Top Emerging Trends Of Blanket Market Progress Forecast 2025Posted by Mrudula Anil Karmarkar on June 2nd, 2021 The global blanket market size is expected to reach USD 23.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Significant growth of the travel and hospitality industries at a global level as a result of reduced airline fares and attractive value-added services provided by key hotel industry participants is expected to remain a prominent factor. Furthermore, rising national defense spending by the governments of countries including U.S., China, Russia, Iran, Israel, India, and Pakistan is expected to promote the use of blankets for military and air force over the next few years. Cotton-based products dominated the market and generated a revenue of USD 4.6 billion in 2018. These product types are expected to gain momentum as a result of their high visibility as durable comfort characteristics. Furthermore, these textile products have the ability to perform across a wide range of climate conditions. Since the last few years, some of the celebrities have been launching the products under their name. For instance, in March 2019, Drew Barrymore launched Flower Home, a homeline at Walmart.com. The brand, along with various home related décor and furniture, also offers blankets that are richly layered and cozy. Similarly, in March 2019, the multinational furniture company, Ikea launched the brand Overalt. The brand specifically offers African design decors and furniture. Moreover, Sindhiso Kumhalo and Renée Rossouw have been working on quilt and blanket projects for the launch of products, which are based on African designs. In May, 2019, natural home goods brand Buffy launched a new product, The Breeze. These temperature regulating comforters are derived from eucalyptus fibers. Shell fabric and the fills are the naturally more breathable as compared to other comforters derived from polyester or animal-based materials. The breathability associated with these product forms ultimately leads to a more regulated temperature during sleep. The industry is expected to witness further growth as a result of increasing demand for luxury and comfort among the working-class population in the developing countries such as India and China. The pattern, material, and color of blankets play an essential role in influencing the buying behavior of consumers. Considering the change in the buying patterns, preference for bold and dramatic colors has been observed among consumers. Blanket manufacturing companies have been incorporating these preferable colors and patterns in their new products. Blanket Market Report Highlights
New product developments such as pastel colored cotton blankets are expected to remain a recent trend. Preference for color and pattern is mostly based on the requirements of products with excellent for stain resistance and machine washable properties. Additionally, demand for exotic colors and patterns related to flora and fauna has been observed in countries including India, Vietnam, Myanmar, and Sri Lanka. Over the past few years, fluctuating weather patterns at a global level have played a crucial role in promoting the utility of electric blankets. The ability of the blanket to warm itself offers temperature control benefits and over the top comfort. Growing consumer awareness, coupled with the frequent launch of the new blankets with high quality, is expected to expand the industry size. In addition, an increase in private consumption expenditure is likely to boost the consumption of luxury and decorative products, especially in emerging countries including China and India. Cotton accounted for a share of more than 25.0% in 2018. Durability and softness associated with these products is expected to promote the demand in the near future. These products are made by spinning cotton yarns available in a wide range of sizes and weights to cater to different needs of domestic and international markets. Strong foothold of cotton farming base in U.S., Brazil, Pakistan, India, China, Australia, Turkey, and Uzbekistan is expected to drive the industry participants to establish their strategic business units in close proximity. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/6174/ibb Some of the key players are American Blanket Company, Amritsar Swadeshi Textile Corporation Pvt. Ltd., Chellco Industries Limited, Geetanjali Woollens Pvt. Ltd., Jindal Woollen Industries Ltd., Odessey Products, Prakash Woollen & Synthetic Mills Limited, Qbedding.com, and Youngman Woollen Mills Private Limited. The industry is fragmented as a result of high concentration of local manufacturing firms in developing economies including China and India. These countries are not only abundant in cotton harvesting but also have been flourishing in mink farming. Moreover, the manufacturers have been experimenting with polyester and innovating a variety of products to cater to different climatic conditions and price ranges. Grand View Research has segmented the global blanket market on the basis of product, application, distribution channel: Blanket Product Outlook (Revenue, USD Billion, 2015 - 2025)
Blanket Application Outlook (Revenue, USD Billion, 2015 - 2025)
Blanket Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |