Electric Blankets Market Size, Analysis Report 2028

[Research Report] The electric blankets market size is projected to reach US$ 1,294.62 million by 2028 from US$ 812.94 million in 2021; it is expected to grow at a CAGR of 6.9% from 2021 to 2028.

Market Insights and Analyst View:

The electric blankets market is growing due to the rapidly growing demand for consumer products with innovative technological additions. The electric blankets are much more efficient than regular blankets and are therefore preferred by consumers living in countries with extreme cold temperatures. The demand for electric blankets is also growing due to increased consumer demand for premium bedding and related products. Electric blankets are getting utmost attention among consumers owing to the various benefits associated with the product such as allowing consumers to adjust temperatures, delivering maximum comfort, and lesser energy consumption. As the products are witnessing increased innovation with additional features such as battery-powered blankets with mobile chargeable sockets, waterproof blankets, lightweight, durable, machine washable, and water-resistant blankets.

Growth Drivers and Challenges:

Extreme and bitter winters with low temperatures and increasing demand for heated products such as electric blankets with unique features are some of the notable drivers influencing the demand for electric blankets in frosty regions. Electric blankets are more cost-effective than room heaters and have low running costs compared to the heaters. This factor has gained the popularity of electric blankets in many icy countries and is expected to continue through the forecast period. Electric blanket suppliers focus on launching new products and boosting their sales potential in icy nations. For instance, in June 2021, Aldi Australia announced the launch of new heated electric blankets which can also be used in cars. The aged population is increasing across the globe, and this trend is mostly prominently in countries in Europe and Australia & Oceania. Aged people are sensitive to changes in weather, and extreme cold or heat can create further complications in health. An increasing focus on elderly care is expected to drive the sales of electric blankets.

The use of electric blankets are seasonal, which makes it a high-risk business during off season. Improper use of electric products like electric blankets may make it a menacing addition to a bed. Use of overheated electric products such as electric blankets during pregnancy can be risky. Pregnant women are suggested not to use electric blankets because they produce low-frequency electromagnetic fields which enter the body and can be harmful for mother and child. Many companies have invested considerable funds into the research & development, designing & packaging, and promotion of the product. They are only expected to sell for 2-3 months as the products are not in demand during summers. In addition, less awareness about electric blankets in many urban and rural areas across the globe is a challenging factor that restrains the market's growth.

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Electric Blankets Market: Strategic Insights

Market Size Value in	US$ 812.94 million in 2021
Market Size Value by	US$ 1,294.62 million by 2028
Growth rate	CAGR of 6.9% from 2021 to 2028.
Forecast Period	2021- 2028
Base Year	2021

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Report Segmentation and Scope:

The “Global Electric Blankets Market” is segmented based on size, type, distribution channel, and geography. Based on size, the electric blankets market is segmented into single, double, and others. Based in type, the electric blankets market is segmented into electric under blankets and electric over blankets. Based on distribution channel, the electric blankets market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The electric blankets market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

Based on size, the electric blankets market is segmented into single, double, and others. On the basis of type, the market is bifurcated into electric under blankets and electric over blankets. Based on distribution channel, the electric blankets market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty store segment held the significant share in the electric blankets market and is expected to register the significant growth over the forecast period. Specialty stores focus on the specific product category and have deep product assortments. These stores provide a personalized shopping experience and a positive retail environment to the customers. They offer value-added products to their customer and focus on customer delight. Moreover, these types of stores usually have trained staff knowledgeable about the products they offer to consumers.

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Regional Analysis:

Based on geography, the electric blankets market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The global electric blankets market was dominated by North America which accounted for US$ 262.57 million in 2020. Europe is a second major contributor holding more than 29% share in the global market. Asia Pacific is expected to register the considerable growth at a CAGR of 7.9% over the forecast period.  Increasing inclusion of technological improvements in consumer convenience products and devices in the region is the vital factor driving the market growth in Europe. The electric blanket is ideal for beds of different sizes, provides double safety and heat protection, and is lightweight, soft, and pleasant. It also has an auto shut-off mechanism, saves electricity, and protects the body from sudden heat changes when entering the bed for sleep, especially in cold weather when the whole house is not heated.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the electric blankets market are listed below:

1. In October 2019, Xiaomi Corporation announced the launch of a new and innovative PMA smart electric blanket. This newly launched blanket can be made to function as an app of Xiaomi.

Covid-19 Impact:

The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the consumer goods industry. The pandemic induced recession across the global economies as the marketplace remained shut due to lockdowns and border restrictions. the shortage in raw material supply, the shutdown of factories, labor shortage, and other operational difficulties under COVID-19 safety protocols. Initially, due to the shutdown of manufacturing units, difficulty in the procurement of raw materials, restriction on logistics has had a negative impact on the electric blanket market. The outbreak had distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage.

The electric blankets are mostly manufactured from different materials like polyester microfiber or fleece. Thus, the shutdown of manufacturing units led to a negative impact on the research and development of the electric blankets market. The outbreak of COVID-19, has caused increased consciousness of people towards health. Also, there has been a disruption in the production and supply chain of electric blankets that severely impacted the market growth in recent times. However, in 2021, businesses are gaining ground as the governments of various countries eased out the previously imposed restrictions. The start of operations in the manufacturing units had a positive impact on the development and production of electric blankets. The increasing demand for consumer preference for luxurious, comfortable and premium bedding products propel the electric blankets market.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global electric blankets market include Beurer GmbH; Morphy Richards; Biddeford Blankets LLC; Slumberdown Company; Silentnight Group Limited; Glen Dimplex; Sunbeam Products, Inc.; Bedshe International Co., LTD; Shavel Associates Inc.; and Odessey Products among others. These players offer electric blankets with different technologies to attract a large number of consumers.