due to electric wires or heating elements may hamper the electric blanket market growth in the coming period. On the contrary, the technological advancements in electric blanket products are expected to offer growth opportunities for the expansion of the electric blanket market in the 2023-2032 forecast period.
Size: Queen Sub-segment Projected to Gather a Huge Revenue During the Forecast Period
The queen sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a high CAGR during the forecast period. Queen size beds are one of the most popular sizes, providing ample space for couples or individuals who prefer extra room while sleeping. As a result, there is a high demand for queen sized electric blankets which is predicted to boost the sub-segment's growth by 2032.
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Distribution Channel: Offline Sub-segment Projected to be One of the Most Lucrative During the Forecast Period
The offline sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a CAGR of 8.8% during the forecast period. Offline distribution channels provide accessibility to a large customer base, including those who prefer to take a good look at the product before buying it. As a result, there is a growing preference for offline distribution channels which is predicted to boost the sub-segment's growth by 2032.
Region: Europe Market to be One of the Fastest Growing by 2032
The Europe region accounted for the highest share in the global electric blanket market in 2022 and is expected to rise at a CAGR of 9.0% during the forecast period. The growing awareness among consumers in Europe about the benefits of electric blankets including the warmth and comfort that they offer during cold winters has led to an increased adoption and demand. This surge in demand is expected to be the main growth driver of the market in Europe region by 2032.
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Leading Players in the Electric Blanket Market:
Newell Brands Inc.
Dreamland
Silentnight
Jarden Corporation
Slumberdown
Lakeland
Beurer
Mylek
Morphy Richards Ltd.
Homefront
Read More https://www.einpresswire.com/article/765487886/electric-blanket-market-to-witness-comprehensive-growth-by-2032-newell-brands-jarden-corporation
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