19 February 2019: Blanket Market was million US$ in 2018 and is expected to million US$ by the end of 2024, growing at a CAGR of between 2019 and 2024.This report studies the Blanket market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2024; This report also studies the global Blanket market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
The Blanket Market is subject to witness a substantial growth due to the growing consumer awareness, wide range of prices and design available in the market. Introduction of electric blankets are expected to attract more customers, thus boosting overall sale of the product.
Increase in number of advantages associated with the product coupled with growing population are some of key driving factors for the sustained growth of market, in the recent years. Globally, the market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for market players to invest for further development in the blanket market.
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Increase in spending by consumers and improved living standards in both developing and underdeveloped economies across the globe are expected to favor market growth over the forecast period. Blanket provides necessary warmth, particularly in the winter, and are properly insulated. Introduction of electric blanket is gaining wide recognition in the Asia Pacific and North America region, thus expanding overall market reach of the blanket industry. Increasing consumer preference towards electric blanket is attributed to the numerous benefits that allow consumers to access multiple features and deliver maximum comfort.
Increasing investment by international manufacturers has led to development of innovative features such as waterproof blankets; battery-powered blankets that consists of mobile chargeable sockets are expected to offer lucrative growth opportunities in upcoming years. Addition of lightweight, durable, machine washable and water resistant blanket are estimated to drive more consumer in the near future as well.
Furthermore, exclusive features such as machine washable and stain resistant blankets make, which are friendlier and comfortable to users, are gaining traction in the end-user market in the recent years. Increasing demand form countries with extreme weather condition are propelling market demand for blanket over the forecast period.
The key players in the blanket market are Hudson’s Bay Company, Honeywell International Inc., American Blanket Company, Kanata Blanket Co., Boll & Branch Co., and Shanghai Easun Group Imp & Exp Co., Ltd.
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Blanket Market by Geographical Regions:-
• North America
• Asia Pacific
• Middle East and Africa
• South America
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