Blanket Market Growth Insights: [USD 7.6 Billion] Value and [6.21% CAGR] by 2028

The global blanket market has witnessed significant growth in recent years, driven by consumer demand for comfort, innovation in materials, and rising interest in sustainable products. According to TechSci Research’s report, “Global Blanket Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028,” the market stood at USD 7.6 billion in 2022 and is projected to grow at a CAGR of 6.21% during the forecast period from 2024 to 2028.

This report delves into the key market dynamics, trends, challenges, and opportunities shaping the global blanket market.

Blanket Market Drivers

1. Increasing Consumer Demand for Comfort and Lifestyle Products

Blankets have evolved from being mere functional items to lifestyle products that enhance home aesthetics and comfort. Consumers are increasingly investing in blankets that align with their personal style while offering warmth and coziness.

2. Diverse Material Options and Eco-Friendly Choices

The availability of a wide range of materials—ranging from traditional cotton and wool to modern synthetic blends and fleece—has boosted consumer options. Eco-conscious consumers are driving demand for sustainable materials like organic cotton, bamboo, and recycled fibers. This trend aligns with the global push for environmentally friendly products.

3. Design Aesthetics and Customization

Blankets are no longer chosen solely for their utility. Fashion-forward designs, unique patterns, and bold color schemes have made them integral to home décor. The option for customization, including personalized blankets, has further fueled consumer interest.

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4. E-Commerce Growth and Convenience

The growing prevalence of online retail platforms has revolutionized the blanket market. E-commerce provides consumers with easy access to a vast range of blankets, allowing them to compare prices, read reviews, and make informed choices from the comfort of their homes. Online channels have also intensified competition among manufacturers, prompting continuous product innovation.

5. Technology Integration: Emergence of Smart Blankets

The development of electric and smart blankets has transformed the market. These advanced products come with features like adjustable temperature controls, mobile device connectivity, and smart home integration, catering to the tech-savvy consumer seeking both comfort and convenience.

Key Market Trends

Sustainability and Eco-Friendly Practices

Sustainability has become a critical trend in the blanket market. Companies are increasingly adopting eco-friendly practices, such as using natural dyes, organic fibers, and recycled materials. This aligns with growing consumer awareness of environmental issues and demand for green products.

Handcrafted and Artisanal Blankets

Handcrafted blankets, often made using traditional techniques, have gained popularity among consumers seeking authenticity and uniqueness. These products are particularly appealing for their artisanal quality and cultural significance.

Inclusivity in Sizing and Versatility

The focus on inclusivity is expanding in the market, with manufacturers offering blankets in diverse sizes and designs to cater to all consumer needs. Versatile blankets that can serve multiple purposes—such as throws, picnic blankets, and travel blankets—are also seeing growing demand.

Limited-Edition and Collaborative Collections

Leading brands have started launching limited-edition collections and collaborations with designers to attract trend-conscious consumers. For instance, Byredo’s limited edition Alphabeta blankets in bold colorways exemplify how luxury and exclusivity are entering the market.

Blanket Market Challenges

• Economic Uncertainty

The blanket market, like many others, is susceptible to global economic fluctuations. Recessionary pressures can affect consumer spending on non-essential items, including premium blankets.

• Environmental Concerns and Regulatory Compliance

As consumers become more conscious of the environmental impact of their purchases, blanket manufacturers must adapt their supply chains to meet stringent environmental standards. Balancing cost-efficiency with sustainability can be a significant challenge.

• Intense Competition and Market Consolidation

The blanket market is highly competitive, with numerous players offering similar products. Price wars and product differentiation are crucial challenges for companies aiming to maintain market share. Additionally, consolidation in the industry could pose barriers for smaller or new entrants.

Segmentation Analysis

By Product Type

• Regular Blankets: Traditional blankets made from cotton, wool, and synthetic blends dominate this segment. These blankets are popular due to their versatility and affordability.
• Electric and Smart Blankets: This growing segment offers innovative solutions with features like temperature control, energy efficiency, and smart technology integration. These blankets are particularly popular in colder regions.

By Application

• Residential: The residential sector remains the largest application segment, driven by rising consumer interest in home décor and comfort products.
• Commercial: Hotels, hospitals, and other commercial establishments represent a significant market for blankets, with a focus on durability, comfort, and easy maintenance.

By Sales Channel

• Supermarkets/Hypermarkets: These channels offer consumers the advantage of physical inspection before purchase.
• Multi-Branded Stores: Specialty retailers provide a curated selection of high-quality blankets, often targeting premium consumers.
• Online Platforms: E-commerce is the fastest-growing sales channel, driven by convenience, competitive pricing, and a wide product selection.
• Others: This category includes local markets, direct sales, and niche boutique stores.

Regional Analysis of Blanket Market 

1. North America

North America holds a significant share of the global blanket market, led by the United States, where consumers prioritize comfort, style, and technology integration. Electric blankets are particularly popular in colder regions.

2. Europe

Europe is characterized by a strong demand for sustainable and artisanal blankets. Countries like France, Germany, and the United Kingdom are key markets, driven by growing consumer interest in eco-friendly and high-quality products.

3. Asia-Pacific

Asia-Pacific is the fastest-growing region, fueled by rising disposable incomes, rapid urbanization, and a growing middle class. Countries like China and India are major markets, with increasing demand for both affordable and premium blankets.

4. Middle East & Africa

In this region, the demand for luxury and handcrafted blankets is growing steadily. The UAE and Saudi Arabia are key markets for premium products, while affordability is a crucial factor in other parts of the region.

5. South America

Brazil and Argentina lead the South American market, driven by demand for cozy home textiles. The region offers significant growth opportunities for eco-friendly and artisanal blankets.

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Competitive Landscape

The global blanket market is highly competitive, with several prominent players striving to expand their market presence. Companies are focusing on innovation, product diversification, and sustainable practices to gain a competitive edge.

Major Players

• American Blanket Company: Known for its high-quality, American-made blankets.
• Pendleton Woolen Mills: Offers premium wool blankets with unique patterns and designs.
• Hudson’s Bay Company: Famous for its iconic striped blankets.
• Boll & Branch: Focuses on organic cotton blankets and sustainable practices.
• URBANARA GmbH: Offers contemporary designs and eco-friendly materials.
• Shanghai Easun Group: A leading manufacturer of affordable and high-volume blankets.
• Medline Industries, Inc.: Specializes in healthcare textiles.
• Biddeford Blankets, LLC: Known for its electric blankets and heating products.

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Recent Developments

• Brooklinen (2023): Launched a new range of lightweight textured throw blankets.
• Byredo (2023): Released limited edition Alphabeta blankets in four new colorways.

Opportunities for Growth and Innovation

1. Sustainability and Circular Economy: Embracing circular economy principles and promoting recycling initiatives can open new doors for growth.
2. Smart Technology Integration: The development of next-generation smart blankets with advanced features could attract tech-savvy consumers.
3. Customization and Personalization: Offering personalized options can help brands build stronger consumer loyalty.
4. Expanding Online Presence: Investing in digital marketing and enhancing the online shopping experience will be crucial for sustained growth.

Conclusion

The global blanket market is evolving rapidly, driven by consumer demand for comfort, sustainability, and innovation.

The increasing popularity of electric and smart blankets, coupled with the growing focus on eco-friendly practices, presents exciting opportunities for manufacturers. Despite challenges such as economic uncertainties and intense competition, the market is well-positioned for continued growth and transformation.

Companies that prioritize innovation, sustainability, and consumer-centric solutions will be best equipped to thrive in this dynamic landscape.

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