Bizizz Market Research has recently published a research report, “Blankets Market By Product Type (Regular Blanket and Electric Blanket), Material type (Cotton, Polyester and Wool), End-User (residential and commercial) Distribution channel (Online Stores, Hypermarkets/Supermarkets, Speciality Stores, Multibrand Stores and Independent Retail Stores), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Blankets Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 2.3 Bn by 2027, witnessing a CAGR of 5.4 % during the forecast period. Key drivers of the market are changes in climatic conditions and health benefits associated with blankets is stimulating its demand.
The market of blankets is highly profitable by continuous fluctuations of climatic conditions are irregularities. Such environmental changes are driving the market of blankets. Moreover, an increase in the demand from the customers for the blankets are propelling the growth of blankets in the recent years. Additionally, the blanket has some health benefits including improving mood, increased sound sleep and maintenance of the body temperature is plunging its demand.
The Blankets market is anticipated to register a CAGR of over 15% during the forecast period.
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By Product, Regular blanket segment held a key share in Global Blankets Market in 2018.
The market of blankets is led by regular blankets globally because of its wide usage in most of the climatic conditions. As regular blankets caters to the most of the population needs globally at normal temperatures is contributing to its market demand. These regular blankets are capable of satisfying most of the customers’ requirements the demand for them is high.
North America is Anticipated to Dominate the Global Blankets Market during the Forecast Period
The contribution of the blankets in the North American region is significant to the population by the existence of extreme temperature and environmental conditions. These blankets supports the customers in managing the temperature and improve their health conditions in extreme temperatures. Moreover the manufacturers are offering advanced type of blankets that shall cater to the needs of customers in this region and comply with the temperature extremities.
Global Blankets market was highly fragmented among the number of local and global players. This has increased the competition among the customers who offer variety of blankets to the wide range of customers in the global market. These manufacturers are catering innovative blankets to the customers in order to cater the needs of customers during extreme climatic conditions are creating competitive edge.
Prominent players operating in the Global Blankets Market are Morphy Richards Ltd , American Blanket Company, Hudson’s Bay Company, Pendleton Woolen Mills, The Bombay Dyeing, Kanata Blanket Company, Shanghai Easun Group, Faribault Woolen Mill Company, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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