Electric Blankets Market Size to Expand At 6.9% CAGR Through 2028

Electric Blankets Market Size to Expand At 6.9% CAGR Through 2028
4 min read
27 December 2022

The scope of "The Insight Partners" recent study on “The global Electric Blankets Market Forecast to 2028 – COVID-19 Impact and Global Analysis –By Size (Single, Double, and Others), Type (Electric Under Blankets and Electric Over Blankets), and  Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. The report also identifies significant market players and their key developments.

The electric blankets market was valued at US$ 812.94 million in 2021 and is projected to reach US$ 1,294.62 million by 2028; it is expected to grow at a CAGR of 6.9% from 2021 to 2028. Growing demand for winter products among individuals across the country due to rising climate change, increasing E-commerce industry, and rising disposable income of individuals are the major factors driving the growth of the electric blankets market. Electric blankets have multiple settings and can adjust the heat according to the customer's need. Some electric blankets even offer dual heating with two remote controls for two sleeping partners. Furthermore, brands operating in the winter products market are using new technologies and materials to create new winter products. Further, major established and new players in the current winter products market outlook are investing resources in product development activities.

The leading global electric blanket market players include Beurer GmbH, Morphy Richards, Biddeford Blankets LLC, Slumberdown Company, Silentnight Group Limited, Glen Dimplex, Sunbeam Products Inc., Bedshe International Co., LTD, Shavel Associates Inc., and Odessey Products. These players are focused on strategies such as research and development and new product development to increase the geographical presence and consumer base globally.

Based on type, the electric blankets market is segmented into electric under blankets and electric over blankets. The electric under blankets segment held the largest share of the market in 2020. Electric blankets are gaining maximum attention among consumers due to various benefits, such as allowing consumers to access multiple features and delivering maximum comfort. Further, Beurer GmbH offers electric blankets with various features such as three temperature settings, a beurer safety system (BSS), a removable switch, and many more. In addition, it is available with a feature of temperature regulation, which allows switching between three heat temperature settings according to the customer's comfort. Also, the material is a breathable microfleece that is warm and cozy.

The global electric blankets market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. In 2020, North America held the largest revenue share of the market. The rising presence of extreme cold weather conditions across the country during the winter season and the necessity to keep the human body warm are major factors driving the growth of the global electric blankets blanket market. Furthermore, the growth of e-commerce and the expansion of the online retailing industry are impacting the demand for electric blankets. Further, the growing application of blankets in the commercial sectors, including travel and hospitality, military and defense, and charity, positively impacts the growth of the electric blankets market.

The impact of lockdown in the Middle Eastern and African countries led to the closure of various manufacturing companies related to consumer goods, thereby leading to the reduction in the manufacturing of electric blankets. However, consumers across the region increased online shopping during the COVID-19 pandemic. Consumers in Saudi Arabia and the UAE have seen the highest rates of users in online deliveries and communications. Thus, due to the COVID-19 pandemic, the consumers increased their usage of e-commerce platforms, and the presence of e-commerce sites specifically providing electric blankets created a positive impact on the growth of the electrics blankets market.

Read More: https://www.theinsightpartners.com/reports/electric-blankets-market

Arianna 3
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