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The Rise Of The Hotel Industry Fuels Growth In The Blanket Market: A Key Catalyst Accelerating Blanket Market Growth in 2025
Blanket Market Size
Blanket Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the blanket market has seen substantial growth in the past few years. It is projected to expand from $8.14 billion in 2024 to $8.6 billion in 2025 with a compound annual growth rate (CAGR) of 5.6%. The upward trend in the past can be tied to rising demand for home comfort items, the increasingly popular trend of weighted blankets, growth in online retail sales, a surge in the demand for luxury and premium blankets, as well as the expansion of e-commerce.
Blanket Market Size Forecast: What's the Projected Valuation by 2029?
Expectations suggest robust expansion in the blanket market over the upcoming years, with estimates protruding a rise to $10.52 billion in 2029, alongside a compound annual growth rate (CAGR) of 5.2%. Several contributing factors to the anticipatory growth during this forecast period encompass an escalating consciousness about environment-friendly products, an uptrend in worldwide demand for decorative blankets, a developing preference for comfort, heightened demand for customized products and a spike in urbanization. Foreseen trends during this period involve technological innovation, incorporation of smart technology, utilization of eco-friendly materials, sustainable packing solutions, and the rise of blankets designed for travel.
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What Are the Drivers Transforming the Blanket Market?
The blanket market is projected to witness substantial growth due to the expansion of the hospitality industry. The hospitality sector, encompassing diverse services like lodging, food and beverage, entertainment, and recreation for travelers and guests, is experiencing significant growth due to increased global travel, rising disposable incomes, and the mounting demand for unique and varied accommodations. Hotels use blankets to boost comfort and warmth, elevate guest satisfaction, and create a warm, welcoming ambience. As a case in point, in January 2023, the US's American Hotel and Lodging Association reported a remarkable rise in hotel occupancy rates - jumping to 62.7%, marking a 9% increase from 2021. Additionally, projections indicate that this rate may continue to rise to around 63.8% in 2023. Thus, it is the expansionary curve of the hospitality sector that is fueling the growth of the blanket market.
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What Long-Term Trends Will Define the Future of the Blanket Market?
Leading organizations in the blanket market are concentrating on the production of innovative items, such as smart electric blankets, to boost consumer satisfaction, efficiency, and energy conservation. These smart electric blankets are technologically advanced bedding solutions that offer accurate temperature regulation, programmable configurations, and compatibility with intelligent home systems for improved comfort and energy conservation. For example, Xiaomi Inc., a consumer electronics company based in China, launched the Mijia Smart Electric Blanket in October 2023. This product offers advanced features and compatibility with smart home systems. Users can use a smartphone app to accurately control the blanket's temperature, allowing for distant customization of comfort settings. The blanket also features a rapid heating function for immediate warmth when needed.
Which Segments in the Blanket Market Offer the Most Profit Potential?
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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Which Firms Dominate the Blanket Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Blanket Market?
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.
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