“Global Electric Blanket Market to reach a market value of 1.5 Billion by 2031 growing at a CAGR of 6.8%”
The Global Electric Blanket Market size is expected to reach $1.5 billion by 2031, rising at a market growth of 6.8% CAGR during the forecast period.
Polyester is often more affordable compared to natural fibers like wool or cotton. This cost-effectiveness makes polyester electric blankets accessible to a broader range of consumers while providing comfort and functionality. Polyester is known for its durability and resistance to wear and tear. Polyester electric blankets are durable and can endure frequent use and washing while retaining their quality. This durability enhances their appeal as a long-term investment. Thus, the polyester segment recorded 34% revenue share in the electric blanket market in 2023.
Smart electric blankets offering programmable timers, adjustable heat settings, and remote operation cater to this demand, making them more attractive to tech-savvy consumers. Smart home devices offer a high level of customization and personalization. Electric blankets with smart features can provide personalized heating experiences based on individual preferences, contributing to their popularity among consumers who value tailored comfort solutions. Additionally, this trend leads to frequent upgrades as people look to improve their current electric blankets with the latest technology and features. In conclusion, increased disposable income is driving the growth of the market.
However, the high initial cost can limit market penetration, especially in developing or emerging markets where consumers may have lower disposable incomes. In these regions, affordability is crucial, and high-priced products may struggle to gain traction. In conclusion, the high initial cost of electric blankets impedes the market's growth.
Based on size, the market is divided into twin, full, queen, and king. The king segment attained 24% revenue share in the market in 2023. As larger beds, such as king-size, become more popular in households, the demand for king-size electric blankets naturally increases.
On the basis of material, the market is segmented into polyester, cotton, fleece, faux fur, and others. The fleece segment held 19% revenue share in the market in 2023. Fleece is known for its excellent insulating properties. It retains heat effectively, providing consistent warmth even in colder climates.
Based on distribution channel, the market is categorized into online and offline. In 2023, the offline segment registered 81% revenue share in the market. Shoppers can touch and feel the electric blankets in-store, assessing their softness, material quality, and overall comfort.
By heat setting, the market is divided into low, medium, and high. The low segment procured 28% revenue share in the market in 2023. Low heat settings help prevent overheating, a common concern with higher heat settings. This is especially important for users who tend to get too warm at night or have conditions that make them more susceptible to heat-related discomfort.
Based on end-users, the market is divided into households, hotels, and hospitals. The household segment attained 52% revenue share in the market in 2023. Electric blankets become essential for maintaining a warm and comfortable sleeping environment during colder months.
Free Valuable Insights: Global Electric Blanket Market size to reach USD 1.5 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region generated.31% revenue share in the market. North America, particularly regions like the northeastern U.S. and Canada, experiences harsh and prolonged winter seasons.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 896.3 Million |
| Market size forecast in 2031 | USD 1.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.8% from 2024 to 2031 |
| Number of Pages | 285 |
| Tables | 550 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Material, Size, Heat Setting, Distribution Channel, End User, Region |
| Country scope |
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| Companies Included | Beurer GmBH, Silentnight Group Limited, Morphy Richards Ltd., Dreamland, Homefront, Lakeland Industries Inc., Newell Brands, Inc., Slumberdown, Mylek and Faribault Woolen Mill |
By Distribution Channel
By Heat Setting
By End-user
By Size
By Material
By Geography
This Market size is expected to reach $1.5 billion by 2031.
Growing demand for smart home devices are driving the Market in coming years, however, High initial cost of electric blanket restraints the growth of the Market.
Beurer GmBH, Silentnight Group Limited, Morphy Richards Ltd., Dreamland, Homefront, Lakeland Industries Inc., Newell Brands, Inc., Slumberdown, Mylek and Faribault Woolen Mill
The expected CAGR of this Market is 6.8% from 2024 to 2031.
The Medium segment is leading the Market by Heat Setting in 2023; thereby, achieving a market value of $792.1 million by 2031.
The Europe region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $503.7 million by 2031.
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