6th December, 2018- Blanket Market is subject to witness a substantial growth due to the growing consumer awareness, wide range of prices and design available in the market. Introduction of electric blankets are expected to attract more customers, thus boosting overall sale of the product.
Increase in number of advantages associated with the product coupled with growing population are some of key driving factors for the sustained growth of market, in the recent years. Globally, the market is predicted to generate massive revenue over the next seven years, providing numerous opportunities for market players to invest for further development in the blanket market.
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Increase in spending by consumers and improved living standards in both developing and underdeveloped economies across the globe are expected to favor market growth over the forecast period. Blanket provides necessary warmth, particularly in the winter, and are properly insulated. Introduction of electric blanket is gaining wide recognition in the Asia Pacific and North America region, thus expanding overall market reach of the blanket industry. Increasing consumer preference towards electric blanket is attributed to the numerous benefits that allow consumers to access multiple features and deliver maximum comfort.
Increasing investment by international manufacturers has led to development of innovative features such as waterproof blankets; battery-powered blankets that consists of mobile chargeable sockets are expected to offer lucrative growth opportunities in upcoming years. Addition of lightweight, durable, machine washable and water resistant blanket are estimated to drive more consumer in the near future as well.
major segments based on the product type such as woven acrylic blankets, knitted polyester blanket, cotton blanket, electric cotton blanket, and wool blanket. The wool blanket is considered as one of the faster growing segment in the blanket market with substantial revenue generation in the last few years. Growing popularity of the wool blanket segment is attributed to its properties. Electric cotton blanket segment also witnesses substantial growth owing to enhanced capacity to control the amount of heat the blanket produces.
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