Market Forecast
Global Blanket Market Forecast size is projected to be valued at USD 9.7 Billion by 2027 at a CAGR of 4.2% between 2020 and 2027. A blanket is a piece of soft cloth to enfold the portion of the user's body. It has been majorly preferred for military purposes for a long time ago. Manufacturers have also launched special blankets for children that protect them from the cold. The Blanket Market Forecast has registered tremendous growth in the past few years, and the same trend is expected to continue during the forecast period. Additionally, North America and Asia Pacific markets are witnessing the growing demand for blankets among the consumers. The key players in the market have been responsive to shifting consumer preferences and are focused on strategic acquisitions, product launches, and partnerships. For instance, in March 2020, Brooklinen announced the product launch of a weighted comforter blanket. Investment in the market is projected to have a significant impact on the Blanket Market Forecast size during the forecast period. All the factors are anticipated to create substantial growth opportunities for the global Blanket Market Forecast
Market USP
Consumer preference for sustainable branded blankets
Growth Opportunities in the Market
Increase in demand for woolen blankets: Increase in demand for a modern blanket that carries comfort is driving the demand for woolen blankets among the consumers. The blankets keep the body warm in the snowy winter season, which is driving the growth of the woolen Blanket Market Forecast among consumers.
Increase in demand for blankets in household applications: The household segment is projected to be the fastest-growing segment during the forecast period. Increase in demand for blankets by small children and adults according to change in weather climate is driving the market growth in household applications. Manufacturers have also introduced polyester blankets, which are highly durable and withstand wear and tear.
Non-Store-Based Distribution Channels Gaining Popularity Across the Globe: The non-store-based segment is projected to register a higher growth rate during the forecast period. Manufacturers of blankets are inclined toward non-store-based distribution channels for the sale of their products. Companies are opting for online distribution platforms as they extend their consumer reach.
Key Players
- American Blanket Company (US)
- Pendleton Woolen Mills (US)
- Hudson's Bay Company (Canada)
- Boll Branch (US)
- URBANARA GmbH (Germany)
- Shanghai Easun Group (China)
- Medline Industries, Inc. (US)
- Chellco Industries Limited (Nigeria)
- Biddeford Blankets, LLC (US)
- Youngman Woollen Mills Private Limited (India)
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