Plush Blankets Market: Introduction
A plush blanket refers to a blanket with a rich fabric and a long, soft nap. Apart from its natural beauty and rich feel, plush blankets provide warmth to the user. The raised nature of a plush blanket creates a layer of air between the user and the core of the blanket fabric. As one’s body generates heat while sleeping, it circulates between the layer of plush fibers and helps retain core body temperature.
Key Drivers of the Plush Blankets Market
Increasing inclination for luxury blankets as a result of higher usage of low-weight blankets among users has been driving the market. Growth of the hospitality sector, rapid urbanization, and changing lifestyles have led to penetration of fancy and soft fabric-based bedding products, thereby boosting the use of plush blankets in the commercial sector across the globe. Rising consumer spending on comfort and relaxation due to better lifestyles, particularly among generation X, Y, and Z, is generating more demand for softer and luxury bedding products, such as plush blankets.
Improved Features Creating Opportunities in the Plush Blankets Market
Manufacturers keep improving their products so as to cater to a larger customer base. New advancements in fabric, along with product launches, are increasing consumers demand for these products. For instance, in June 2019, Decora Home introduced Decora Home Soft, a Super Plush Pattern Block Throw, which makes a perfect soft throw blanket for snuggling on the couch, bed, theatre, or park. In addition, fluctuating weather patterns have been shifting the purpose of using blankets for specific winter months to all year round. Increasing fusion of plush soft and lightweight material, and providing exact warmth and heat, have created new opportunities for the plush blankets market.
Suffocating Effect a Restraint of the Plush Blankets Market
One of the restraints of plush blankets is its suffocating effect. While blankets, pillows, and quilts provide a cozy bed for an adult, they can be dangerous in an infant's crib. The American Academy of Pediatrics says parents should keep soft objects and loose bedding away from infants as they can accidently lead to suffocation. Moreover, bedding has been associated with sudden infant death syndrome, the leading cause of death for infants 1 month to 1 year old. These factors acts as restraints of the plush blankets market.
North America the Dominant Market
North America accounts for highest share in the plush blankets market in terms of revenue contribution as compared to markets in other regions due to increased spending on residential renovations and repairs by Americans, which is enhancing the usage of high-end bedding products. According to ‘Improving America’s Housing 2019,’ a new report released by the Harvard Joint Center for Housing Studies (JCHS), the home remodeling market in the U.S. expanded by more than 50% post the end of the recession period. The emergence of weighted blankets with plush fabrics is contributing to the significant growth of the market in the region. According to a blog by The New Yorker, in 2018, 70% of Americans saw trouble sleeping at least once a week. In addition, according to the blog, 40 million Americans suffer from prolonged anxiety. Plush weighted blankets help to increase serotonin and melatonin levels and lessen the stress hormone while putting the person in a deeper sleep. These factors are expected to propel growth of the plush blankets market in the region.
Key Players Operating in the Global Market
Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Some of the major companies identified in the plush blankets market are:
- Berkshire Blanket & Home Co.
- American Blanket Company
- Sunbeam Products, Inc.
- Plush Addict Ltd.
Plush Blankets Market: Research Scope
Plush Blankets Market, by Application
Plush Blankets Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the plush blankets market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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
- 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.