Global Woolen Blanket Market Report, Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2019 – 2028
Global woolen blanket market is expected to register significant CAGR of XX% over the forecast period. The target market is estimated to be valued at US$ XX Mn in 2019 and is projected to reach a value of US$ XX Mn in 2028. The global woolen blanket market report has been segmented on the basis of product type, end-use, application, and region.
Woolen Blankets: Product Overview
Woolen blankets are woven large pieces of sheets made up of woolen fiber that are used for protecting human body and to keep it warm in cold and snowy weather conditions. Wool, a naturally available fiber, has a key property to provide instant warmth. Woolen blankets are easy to clean, highly durable, flexible, hypoallergenic which means it prevents growth of dust mites on it, and flame resistant. These features of woolen blankets make them popular and are highly adopted for applications in households, public transport such as outstation buses and trains, airplanes, commercial buildings such as hospitals, hotels, offices, among various other places.
Market Dynamics: Driving and Challenging Factors
Presence of extreme cold weather conditions across the globe during winter season, and necessity to keep human body warm in snowy regions are major factors driving growth of the global woolen blanket market. In addition, rising trend of centralized air conditioners in outstation busses, certain train compartments, and airplanes, coupled with prevalence of cold and cough, fever, asthma, and musculoskeletal diseases and disorders have resulted in need for warm and cozy woolen blankets for use in outstation public transportation to maintain body temperature.
Moreover, need for air-conditioned wards in hospitals such as ICU and private wards in order to avoid any infectious organisms to affect patients’ health is another major factor driving need for woolen blankets to balance patients’ body temperature. This is in turn expected to drive growth of the global market.
Rapidly increasing hospitality sector, and global tourism due to various reasons are expected to further support growth of the global woolen blanket market to a significant extent. Furthermore, rising trend of organic woolen blankets manufactured through ethical processes, coupled with increasing spending capacity of individuals are expected to result in higher demand for products and are expected to fuel growth of the target market.
However, availability of substitutes at reasonable rates such as knitted polyester blankets, mink material blankets, or blankets made using acrylic, cotton, or fleece materials could hamper revenue growth of the target market. In addition, and no demand from hot-weathered regions and presence of hot weather season for most of the time in a year in certain tropical countries are other key factors that could challenge growth of the global woolen blanket market to a certain extent.
Analysis by Segments
By Product Type:
Among the product type segments, the pure wool segment is expected to dominate in the target market, and is expected to register the higher CAGR in terms of revenue as compared to other segments over the forecast period. Pure wool blankets are made up of 100% virgin wool which makes them light. These woolen blankets are available in various colors and sizes and need minimum maintenance.
By End-use Application:
Among end-use application segments, the household use segment is expected to account for major revenue share in the global woolen blanket market in the next 10 years, owing to increasing need for woolen blankets to keep body warm in cold weather.
The Asia Pacific market is expected to register significant growth rate in terms of revenue in the global woolen blanket market over the forecast period. This can be attributable to increasing demand for pure woolen blankets as a symbol of prestige, presence of large number of manufacturers in countries such as China, India, Australia and New Zealand in the region, presence of cold weather conditions, and higher spending capacity. In addition, growing hospitality and medical tourism sectors is another major factor expected to drive revenue growth of the Asia Pacific market.
The North America and Europe woolen blanket markets are projected to register considerable growth rate over the next 10 years. This can be attributable to increasing need for woolen blankets by individuals living in snowy and windy locations and rising demand for organic-certified blankets in developed countries such as the US and the UK.
Global Woolen Blanket Market Segmentation
Segmentation, by Product Type:
- Pure Wool
- Wool blends
Segmentation, by End-Use Application:
Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2017 Estimated Year 2018 Forecast Period 2018–2028 Revenue in US$
- The Wool Company
- The Tartan Blanket Co.
- New Zealand Wool Blankets Ltd
- Johnstons of Elgin
- Land’s End
- AUMORE WOOL PTY LTD
- Faribault Woolen Mill Co.
- Barker textiles
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