Blanket Market By Material Type(Wool, Polyester, Cotton), By Product Type(Regular Blanket, Electric Blanket), By Application(Hospital, Household, Hotel), By Distribution Channel(Online, Offline) By Region And Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, And Forecast 2023-2032

Report Overview

Blanket market size is expected to be valued at USD 11.3 Billion in 2022 and is projected to reach USD 24.8 Billion by 2032, with a significant CAGR of 8.4% during the forecast period of 2023 to 2032.

The rise in population, luxury lifestyle, and consumer choices are the key driving factors for the market growth. The exotic color, pattern, and material of the blanket play a crucial role in persuading the buying behavior of consumers. There has been a change in buying patterns which was observed among the consumers due to the preference for bold and attractive color of blankets play.

The blanket manufacturing industries have been noticing these changes and are integrating them into their new products. For example, pastel-coloured light cotton blankets are the new trend in the market. The choice of dramatic color and pattern is based on the demand for products with superb stain resistance and machine washables. Furthermore, the requirement for attractive colors and patterns is quite related to flora and has been observed in many developed countries.

In the past few years, the change in weather conditions at the global level has played a vital role in encouraging the usage of electric blankets. It has a special feature that provides temperature control advantages and comfort. Under blankets, throws, and duvets are all the same types of blankets. These blankets can be commonly seen in the UK and Commonwealth nations, where it is known as the “electric blanket” by default. Whereas, in the US and Europe, it is less well-known and called an electric heated mattress pad.

Electric blankets are quite beneficial in developing regions, which have harsh winters due to their cost-effectiveness. Industries are aiming for the production of well-insulated sheets covered with thick fleece to offer lots of natural insulation and warmth. The biggest advantage of having an electric blanket is that it is a portable and washable product. For example, the Medisana HDW blanket is made up of microfleece and it is machine washable with temperature regulators. These manufacturers are offering luxury comfort and multipurpose blankets to enhance the market demand of the blanket industry during the forecast period.

Driving Factors

Consumer Preferences Drive Blanket Market Growth

The evolution of consumer preferences is significantly shaping the blanket market. As individuals become more discerning in their choices, there is an increased demand for blankets that not only provide warmth but also align with aesthetic tastes, ethical considerations, and lifestyle needs. This shift has led to a proliferation of options in terms of materials (organic, hypoallergenic, sustainable), textures (plush, weighted, quilted), and designs (artisan, custom prints, designer collaborations).

Trend analysis shows a growing interest in personalized and seasonal blankets, suggesting that consumers view blankets as both functional items and fashion statements for their living spaces. The demand for smart blankets—those that offer temperature control or health-monitoring features—is also on the rise, reflecting a consumer base that is keen on integrating technology into traditional home comfort items.

The blanket market's growth trajectory is expected to maintain momentum as long as consumer trends continue to favor personalization and functional innovation. In the long term, manufacturers that can adapt to and anticipate these changing preferences will likely dominate the market, leading to a more diverse and sophisticated range of products.

Luxury Lifestyles Uplift the Blanket Market

The pursuit of luxury lifestyles is a driving force behind the growth of the blanket market. Affluent consumers are seeking high-end, luxurious blankets that offer superior comfort and serve as status symbols. The luxury segment of the blanket market caters to this demand with premium materials such as cashmere, high-thread-count cotton, and exotic blends that promise exclusivity and comfort.

The rise of luxury home decor brands and the increased spending power of consumers Of Blanket in emerging economies are contributing to this trend. As luxury living extends beyond fashion and automobiles to include home furnishings, the market for luxury blankets is witnessing an uptick. This is supported by predictive analytics forecasting increased consumer investment in home comforts and luxury goods.

Increasing Popularity in Healthcare Sector Drives Blanket Market Growth

The increasing popularity of blankets in the healthcare sector significantly contributes to market growth. Hospitals and healthcare providers are recognizing the benefits of blankets not only for warmth but also for patient comfort and care. Weighted blankets, in particular, are gaining traction for their therapeutic qualities, such as reducing anxiety and promoting sleep.

The healthcare industry's demand for blankets that meet stringent hygiene standards and patient care protocols is influencing product development. Blankets designed for healthcare settings are typically durable, easy to clean, and made from materials that can withstand frequent washing at high temperatures.

This sector's influence is expected to grow, with blankets becoming standard equipment in patient care, especially as the focus on holistic care increases. Long-term growth in the blanket market within healthcare could lead to innovations such as smart textiles capable of monitoring patient health indicators or delivering treatments, further integrating blankets into patient care regimens.

Restraining Factors

High Costs Restrain Blanket Market Growth

Elevated production and raw material costs significantly restrain the growth of the blanket market. High-quality blankets that offer superior comfort or thermal properties often require expensive materials and advanced manufacturing processes.

These costs are transferred to the consumer, potentially limiting the purchase of premium products to a niche market. For many consumers, especially in economically sensitive times, blankets may be viewed as a long-term purchase, reducing the frequency of repurchases. The need to balance cost and quality poses a substantial challenge to manufacturers aiming to capture wider market segments.

Trade Restrictions and Manufacturing Constraints Restrain Blanket Market Growth

Imposed trade restrictions and manufacturing constraints present considerable limitations to the blanket market's expansion. Tariffs and import quotas can increase the cost of imported raw materials or finished products, while export limits can reduce market access for manufacturers.

These trade barriers affect pricing and availability, leading to potential market shrinkage. Furthermore, manufacturing constraints, whether due to labor shortages, supply chain disruptions, or regulatory policies, can impede production capacity and efficiency. Such common challenges not only increase the costs of blanket production but can also lead to supply-demand imbalances, adversely impacting market growth.

By Material Type

Cotton blankets dominate the material segment of the blanket market. This preference can be attributed to cotton's natural, breathable properties, which offer comfort in various climates. Additionally, cotton's hypoallergenic nature and ease of cleaning make it a staple in households. The growth of this segment is underpinned by the increasing consumer demand for sustainable and organic cotton category products, reflecting the market's shift towards eco-friendly materials.

Demand for wool blankets is valued for their warmth and are often positioned in premium or niche markets focusing on natural fibers. Polyester, known for its durability and resistance to wrinkles and shrinkage, is a popular choice for budget-conscious consumers and in markets with a strong demand for synthetic fibers.

By Product Type

The regular blanket segment holds the largest market share due to its universal use, affordability, and wide range of designs. The versatility of regular blankets in terms of material blends and aesthetic appeal contributes to their dominance.

Electric blankets cater to consumers in colder regions and those seeking therapeutic warmth. With advancements in safety and energy efficiency, this segment is poised for a blanket market growth rate, especially within the health-conscious and elder demographics.

By Application

The household sector is the primary application area for blankets, driven by the essential need for warmth and comfort in residential settings. The demand in this segment is consistent and is further driven by the home décor trends and the desire for seasonal updates.

Hospitals and hotels represent smaller but significant segments. Hospitals require blankets that meet health and sanitation standards, while hotels seek high-quality blankets to enhance guest experience, often opting for luxurious materials.

By Distribution Channel

Hypermarkets and supermarkets are the leading distribution channels for blankets due to their extensive reach and the convenience they offer consumers. The ability to physically evaluate blanket quality drives purchases through these outlets.

E-commerce is rapidly growing, fueled by the rise in online shopping and the convenience of home delivery. Multi-brand stores remain relevant by offering consumers a variety of brands and products under one roof.

The blanket market is characterized by steady demand across its segments, with cotton and regular blankets maintaining their position as market staples in households. Distribution through hypermarkets and supermarkets remains strong, while the e-commerce segment is expanding, reflecting broader retail trends. Each segment is expected to evolve with consumer preferences and technological advancements in blanket manufacturing and materials.

Key Market Segments

By Material Type

• Cotton
• Wool
• Polyester

By Product Type

• Regular Blanket
• Electric Blanket

By Application

• Household
• Hospital
• Hotel

By Distribution Channel

• Hypermarkets/Supermarkets 
• E-Commerce
• Multi-Brand Stores

Growth Opportunities

Increasing Consumer Expenditure Offers Growth Opportunity for Blankets Market

Rising consumer spending is a robust indicator of growth for the blanket market. As disposable incomes increase, consumers are more willing to invest in high-quality home goods, including blankets.

Market analysis suggests a positive correlation between consumer expenditure and the demand for comfort-enhancing items. With global consumer spending on the rise, the blankets market stands to benefit, particularly in segments offering premium and specialized products.

Sustainable Blankets Trend Offers Market Growth Opportunity

The burgeoning popularity of sustainable blankets reflects a significant market opportunity. Environmentally conscious consumers are driving demand for eco-friendly products, and this has extended into home textiles.

The global eco-fiber market is projected to grow, indicating a trend that the blanket industry can capitalize on. Manufacturers who innovate with recycled materials and sustainable practices can capture a growing segment of the market that prioritizes green consumerism.

Technological Innovation Offers Expansion Avenue in Blanket Market

Technological innovation in textiles presents new growth possibilities for the blanket market. Advancements such as temperature regulation, smart connectivity, and enhanced fabric durability attract consumers seeking comfort combined with technology. Such innovations can increase market penetration, especially among tech-savvy and health-conscious consumers. As smart home trends continue to rise, technology-infused blankets could see substantial market growth.

Rapid Urbanization Catalyzes Growth in Blanket Industry

The pace of urbanization has a direct impact on the blanket market, particularly as urban households have different consumption patterns and lifestyle demands compared to rural ones. Urbanization often leads to an increase in living standards and a heightened focus on comfort, thus potentially increasing the demand for blankets.

The trend toward apartment living can also influence the design and size preferences for blankets, providing an opportunity for market players to innovate and meet these specific urban needs.

Regional Analysis

North America Dominates with 30.00%  in the Blanket Market Share

North America maintains a solid 30.00% stake in the global blanket market, a figure that underscores the region's robust consumer spending power and the high demand for home textiles. The key factors contributing to this blanket market share include a strong retail sector, high levels of disposable income, and the presence of numerous established home furnishing brands. Additionally, the region experiences extremely cold weather conditions, particularly harsh winters, which increase the demand for blankets.

The Blanket Market dynamics are also shaped by North American consumers’ preference for premium quality and eco-friendly materials, leading to a diverse range of products, from demand For luxury electric blankets to organic cotton weaves. Innovations in material technology and design have also helped sustain the market growth.

Looking to the future, North America's market presence is likely to continue its dominance, driven by trends in Decorative Blanket and the increasing importance of ethical consumerism. The rise of e-commerce will further bolster blanket sales as consumers enjoy the convenience of online shopping.

Europe: A Steady Contender in the Blanket Market

Europe holds a significant position in the blanket market, characterized by a preference for luxury and heritage textiles. European consumers have a penchant for high-quality, artisanal products, which is reflected in the market's composition, with numerous luxury brands originating from this region.

The market is influenced by Europe's strong tradition of textile craftsmanship, which appeals to both domestic and international consumers. Additionally, sustainability and ethical production are increasingly important to European consumers, influencing purchasing decisions and driving innovation in blanket production.

Asia-Pacific: An Expanding Frontier in the Blanket Market

The Asia-Pacific region is rapidly expanding its footprint in the blanket market, driven by its large population and growing middle class. The increasing purchasing power in countries like China and India is a significant factor, as more consumers seek out home comforts, including quality bedding products.

Manufacturing capabilities in the region provide a competitive edge, with many companies able to produce high volumes at competitive prices. This positions Asia-Pacific (Apac) as a significant exporter as well as a substantial consumer market.

Blanket Industry by Region

North America

• The US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherlands
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of the Middle East & Africa

Key Player Overview: Blanket Market

In the blanket market competitive landscape is shaped by a blend of traditional craftsmanship and modern innovation. Pendleton Woolen Mills, Inc. and Faribault Woolen Mills, Inc. are distinguished for their heritage-rich, high-quality woolen products, commanding loyalty and setting the standard for premium segments. Biddeford Blankets, LLC, Chellco Industries Limited, and Beurer GmbH have carved out significant market influence with their technological integration, leading the electric and heated blanket niche with advancements in comfort and energy efficiency.

Kanata Blanket Company and American Blanket Company are recognized for their focus on customization and diverse product range, addressing the market's demand for personalized home textiles. Woolrich, Inc. leverages its historical brand reputation and robust distribution to remain a preferred choice among consumers. Cuddledown, Inc. and URBANARA GmbH cater to the luxury market with high-end down and natural fiber offerings, emphasizing sustainable and ethical sourcing.

Companies like Morphy Richards Ltd. and Medline Industries, Inc. extend their influence through product diversification, integrating health and wellness into their product development strategies. Amritsar Swadeshi Textile Corporation Pvt. Ltd., Beurer GmbH, and Youngman Woollen Mills Private Limited are pivotal in driving the market within the Asian region with their cost-effective and culturally resonant products.

Collectively, these key players are propelling the blanket market toward a future where tradition meets innovation, and where the emphasis on sustainability, health, and personalized comfort speaks directly to evolving consumer preferences.

Major Companies in the Blanket Market

• Pendleton Woolen Mills, Inc.
• Biddeford Blankets, LLC
• Kanata Blanket Company
• Boll & Branch LLC
• American Blanket Company
• Faribault Woolen Mills, Inc.
• Beurer GmbH
• Woolrich, Inc.
• Cuddledown, Inc.
• Morphy Richards Ltd.
• Amritsar Swadeshi Textile Corporation Pvt. Ltd.
• Hudson's Bay Company
• URBANARA GmbH
• Shanghai Easun Group
• Medline Industries, Inc.
• Chellco Industries Limited
• Biddeford Blankets, LLC
• Youngman Woollen Mills Private Limite
• Silentnight Group Limited
• Barker Textiles UAB

Recent Developments

• In October 2023, Trust Housing, a housing association with a base in North Lanarkshire, secured £120,000 in funding to support residents through the winter.
• In October 2023, Jess Gavin, the homewares senior buyer at Myer, discusses the latest cooling technology in blankets designed to reduce body temperature and improve sleep quality.
• In September 2023, National Blankets is targeting to produce about one million superior quality blankets per annum for the local and export markets. The company's operations are on hold, awaiting funding through the Special Drawing Rights (SDRs) to acquire raw materials for production.
• In September 2023, Zimbabwe received an allocation of SDR 677 million (equivalent to US$958 million) from the International Monetary Fund (IMF), and part of these funds was directed towards supporting key value chains, including the textile industry.

Report Scope