Electric Blankets Market Growth & Trends
The global electric blankets market size is expected to reach USD 1.2 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.1% CAGR during the forecast period. Growing incorporation of technological advancements in consumer convenience products and devices is driving the market. Consumers living in countries with long, harsh winters and those suffering from various pain-related ailments are key end users of electric blankets.
Electric blankets are comparatively less expensive than heaters and are of great use in countries with long and harsh winters. Companies have been focusing on developing well insulated sheets lined with thick fleece to provide ample natural insulation and warmth. They are also introducing products that can be washed and are portable. For instance, Medisana HDW designed a blanket that is machine washable and is made out of microfiber fleece.
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Asia Pacific emerged as the largest market in 2018 and is estimated to account for close to 32.0% of the global market by 2025. The market dominance can be attributed to increasing use and widespread availability of electric blankets in China. China’s purchase quantities amount to roughly 30 million units each year, as they are very easily available, are increasingly affordable, and are also sold in department stores as well as at garage sales.
By end user, household accounted for the largest share of more than 45.0% in 2018. Increasing disposable income of consumers, coupled with surge in home ownership in several developing countries, has supported the growth of the segment. Improving lifestyles of people, especially in China, and introduction of technology-based convenient consumer products are expected to drive the use of electric blankets over the next few years. Affordability, comfort, and benefits have driven product demand across various consumer age groups, especially among those suffering from ailments such as arthritis, muscle pains, sinus problems, fibromyalgia, and painful menstruation.
Electric Blankets Market Report Highlights
• The global electric blankets market is expected to reach a value of USD 1.2 billion by 2025, exhibiting a CAGR of 7.1% from 2019 to 2025
• APAC emerged as the largest market in 2018 and is estimated to account for close to 32.0% of the global market by 2025, driven majorly by high demand in China
• Some of the major players operating in the global market are Jarden Corporation, Shanghai Shenda Co. Ltd., Morphy Richards Ltd., Snugnights UK LLP, Beurer GmbH, Caiyang, Slumberdown, Shijiazhuang Mengjie Industry Co. Ltd., and Silentnight Group Ltd.
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Electric Blankets Market Segmentation
Grand View Research has segmented the global electric blankets market on the basis of distribution channel, end user, and region:
Electric Blankets Distribution Channel Outlook (USD Million, 2015 - 2025)
• Offline
• Online
Electric Blankets End-user Outlook (USD Million, 2015 - 2025)
• Hotels
• Hospitals
• Households
Electric Blankets Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o France
o Germany
• Asia Pacific
o China
o Japan
• Central & South America
• Middle East & Africa (MEA)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.