Electric Blankets Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports

The global electric blankets market is estimated to expand at a CAGR of 6.9% during the forecast period, 2021 – 2028. The growth of the market is attributed to the increasing technological advancements in consumer convenient products across the globe.

Electric Blankets can be warmed before use. They are usually preferred in countries that have long and harsh winters. These blankets are less expensive than heaters. Washable and portable electric blankets are the latest developments of the market. Rising demand for convenient and warm sleeping experience in winters is expected to drive the market growth. Moreover, establishment of stain-resistant, water-proof, mobile chargeable, battery-powered, and light-weight products are expected to rise the product demand around the world.

Leading manufacturers are focusing on adopting latest technologies in electric blankets such as deploying well-insulated sheets lined with thick fleece to provide required warmth and natural insulation. Moreover, these products are washable and portable. For instance, Medisana HDW announced the launch of a blanket that is machine washable and is made out of microfiber fleece. It has been provided with four stages of heat settings for better heat control.

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Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for energy efficient products is driving the market growth.
• Electric blankets are generally used in winters only. Thus, seasonality of electric blanket is expected to restrain the market growth.
• Low-frequency electromagnetic fields produced by this device can be harmful to the fetus. Thus, the safety concerns regarding the blanket is a major factor impeding the market growth.
• Growing awareness about the benefits of these products such as relief from muscle pain and sinus is driving the market growth.
• Affordability, comfort, and convenience are the key factors spurring the growth of electronic blankets market.

Electric Blankets Market Segment Insights

Offline segment to account for a significant market share.

Based on distribution channels, the market is segmented into offline and online. The offline segment is expected to witness an impressive growth rate owing to the increasing product visibility and presence of the products in brick and mortar stores. Additionally, easy availability of these products is expected to fuel the segment growth. However, the online segment is anticipated to register a substantial CAGR owing to the growing inclination of consumers toward online shopping.

Household segment anticipated to account for a considerable market share.

On the basis of end users, the market is bifurcated into hotels, hospitals and households. In 2020, the households segment accounted for a key share of the market owing to increasing disposable income along with the rise in the home ownership across the globe. The introduction of technologically advanced convenient consumer products and improving lifestyle of people are expected to drive the segment growth during the forecast period. Moreover, inclining consumer preference of various age groups for the product owing to affordability, comfort, and benefits is driving the market segment growth.

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Regional Outlook

In terms of regions, the market is classified into Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The market in North America is expected to register a CAGR of 7.3% owing to the consumer preference for heating devices that inculcates comfort during harsh winters. Growing demand for various flexible heating products is attributed to the weather conditions in the region.

The market in Asia pacific is estimated to witness a substantial growth rate owing to the increasing use and availability of electric blankets in emerging economies.

Competitive Landscape

Some of the leading manufacturers in the global electric blankets market are Jarden Corporation, Shanghai Shenda Co. Ltd., Morphy Richards Ltd., Snugnights UK LLP, Beurer GmbH, Caiyang Slumberdown, Shijiazhuang Mengjie Industry Co. Ltd. Silentnight Group Ltd and Medisana HDW.

Manufacturers are focusing on development of safer and innovative heating products to serve the consumer needs. Increasing safety concerns has led to growing investment in R&D activities, which is expected to help the companies to expand their market share.

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