Global Electric Blankets Market Segmentation, Demand and Supply 2020-2027
Summary - A new market study, titled“Global Electric Blankets Market Size study, by Distribution Channel (Offline, Online ), by End User ( Hotels, Hospitals, Households ) and Regional Forecasts 2020-2027” has been featured on WiseGuyReports
Global Electric Blankets Market is valued approximately at USD 0.81 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.1% over the forecast period 2020-2027. Electric blankets are heating blankets with incorporated heating elements that help sustain a desired degree of temperature even in a cold environment. Electric blankets are used mainly to reduce the average cost of home heating. These are chosen for both residential and commercial ends. Their unique high durability, low cost, and long-lasting characteristics are factors that lead to a surge in demand. The affordability, comfort, and convenience offered, is one of the key drivers of the electric blanket industry. Electric blankets cost considerably less than heaters. They can be of great benefit in polar or temperate countries that suffer from long and cold winters. However, safety concern is expected to hinder the market growth. Apart from this, the key players of global Electric Blankets market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, in October 2019, Xiaomi launches the PMA smart Electric Blanket. A smart blanket which maintains temperature and is controlled by voice. Similarly, 2019, Bedsure launched new product-sherpa fleece low-voltage heated blanket.
This Electric Blankets market report provides an analysis for the period 2016 to 2023, where 2018 to 2023 is the forecast period, while 2017 is the base year. This report on Electric Blanketss covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the coming years.
The global Electric Blankets market has been segmented on the basis of different product type, material type, usage type, size, and distribution channel. On the basis of different product types, the market is segmented into radially wound pledget and rectangular/square pads. On the basis of different material types, the market is segmented into organic cotton, rayon, and blended. Based on different usage type, the market is segmented into Digital/No Applicator and Applicator. On the basis of different size, the market is segmented into mini, regular, and extra-large. Further, on the basis of different distribution channels, the market is segmented into online channel and offline channel. The offline channel has been further segmented into supermarkets/hypermarkets, independent retailers, and others.
The organic Cotton segment dominated the market in 2018 and is expected to display a similar trend in the coming years
Electric Blanketss made of organic cotton are more preferred by women as they do not contain any pesticide residue. This is mainly due to the fact that organic cotton Electric Blanketss go through stringent examinations in order to be labelled as organic. In addition to this, organic cotton does not contain endocrine disrupting elements that can cause hormonal problems, fertility problems, and can even lead to cancer. Moreover, organic Electric Blanketss are considered to be biodegradable, which is generating opportunity for this segment during the forecast period.
The online segment is expected to witness the fastest growth during the forecast period
The penetration of internet services and an inclination towards convenience among consumers over the years are the major factors that are resulting in a significant growth rate for the online channel. Moreover, products such as organic Electric Blanketss are difficult to find in grocery stores due to a lack of proper knowledge. However, retailers are focussing on enhancing the online channel through several initiatives that include targeted marketing and online education. This initiative has triggered the online sales over the past few years. Additionally, this has also resulted in an increase in comfort level of the consumers towards purchasing this product through online channel. E-retailers such as Amazon are selling a wide range of organic Electric Blanketss that belong to different companies across the globe. They also offer discounts on bulk purchases in order to grab a greater number of customer attention.
In terms of different regions, the market is segmented into North America, Europe, Asia Pacific, and Middle East & Africa & Latin America. North America accounted for a significant market share in 2018 and is expected to display a similar trend in the coming years. This is mainly due to the changing preference of women towards feminine hygiene products. Further, the rising demand for organic and biodegradable Electric Blanketss also contributed towards the expansion of the Electric Blanketss market in North America. Europe also accounted for a significant market share in 2018, owing to new product innovations and product launches over the years. The Asia-Pacific region is expected to witness the fastest growth during the forecast period. This is mainly due to the rising awareness among women about menstrual health over the years.
The major players operating in the global Electric Blankets market are Body wise (UK) Limited, Corman S.p.A., Edgewell Personal Care Company, First Quality Hygienic Inc., Lil-lets Group Limited, Johnson & Johnson, Kimberley-Clark Corporation, Procter & Gamble Co., Svenska Cellulosa Aktiebolaget, and Unicharm Corporation, among others. The major players have stepped up new product innovation and new product launches in order to gain more attention from the customers. Moreover, the market growth is attributed to strategic mergers & acquisitions, geographical expansion, and joint ventures & partnerships, in order to ensure long-term sustenance in the market. Companies such as Kimberly Clark’s brand U by Kotex partnered with Jessamyn Stanley to launch three new products in order to grab more customer attention. One of the products, New U by Kotex Fitness Electric Blanketss with a plastic FitPak offers extra protection to women while doing exercise or any other physical activity.
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