Blanket Market: Overview

The blanket market gains from demand for blanket from the domestic and hospitality sectors, and is expected to witness continued demand for the 2020 – 2030 forecast period. Monumental growth of the hospitality sector in the past decade has indirectly influenced the growth of blanket market. Blanket is an essential piece of bedding and is needed in every category of hotels in the hospitality sector.

Key parameters based on which the blanket market is divided in this report are product, distribution channel application, and region.

The report on the blanket market provides an in-depth analysis of the said market for the 2020-2030 forecast period. The report covers demand dynamics, growth indices, and opportunities along with growth rate estimations of key segments within each category of the blanket market for the assessment period. A discussion on the competitive landscape, which includes growth strategies and revenue share of key players is a highlight of this report.

Blanket Market: Competitive Landscape

The blanket market is fragmented due to the high concentration of local manufacturers in developing countries such as India and China. Small manufacturers hold sizeable share due to a range of products that are suitable for several climates. Export of products made by small manufacturers helps to expand their share in the blanket market.

Some key manufacturers in the blanket market are American Blanket Company, Chellco Industries Limited, Jindal Woollen Industries Ltd., Prakash Woollen & Synthetic Mills Limited, Youngman Mills Private Limited, Amritsar Swadeshi Textile Corporation Pvt. Ltd., Geetanjali Woollens Pvt. Ltd., Odessey Products, and Qbedding.com.

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Blanket Market: Key Trends

Design innovations and availability of blanket in various grades for warmth has been key behind continual uptick in demand for blankets. Manufacture of blanket using only wool or mixed with other material such as cotton and rayon for different levels of warmth accounts for solid demand for blanket. Consumers can select blanket that serves their need according to the severity of winter and cost factor.

Availability of blanket in a range of designs and patterns is another key factor aiding the growth of blanket market. Designs and patterns for blanket that are presently used are heavily influenced by design software for a modern look. To serve shifting consumer preference for bold, geometric, and asymmetrical patterns, manufacturers now rely on design software for a wide variety of design options.

Over the past few years, changing weather patterns in several parts of the world has expanded the demand for blanket. Unseasonal rains and storms at several places leading to drop in temperature has swelled demand for blanket. This has also magnified the demand for electric blanket.

Blanket Market: Regional Assessment

North America and Europe are leading regions in the blanket market. The geographical location and high altitudes are reason these regions experience harsh winters and extremely low temperatures. Blankets are used several months in a year in most countries in these regions for protection from winter. In addition, vast availability of a range of products via department stores, bedding stores, online sales, and other retail channels enables easy purchase of the product. Consumer mindset for excessive spending on consumer goods is another key factor behind notable growth of blanket market in these regions.

Lastly, strong cotton farming base in countries such as the U.S. garners the interest of industry participants to setup manufacturing units in close proximity. This strengthens the growth of blanket market in North America.

Asia Pacific is another key region in the blanket market. Countries such as Japan, China, and South Korea experience severe winter with very low temperatures during winter months. Such climatic conditions extends solid demand for blankets, thereby fuelling the blanket market.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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