Blanket Market: Dynamics Trends, Statistics, Segments Growth Factors Forecast to 2030

Posted by Mrudula Anil Karmarkar on September 25th, 2024

San Francisco, 25 September 2024: The Report Blanket Market Size, Share & Trends Analysis Report By Product (Mink, Fleece, Wool, Cotton, Polyester, Others), By Application, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

The global blanket market size is expected to reach USD 25.54 billion by 2030, registering to grow at a CAGR of 7.5% from 2024 to 2030 according to a new report by Grand View Research, Inc. 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 2024, 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 2024, 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, 2024, 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 blanket market is witnessing significant growth driven by technological advancements such as smart textiles, digital knitting machines, and eco-friendly materials. Innovations in the textile market, such as temperature-regulating fabrics and sustainable production techniques, enhance product offerings.

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The rapid expansion in urban developments and the rising growth of the hospitality industry are projected to drive the demand for blankets. Hotels and homestays prioritize providing reliable and comfortable customer service, increasing blanket consumption. Increased investments in infrastructure development of hotels and other lodging services also uplift the demand for blankets.

Blanket Market Report Highlights

• The polyester segment held the largest market share of 33.8% in 2023. Polyester is a synthetic fiber known for its resilience and resistance to wear and tear.
• The commercial segment is expected to witness significant growth in the blanket market during the forecasted period.
• Asia Pacific held the largest market share of 37.1% in 2023.
• Online distribution channel is expected to register the highest CAGR from 2024 to 2030.

Another factor contributing to the increased demand for blankets is the expanding variety of designs and technological advancements in the textile industry. Innovations such as weighted blankets, marketed for their potential to reduce anxiety and improve sleep quality, have captured consumer interest. Furthermore, the availability of eco-friendly and sustainable options appeals to environmentally conscious buyers, broadening the market for blankets. Seasonal trends also influence blanket sales, with higher demand during colder months. However, introducing lightweight, breathable fabrics has expanded their use beyond winter, making blankets a year-round product. Marketing strategies that emphasize the multi-functional use of blankets, such as for picnics, outdoor events, or decorative throws, have also increased their demand.

Blanket Market Report Scope

Recent Developments

• In April 2024, Boll & Branch announced the launch of Origin Track, a digital platform that enables customers to trace the entire production journey of their bedding from the initial cotton seed to the final product. Customers can access comprehensive details about the origins and craftsmanship behind their purchase by entering a unique lot number from their product tag on the Boll & Branch website.
• In April 2023, Faribault Mill announced the launch of the new collection of National Parks blankets, marking a unique addition to their product line. This initiative features a variety of blankets inspired by iconic national parks, celebrating the natural beauty and heritage of these landmarks. The collection aims to appeal to outdoor enthusiasts and park supporters, offering them a way to connect with and commemorate their favorite parks through high-quality, American-made products.