Blanket Market: Global Industry Analysis and Forecast (2024-2030)

Blanket Market Overview

The SMR report explores the evolving blanket industry, exploring factors like consumer preferences, technology, and economic shifts driving its evolution. Also, the report covers the key market drivers such as consumer demand for comfort, technological innovations, rising disposable incomes, and growing awareness of health benefits. These insights provide a comprehensive understanding of the blanket market's dynamics, offering valuable insights for stakeholders navigating its trajectory. Increasing consumer awareness of sleep quality and relaxation drives demand for high-quality blankets offering comfort and therapeutic benefits. Technological innovations in textile technology, like moisture-wicking fabrics and temperature-regulating fibers, enhance blanket design for improved comfort. Rising disposable income in emerging markets prioritizes home comfort items, increasing spending on premium blankets. E-commerce growth broadens market reach, enabling blanket manufacturers to target global markets and niche consumer segments. Sustainability trends drive demand for eco-friendly blankets, spurring investment in green manufacturing processes and recyclable fibers to meet the growing environmental consciousness among consumers.

 

 

Investing in research and development drives product innovation, and provides to the evolving consumer preferences for comfort, sustainability, and wellness. Market growth strategies involve broadening distribution channels and entering new geographic markets through partnerships, acquisitions, or e-commerce platforms to tap into growing global demand. Brand-building efforts focus on marketing campaigns to establish brand recognition and consumer trust, focusing on quality, sustainability, and technological features. Supply chain optimization initiatives streamline manufacturing processes, cut production costs, and ensure prompt blanket delivery to meet market demand efficiently. Diversifying the product portfolio with luxury, weighted, and baby blankets targets diverse consumer segments, enhancing market share.

 

 

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Blanket Market Dynamics

Sustainable Materials

 

The blanket market is witnessing a significant shift driven by growing consumer eco-consciousness. Demand is rising for blankets crafted from sustainable sources like organic cotton, bamboo, and recycled fibers. The trend comes from heightened awareness of the environmental impact of conventional textile production, including water usage and pesticide use. Additionally, health concerns regarding synthetic materials and chemical treatments are encouraging consumers to seek healthier alternatives. Also, there's a rising demand for transparency and ethical practices in production, with sustainable materials often aligning with these values, resonating strongly with today's mindful consumers. Blanket manufacturers are innovating with sustainable materials, expanding product variety to meet eco-friendly demand. The trend promotes brand differentiation, allowing sustainability-focused brands to stand out and appeal to environmentally conscious consumers seeking responsible choices.

 

 

Price Volatility of Raw Materials

 

The price of raw materials used in blanket production, such as cotton, wool, and synthetic fibers, can be volatile due to factors like weather conditions, geopolitical tensions, and fluctuations in currency exchange rates. The volatility affects production costs and profit margins for blanket manufacturers. Manufacturers face challenges in maintaining consistent blanket prices due to fluctuating raw material costs, potentially confusing consumers. Rising material prices are expected to shrink profit margins if blanket prices cannot be adjusted accordingly. These dynamics underscore the complexities of managing production costs, pricing strategies, and inventory effectively in the blanket industry, demanding careful planning and adaptation to market conditions.

 

Volatility in cotton prices significantly impacts the production costs of blankets, a prominent consumer product heavily reliant on cotton fibers. Cotton is a vital commodity traded on both the New York Mercantile Exchange and the Chicago Mercantile Exchange, and features contracts sized at 50,000 pounds each. The global landscape of cotton production is dominated by China and India, with the United States, Pakistan, Brazil, Australia, and Uzbekistan also playing significant roles. Notably, the United States and Brazil emerged as the largest cotton exporters, accounting for more than half of the world's supply. Manufacturers in the blanket market face challenges in maintaining consistent pricing due to unpredictable raw material costs. Fluctuations in cotton prices directly influence the cost of manufacturing cotton-based blankets, thereby affecting profit margins and pricing strategies. Also, uncertainties in cotton prices can lead to inventory management challenges, as manufacturers may struggle to predict and manage material costs effectively. The growth of the blanket market is intricately linked to the stability and affordability of raw materials like cotton. Price volatility in cotton impacts market growth by influencing production costs, pricing strategies, and overall consumer demand for blankets. As such, market participants closely monitor cotton price trends and adapt their strategies accordingly to navigate the dynamic landscape of the blanket industry.

 

Blanket Market Segment Analysis

 

By Material Type, Cotton blankets dominate the global market, capturing the largest segment share. It implies that among all types of blankets available, cotton blankets constitute the largest portion of sales and consumer preference. The significant segment share underscores cotton's widespread popularity and its appeal to a broad spectrum of consumers. The impact of cotton's segment share on the market is substantial. Cotton is favored for its breathability, affordability, and natural feel, making it a preferred choice for many consumers. Its versatility provides diverse needs, particularly for those seeking lightweight summer blankets and hypoallergenic options. As a result, cotton blankets have broad acceptance and usage across various demographics and geographical regions. Cotton production is known to be water-intensive, which raises concerns about its environmental impact, especially in regions where water scarcity is a significant issue. Also, some consumers perceive cotton as less durable compared to synthetic materials, potentially affecting their purchasing decisions.

 

 

• Since January 2024, cotton prices have risen significantly, experiencing a remarkable increase of over 15% in the global market and an even more substantial rise of over 75% in the domestic market. The sudden escalation, particularly notable with a surge of 10-12% in the last 15 days alone, has sparked a panic situation across the entire value chain of the cotton industry. Such drastic price variations in cotton have profound implications for the blanket market. Such as the rise in cotton prices directly impacts the production costs of cotton-based blankets, as cotton is one of the primary raw materials used in their manufacturing. Manufacturers face challenges in maintaining consistent pricing for blankets amidst soaring raw material costs, potentially leading to price adjustments that are expected to discourage consumers and squeeze profit margins.

 

Blanket Market Regional Analysis

 

The North American blanket market holds prominence globally, spurred by several key factors such as Favourable climates in Canada and select US regions generating year-round demand for blankets. Additionally, the region boasts high disposable income levels among consumers, facilitating increased spending on home comfort essentials such as blankets. Furthermore, evolving consumer preferences for sustainable materials, along with the popularity of innovative features like weighted blankets and luxury fabrics, shape market dynamics. These trends underscore North America's significant role in the global blanket industry, highlighting the interplay between climate, consumer behavior, and market evolution. Online blanket sales in North America have risen in recent years, with projections indicating they exceed 30% of the total US market by 2030. Additionally, weighted blankets, renowned for their therapeutic advantages, have witnessed a remarkable rise in demand. According to SMR analysis, the US market for weighted blankets expanded by more than 40% from 2018 to 2023. The North American blanket market expects sustained growth, driven by rising demand for a wide array of blanket varieties. Manufacturers in the region lead the charge in innovating blanket technologies and materials, aligning with shifting consumer tastes. Concurrently, robust competition characterizes the market, pitting established brands against emerging players targeting specialized segments such as luxury or performance blankets. The landscape underscores a dynamic industry poised for expansion, driven by continuous product advancements, consumer-driven innovation, and the perpetual quest for market differentiation amidst fierce competition in North America's growing blanket market.

 

Blanket Market Competitive Landscape

 

In response to emerging Direct-to-Consumer (DTC) brands, online start-ups offer distinct designs, sustainable materials, and personalized customer experiences. Meanwhile, small-batch artisanal brands cater to niche markets, underscoring handcrafted, and premium-quality blankets often sourced from local or organic materials. Competition stimulates product innovation as manufacturers strive to introduce new features, materials, and designs, enriching consumer choice. However, intensified competition triggers price wars, potentially favoring budget-conscious consumers while pressuring profit margins. Moreover, heightened environmental awareness spurs companies to embrace sustainability, driven by competitive pressures, thereby raising positive impacts on the environment amidst the competitive landscape of the blanket industry.

1. 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.
2. 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.
3. 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.
4. In July 2021, Bearaby introduced Travel Napper, a weighted travel blanket that can be carried while traveling. The 10lb travel blanket is suitable to carry while moving with flights, trains, and other public transportation.

 

Blanket Market Scope
Market Size in 2023	USD 15.07 Bn.
Market Size in 2030	USD 23.34 Bn.
CAGR (2024-2030)	6.45%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Analysis	By Material Type Wool Polyester Cotton
	By Application Household Commercial
	By Distribution Channel Online Offline
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Key Player in the Blanket Market

1. Pendleton Woolen Mills, Inc.
2. Biddeford Blankets, LLC
3. Kanata Blanket Company
4. Boll & Branch LLC
5. American Blanket Company
6. Faribault Woolen Mills, Inc.
7. Beurer GmbH
8. Woolrich, Inc.
9. Cuddledown, Inc.
10. Morphy Richards Ltd.
11. Amritsar Swadeshi Textile Corporation Pvt. Ltd.
12. URBANARA GmbH
13. Shanghai Easun Group
14. Medline Industries, Inc.
15. Chellco Industries Limited
16. Biddeford Blankets, LLC
17. Youngman Woollen Mills Private Limite
18. Silentnight Group Limited
19. Barker Textiles UAB
20. Jindal Textile
21. Arihant Handloom Industries
22. Brandonn.
23. XXX Inc