Allied Market Research has recently published a report, titled, “Electric Blanket Market by Material (Polyester, Cotton, Fleece, Faux Fur, Others), by Size (Twin, Full, Queen, King), by Heat Setting (Low, Medium, High), by Distribution Channel (Online, Offline), by End-user (Household, Hotel, Hospital): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global electric blanket market was valued at $496.2 million in 2022, and is projected to reach $1.1 billion by 2032, growing at a CAGR of 8.3% from 2023 to 2032.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/10999
Prime Determinants of Growth
Over the years, there has been an increasing demand for electric blankets, especially during the winter season due to their ability to provide warmth and comfort to the user. This increase in demand is predicted to be one of the important factors driving the growth of the global electric blanket market in the forecast timeframe. However, the safety concerns associated with electric blankets due to electric wires or heating elements may hamper the electric blanket market growth in the coming period. On the contrary, the technological advancements in electric blanket products are expected to offer growth opportunities for the expansion of the electric blanket market in the 2023-2032 forecast period.
Segments covered
Material, Size, Heat Setting, Distribution Channel, End-User, and Region
Drivers
Increasing demand for electric blankets especially during winter season
Various features of electric blankets including the ability to control heat settings
Opportunities
Technological advancements in the electric blanket products
The rising popularity among individuals seeking a cozy and customizable sleeping or relaxation experience
Restraints
Safety concerns due to use of electric wires and heating elements
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Size: Queen Sub-segment Projected to Gather a Huge Revenue During the Forecast Period
The queen sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a high CAGR during the forecast period. Queen size beds are one of the most popular sizes, providing ample space for couples or individuals who prefer extra room while sleeping. As a result, there is a high demand for queen sized electric blankets which is predicted to boost the sub-segment’s growth by 2032.
Material: Polyester Sub-segment Projected to be One of the Most Profitable by 2032
The polyester sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a CAGR of 9.0% in the forecast period. Polyester is a synthetic fiber that is relatively inexpensive compared to natural fibers like wool or cotton. As a result, there is an increasing preference from manufacturers’ side to use polyester for manufacturing of electric blankets which is predicted to boost the sub-segment’s growth by 2032.
Heat Setting: Medium Sub-segment to be Flourish Immensely by 2032
The medium sub-segment generated the highest market share in 2022 and is predicted to grow at a high CAGR of 8.6% by 2032. Medium heat electric blankets provide a comfortable level of warmth that is suitable for a wide range of users. Hence, medium heat electric blankets are one of the most sold and demanded electric blankets which is predicted to boost the sub-segment’s growth by 2032.
Distribution Channel: Offline Sub-segment Projected to be One of the Most Lucrative During the Forecast Period
The offline sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a CAGR of 8.8% during the forecast period. Offline distribution channels provide accessibility to a large customer base, including those who prefer to take a good look at the product before buying it. As a result, there is a growing preference for offline distribution channels which is predicted to boost the sub-segment’s growth by 2032.
End-User: Household Sub-segment Projected to Grow Rapidly by 2032
The household sub-segment accounted for the highest electric blanket market share in 2022 and is expected to grow at a CAGR of 8.7% in the forecast period. An increase in awareness about energy conservation and cost-saving measures has led to growth in demand for electric blankets which is predicted to boost the sub-segment’s growth by 2032.
Region: Europe Market to be One of the Fastest Growing by 2032
The Europe region accounted for the highest share in the global electric blanket market in 2022 and is expected to rise at a CAGR of 9.0% during the forecast period. The growing awareness among consumers in Europe about the benefits of electric blankets including the warmth and comfort that they offer during cold winters has led to an increased adoption and demand. This surge in demand is expected to be the main growth driver of the market in Europe region by 2032.
𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/10999
Leading Players in the Electric Blanket Market:
Newell Brands Inc.
Dreamland
Silentnight
Jarden Corporation
Slumberdown
Lakeland
Beurer
Mylek
Morphy Richards Ltd.
Homefront
Key Findings of the Study
- Based on material, the polyester sub-segment emerged as the global leader in 2022 and is anticipated to be the fastest growing during the forecast period.
- Based on size, the queen sub-segment emerged as the global leader in 2022 and the king is predicted to show the fastest growth in the upcoming years.
- Based on heat setting, the medium sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on distribution channel, the offline sub-segment emerged as the global leader in 2022 and the online is predicted to show the fastest growth in the upcoming years.
- Based on end user, the household sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on region, the Europe market registered the highest market share in 2022 and is projected to maintain its position during the forecast period.
The report provides a detailed analysis of the key players of the global electric blanket market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
