Blanket Market Report 2024

The blanket market size has grown steadily in recent years. It will grow from $7.77 billion in 2023 to $8.14 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth during the historic period can be attributed to the rising demand for home comfort products, the increasing popularity of weighted blankets, a surge in online retail sales, a growing demand for luxury and premium blankets, and the expansion of e-commerce.

The blanket market size is expected to see strong growth in the next few years. It will grow to $10.01 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth during the forecast period can be attributed to a heightened awareness of eco-friendly products, a rising global demand for decorative blankets, a growing focus on comfort, an increased demand for personalized items, and ongoing urbanization. Major trends for this period include technological advancements, the integration of smart technology, the use of sustainable materials and packaging, and the development of travel-friendly blankets.

The growth of the hospitality industry is anticipated to drive the expansion of the blanket market. The hospitality sector includes a range of services and businesses that cater to travelers and guests with lodging, food and beverage, recreation, and entertainment. This industry is expanding due to increased global travel, rising disposable incomes, and a growing preference for diverse and unique accommodations. Blankets play a crucial role in hotel rooms by providing comfort and warmth, enhancing guest satisfaction, and contributing to a cozy and inviting atmosphere. For example, in January 2023, the American Hotel and Lodging Association, a US-based hotel association, reported a significant rise in hotel occupancy rates to 62.7%, a 9% increase from 2021. Projections suggest this figure will reach 63.8% in 2023. Consequently, the growth of the hospitality industry is fueling the blanket market.

Leading companies in the blanket market are focusing on developing innovative products such as smart electric blankets to improve consumer comfort, convenience, and energy efficiency. Smart electric blankets feature technology that allows for precise temperature control, programmable settings, and integration with smart home systems to enhance comfort and energy efficiency. For instance, in October 2023, Xiaomi Inc., a China-based consumer electronics company, introduced the Mijia Smart Electric Blanket. This blanket offers advanced features and smart home integration, including precise temperature control via a smartphone app, customizable comfort settings remotely, and a quick-heating function for immediate warmth.

In October 2021, Sleep Country Canada Holdings Inc., a Canadian company specializing in mattresses and bedding products, acquired Hush Blankets for an undisclosed amount. This acquisition aims to broaden Sleep Country Canada's product range and strengthen its position in the sleep and wellness market by adding Hush Blankets' innovative weighted blankets and sleep solutions to its portfolio. Hush Blankets is a Canadian manufacturer of high-quality, comfortable, and therapeutic blankets.

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.

North America was the largest region in the blanket market in 2023. 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.

The countries covered in the blanket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Blankets are versatile textile products designed to provide warmth, comfort, and aesthetic appeal in both residential and commercial environments. Available in a range of materials, sizes, and types, they are commonly utilized in homes, hospitals, and other settings.

The primary types of blankets are electric blankets and regular blankets. Electric blankets use electricity to generate heat, allowing users to adjust the temperature for personalized warmth and comfort. They are particularly popular in colder climates and can help lower energy costs compared to traditional heating methods. Various materials used for blankets include wool, cotton, polyester, and others. They are distributed through different sales channels such as hypermarkets, supermarkets, specialty stores, multi-brand stores, independent retailers, online retailers, and others, and are used by a range of end-users including commercial and residential sectors.

The blankets market research report is one of a series of new reports that provides blankets market statistics, including blankets industry global market size, regional shares, competitors with a blanket market share, detailed blanket market segments, market trends, and opportunities, and any further data you may need to thrive in the blankets industry. This blanket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The blanket market consists of sales of weighted blankets, hospital blankets, camping blankets, and baby blankets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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