Pune, India, July 31, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Electric Blankets Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Size, Type, Distribution Channel, and Geography,” the electric blankets market is expected to grow from $ 812.94 million in 2021 to $ 1,294.62 million by 2028; it is estimated 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.
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Electric Blankets Market: Competitive Landscape
A few key players operating in the electric blankets market include Silentnight Group Limited; Morphy Richards; Slumberdown Company; Beurer GmbH; Glen Dimplex; Sunbeam Products, Inc.; Biddeford Blankets LLC; Bedshe International Co., LTD; Shavel Associates Inc.; and Odessey Products.
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 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.
Increasing Consumer Preference for Comfortable and Premium Bedding
The global electric blankets market is primarily driven by improving living standards and inflating income. As a result, consumers have become inclined toward comfortable and premium bedding items, such as electric blankets. The increasing demand for electric blankets to help individuals suffering from pain-related ailments during low temperatures is aiding the market growth. An electric blanket contains an integrated circuit that provides a heating effect. Also, it provides a comfortable sleeping experience and is a good mood enhancer, thus providing great comfort to the consumer. Thus, the factors mentioned above are driving the electric blanket market growth. Furthermore, the growth of the residential and commercial sectors, including travel and hospitality, military and defense, and charity, are positively affecting market development. Further, the rising internet penetration and the increasing number of smartphone users positively impact the e-commerce sector, thereby propelling the online sales of electric blankets.
Electric Blankets Market: Segmental Overview
Based on distribution channel, the electric blankets market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the specialty stores segment accounted for the largest revenue share. The availability of electric blankets through various distribution channels such as specialty stores aided the expansion of the electric blankets market. The specialized online platforms are becoming increasingly popular and attracting consumers with various offers on the products. Electric blankets are the perfect companion to provide consistent warmth to the user. These factors mentioned above are driving the electric blankets market growth.
Moreover, consumers highly value electric blankets during winters as these help to keep them warm and cozy. In addition to warming, these blankets prevent dampness and moist air and are suitable for people with rheumatism. They regulate the blood circulation of the human body and provide a comfortable and efficient sleep. These blankets are available in various designs and colors and provide uniform warmth without adding layer upon layer of bedding. The key drivers of the electric blanket market is the affordability, comfort, and convenience of the products. Further, electric blankets are much cheaper than heaters and bring great benefits to polar or temperate countries that suffer from long and harsh winters. Furthermore, superior internet connectivity in various regions contributes to the high sales of consumer goods such as electric blankets through e-commerce platforms.
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.
Impact of COVID-19 Pandemic on 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.
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