According to the new research report published by Premium Market Insights, titled “The electric blanket market 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.
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Electric blankets are gaining considerable attention among consumers due to the various benefits associated with the product, such as allowing users to adjust temperatures, offering maximum comfort, and consuming less energy. The products witness further innovation with additional features such as battery powered blankets with chargeable mobile plugs, waterproof blankets, lightweight, durable, machine washable and waterproof blankets. These innovative features are increasing the appeal of electric blankets. In addition, an electric blanket is a product that gives heat by heating electrical heating wires placed between the fabrics. Electric blankets generally have warm and hot settings and use around 80 watts of power. Besides, Rising consumer purchasing power and demand for premium and brand name products from various end users are driving the growth of the electric blanket market. Therefore, the growth of the electric blanket market is increasing at a significant rate. Furthermore, emerging economies are witnessing an increase in the middle class population along with the growth of urbanization. An increase in the middle class population in this region and the growing consumer awareness of the availability of different types of products in the market drive the demand for electric blankets. The electric blanket market is witnessing a growing expansion due to increasing consumer awareness and various advantages associated with the product.
Based on the distribution channel, the electric blanket market is segmented into supermarkets and hypermarkets, specialty stores, online retailers, and others. In 2020, the specialty store segment accounted for the largest share of revenue. The availability of electric blankets through various distribution channels such as specialty stores helped the expansion of the electric blanket market. Specialized online platforms are becoming more and more popular and attract consumers with various offers on products. Electric blankets are the perfect companion to provide constant warmth to the user. These above mentioned factors are driving the growth of the electric blanket market. Also, electric blankets are highly valued by consumers during winters, as they help keep them warm and cozy. In addition to warming, these blankets prevent moisture and humid 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 even warmth without adding layer upon layer of bedding. The main drivers of the electric blanket market are the affordability, comfort and convenience of the products. In addition, electric blankets are much cheaper than heaters and bring great benefits to polar or temperate countries that experience long, harsh winters. Besides,
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The growing strategic marketing and advertising of winter products drives the demand for electric blankets in the country. Furthermore, the increasing focus of the major players on launching winter products according to the latest trends is another factor supporting the growth of the electric blankets market.
Some key players operating in the global electric blanket 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. The players operating in the market are highly focused on developing high-quality and innovative product offerings to meet the requirements of the customers.
The overall size of the electric blanket market has been derived using primary and secondary sources. To start the research process, extensive secondary research has been carried out using internal and external sources to obtain qualitative and quantitative information related to the market. Additionally, multiple primary interviews with industry participants have been conducted to validate the data and gain further analytical insights on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, and country sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the market for electric blankets.
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