Preliminary research of Fairfield Market Research indicates a promising growth outlook for global electric blanket market during the course of next few years.
Electric Blanket Market to Largely Benefit from Esacalting Rate of Adoption Across Hopsitality Segments
One of the main factors that are anticipated to generate a lot of new opportunities for the growth of the electric blankets market is the increasing investment in developing sophisticated types of blankets, such as battery-driven, durable, lightweight, and water-resistant blankets. Manufacturers are also developing microfiber fleece variants to provide more natural insulation, and warmth retention. Electric blankets are becoming increasingly popular due to their affordable price, and increased use in regions with long winters and bitterly cold temperatures. While this primarily drives the growth of electric blanket market, more businesses are concentrating on developing thick fleece wrapped with well-insulated sheets to provide ample insulation, and natural warmth. Additionally, washable, and portable items are a focus for manufacturers.
For instance, Medisana HDW has produced a machine-washable blanket and a microfiber fleece blanket. It has four heat settings with varying degrees of control. The other items in this group are Imetec 16175, Klarstein, Dr. Watson, and XLand. During the projected period, these advancements are anticipated to fuel electric blanket market expansion on a global scale. The adoption is expected to grow significantly in commercial sector areas like hotels, and hospitals. Electric blanket usage in the hotel industry is expected to increase as more travelers arrive from colder countries. Because these adaptable heating devices can help to maintain the temperature in a patient's room during bitter colds, hospitals present lucrative opportunities for market players.
Electric Blanket Market: COVID-19 Impact
Due to a lack of raw materials, factory closures, a personnel shortage, and other operational obstacles brought on by the COVID-19 safety regulations, the consumer goods industry encountered previously unheard-of difficulties during the COVID-19 pandemic. At first, the electric blanket market was negatively impacted by manufacturing unit closures, challenges in obtaining raw materials, and transportation limitations. Most materials used to make electric blankets are polyester microfiber or fleece. Therefore, the closure of production facilities had a negative effect on market research and development for electric blankets. However, businesses are making progress as governments in many nations relaxed the previously imposed limits. As a result, market recovery is anticipated during the next few years.
Rising Interest in Under Blankets will Fuel Electric Blanket Market Expansion
There are many different types of electric blankets on the electric blanket market, including electric pads, under blankets, and over blankets. As the name implies, over blankets are draped over the body. Under blankets are heating pads that go beneath the bottom sheet and over the mattress to provide heat from below. They are also referred to as electric fitted sheets or heated mattress pads. In contrast, electric pads are heating pads to warm specific body parts and relieve discomfort. Among them, it is predicted that the demand for under blankets will increase throughout the forecast. The growing consumer preference for cozy, opulent, and premium bedding products and global urbanization are some of the key factors anticipated to boost the demand for under blankets in the market.
Growing Adoption in Terrible Winter Environments to Boost Electric Blanket Market
Extremely cold winters with low temperatures and rising demand for heated goods, such as electric blankets with distinctive features, are some significant factors influencing the electric blankets market in cold regions. Electric blankets are less expensive to buy and operate than space heaters. Additionally, the world's elderly population is growing, with Europe, Australia, and Oceania showing the strongest trends in this direction. Aged people are sensitive to weather changes, and extreme cold or heat can worsen health issues. A growing emphasis on elderly care is driving the electric blanket market. Furthermore, the hospitality and tourism industries are crucial in driving up sales of cozy products for the convenience of consumers. According to World Travel and Tourism Council data, the travel and tourism industry contributed US$8.8 Tn to the global economy in 2018. The emphasis on comfortable guest services by hotels and homestays in polar regions with extreme colds has increased demand for electric blankets.
Electric Blanket Market Revenue Growth Limited Due to Seasonality
Electric blanket investing can be a highly risky venture. Many businesses spend a lot of money developing, creating, packing, and promoting a product that they only plan to sell for two to three months since selling it for longer would be difficult. Since electric blankets are winter-specific products primarily sold to customers from September through the end of January, so this is a high-risk industry. The prudent use of electric blankets is another factor. An electric blanket may become a risky addition to a bed if used improperly. When pregnant, it can be dangerous to overheat the body with an electric blanket. Electric blankets produce low-frequency electromagnetic fields that can penetrate the body. Pregnant women are often recommended not to use them as the fetus may suffer injury from a greater core body temperature, especially in the first trimester. These elements could limit the electric blanket market overall revenue growth.
Specialty Stores Category to Dominate Electric Blanket Market for Benefits Like an Ability to Examine Product
In 2021, the multi-slice electric blanket category held a sizable electric blanket market share. Physical product presentation and the ability to examine product attributes have been key factors in expanding specialty stores. American consumers buy most of their goods offline from mass merchants, with the retail, department, and specialty stores coming in second and third. According to estimates, electric blankets are in 75 million American households or 61%. According to Tamara Young, a public information specialist for the CPSC, the group looking into electric blankets has suggested modernizing the Underwriters Laboratory (UL) guidelines to lessen the likelihood of fire risks. Electric blankets are made from synthetic materials like acrylic and polyester, which have higher melting points than cotton. Besides, the use of e-commerce platforms as distribution channels has grown due to the rise in tech-savvy consumers and the popularity of online shopping. This development has led to the emergence of independent online merchants and e-retailers that offer premium products to appeal to the steadily expanding customer base.
Residential Category Leads Electric Blanket Market As Developing Economies Witness Phenomenal Growth in Homeownership
The residential category held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. The category has grown due to consumers' rising disposable income and growth in homeownership in some emerging countries. In the first half of 2021, employee compensation was the main factor causing income gaps between the lowest and the highest income quintiles. Employee wages increased 5.1 percent in the first quarter and 8.7 percent in the second for families in the lowest income quintile compared to the highest income quintile over the same periods. In the coming years, it is anticipated that improved lifestyles, particularly in China, and the introduction of practical consumer technology products will encourage using electric blankets. Across all consumer age groups, product demand has been driven by affordability, comfort, and benefits, particularly among those who experience ailments like fibromyalgia, arthritis, painful menstruation, and muscular aches. On the other hand, commercial sectors like hotels, and hospitals are expected to grow quickly in the coming years. Electric blanket usage in the hotel industry is anticipated to rise as tourism increases in countries with a colder climates. Hospitals offer lucrative opportunities for electric blanket market participants as these adaptable heating products may help maintain a patient's room temperature during extremely cold weather.
North America to Dominate Electric Blanket Market Due to Harsh Winter Conditions
Over the forecast period, it is anticipated that the North American electric blanket market will account for the largest revenue share. One of the most important economies in North America is the U.S., which has had a big impact on the market expansion. Electric blankets are more affordable than heaters for use in a nation with harsh winters like the U.S. Having a heated blanket also has other advantages, particularly during the winter, such as saving energy and providing warmth without raising the thermostat. Additionally, the demand for electric blankets is fueled by rising disposable income and homeownership. Using electric blankets is a great way to stay warm and cozy while reducing the cost of your electricity bill for room heater use. In addition to offering comfort, electric blankets help people fall asleep by reducing muscle and joint pain.
The Asia Pacific electric blanket market is anticipated to experience stable revenue growth throughout the forecast period. Due to rising consumer demand, China has a monopoly on the region’s market. The expanding use and accessibility of electric blankets in China have aided the dominance of market. Since they are widely cheaper, available, and sold in department stores and yard sales, China buys about 30 million each year. Due to their widespread declining price, availability, and availability at department stores and yard sales, China buys over 30 million pieces annually. As a major supplier of electric blankets, China is another country. The top exporters of materials used in electric blankets in 2020 were China ($237 million), Czechia ($12.6 million), Indonesia ($8.94 million), Vietnam ($6.96 million), and Germany ($5.06 million).
Global Electric Blanket Market: Competitive Landscape
In October 2020, the launch of Xiaomi's voice-activated smart electric blanket with temperature control, the PMA, is scheduled. Similarly, in October 2020, the new Sherpa fleece low-voltage heated blanket was unveiled by Bedsure.
A few of the players in the electric blanket market are Jarden Corporation, Shanghai Shenda Co. Ltd., Beurer GmbH, Morphy Richards Ltd., Biddeford Blankets, LLC, Snugnights UK LLP, Slumberdown Company, PIFCO, Shavel Associates Inc., Silentnight Group Ltd, CDB Goldair Australia Pty LTD, Glen Dimplex Group, MAXSA Innovations, E&E Co. Ltd., and Shijiazhuang Mengjie Industry Co. Ltd.
Global Electric Blanket Market is Segmented as Below:
By End Use
By Price Range
By Sales Channel
Key Elements Included In The Study: Global Electric Blanket Market
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