Electric Blankets Market Worth US$ 1,294.62 Mn, Globally, by 2028 at 6.9% CAGR - Exclusive Report by The Insight Partners

NEW YORK, April 21, 2022 /PRNewswire/ -- The Insight Partners published latest research study on Electric Blankets Market Forecast to 2028 – COVID-Impact and Global Analysis – By Size, Type, Distribution Channel, and Geography," 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. The electric blankets market growth is attributed to an increasing consumer preference for comfort and premium bedding and increasing adoption in countries with extreme winters.

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Electric Blankets Market: Competitive Landscape

A few key players operating in the 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.

In 2020, North America accounted for the largest portion of the global electric blankets market share. The US is one of the key economies in North America, contributing significantly to the growth of the electric blankets market. Electric blankets are less expensive than heaters and are ideal for usage in a country with severe winters like the US. Further, one of the benefits of having a heated blanket is that they are energy-efficient and provide warmth without turning up the thermostat, especially during the winter. Furthermore, rising disposable income and an increasing surge in homeownership are fuelling the demand for electric blankets. Electric blankets are a great way to achieve cozy warmth and help save electricity bills generated from room heaters. In addition, to provide comfort, electric blankets ease muscle and joint pain and help the user fall asleep while in pain. Further, Sunbeam Products, Inc. offers a Wi-Fi-connected heated blanket in various sizes, such as twin, full, queen, and king, and can be controlled using the sunbeam app, voice assistants, or a wired digital controller.

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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 size, the electric blankets market is segmented into single, double, and others. The single segment held the largest share of the market in 2020. Single electric blankets are available in 30 x 60 inches or 76 x 152 cms. Most of the products are 100% shock and waterproof and have an auto-cut function for overheat protection. It is available with low-wattage technology, which helps stay safe and warm. The single electric blankets consume approximately 70 Watts of energy. It offers heat and warmth to sore muscles and aches and helps reduce and alleviate discomfort. These blankets include overheat protection to prevent the blanket from overheating and are also waterproof, stain-resistant, battery-powered, lightweight, and mobile chargeable. Moreover, increasing awareness about the variety of electric blankets offered by the manufacturers through brick and mortar stores and online platforms is boosting the demand for electric blankets in the country.

Based on type, the electric blankets market is segmented into electric under blankets and electric over blankets. The electric under blankets segment held a larger share of the market in 2020.  An electric under blanket is positioned above the bed and under the lowest mattress sheet. They are available with various features such as a handy temperature controller, heat settings, auto shut off, and heavy-duty insulated cord. It is also featured with three warmness settings regulated to set the temperature. With the rapid urbanization, the growing consumer preference for luxurious, comfortable, and high-quality bedding is one of the key factors driving the growth of the electric blankets market.

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Based on distribution channel, the electric blankets market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest share of the market in 2020. Specialty stores focus on the specific product category, have deep product assortments, offer value-added products to their customers, and focus on customer delight. Manufacturers are opening exclusive retail stores and specialty stores for the electric blankets market in developed and developing countries to reach a large customer base and offer specialized services.

Impact of COVID-19 Pandemic on Electric Blankets Market Growth

The consumer goods industry during the COVID-19 pandemic faced unprecedented challenges due to the shortage in raw material supply, the shutdown of factories, labor shortage, and other operational difficulties under COVID-19 safety protocols. Initially, the shutdown of manufacturing units, difficulty in the procurement of raw materials, and restrictions on logistics created a negative impact on the electric blanket market. The electric blankets are mostly manufactured from polyester microfiber or fleece materials. Thus, the shutdown of manufacturing units negatively impacted the research and development of the electric blankets market. However, businesses are gaining ground as the governments of various countries eased out the previously imposed restrictions.Hence, the market is expected to recover in the coming years.

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In 2020, North America accounted for the largest share of the global electric blankets market. Increasing investments on research and development to launch new products with multiple safety features such as overheating protection and wireless control have fueled the product demand in this region.

Based on type, the electric under blankets segment is expected to be the fastest-growing segment during the forecast period. Under blankets, also known as heated mattress pads or electric fitted sheets, are heating pads that go over the mattress and underneath the bottom bed sheet to deliver heat from below. The increasing spending on comfortable and warm products is expected to boost the electric under blankets market.

The key factor driving market expansion is the growing customer desire for luxury, comfortable, and premium bedding products fueled by increasing urbanization. In addition, the ever-increasing geriatric population, which is more vulnerable to harsh winter weather, is boosting market expansion. Other growth-inducing elements include product improvements such as introducing innovative water and stain-resistant, battery-powered blankets.

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