Blanket Market Is Estimated To Reach $23.3 Billion By 2025

The global blanket market size is expected to reach USD 23.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% over the forecast period. Significant growth of the travel and hospitality industries at a global level as a result of reduced airline fares and attractive value-added services provided by key hotel industry participants is expected to remain a prominent factor. Furthermore, rising national defense spending by the governments of countries including U.S., China, Russia, Iran, Israel, India, and Pakistan is expected to promote the use of blankets for military and air force over the next few years.

Cotton-based products dominated the market and generated a revenue of USD 4.6 billion in 2018. These product types are expected to gain momentum as a result of their high visibility as durable comfort characteristics. Furthermore, these textile products have the ability to perform across a wide range of climate conditions.

Since the last few years, some of the celebrities have been launching the products under their name. For instance, in March 2019, Drew Barrymore launched Flower Home, a homeline at Walmart.com. The brand, along with various home related décor and furniture, also offers blankets that are richly layered and cozy. Similarly, in March 2019, the multinational furniture company, Ikea launched the brand Overalt. The brand specifically offers African design decors and furniture. Moreover, Sindhiso Kumhalo and Renée Rossouw have been working on quilt and blanket projects for the launch of products, which are based on African designs.

In May, 2019, natural home goods brand Buffy launched a new product, The Breeze. These temperature regulating comforters are derived from eucalyptus fibers. Shell fabric and the fills are the naturally more breathable as compared to other comforters derived from polyester or animal-based materials. The breathability associated with these product forms ultimately leads to a more regulated temperature during sleep.

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https://www.grandviewresearch.com/industry-analysis/blanket-market

Further key findings from the report suggest:

• By product, cotton accounted for more than 25.0% share in 2018. Polyester is expected to exceed 20.0% share of the global revenue by the end of 2025
• The commercial segment is expected to expand at the fastest CAGR of 4.7% from 2019 to 2025
• North America accounted for a revenue share of over 30.0% in 2018
• Online distribution channel is expected to register the highest CAGR of 5.0% from 2019 to 2025.

For More Information: www.grandviewresearch.com