Blanket Market

The global market for blankets and traveling rugs is expected to see growth in both volume and value over the period from 2022 to 2030. With an anticipated CAGR of +1.7% in volume and +4.2% in value, the market is projected to reach 1.5B units and $13.9B by the end of 2030. The United States leads in both consumption and production, while China dominates in exports. Blankets and traveling rugs made of synthetic fibers are the most commonly traded products. Overall, the market is dynamic with noticeable fluctuations in consumption, production, and trade patterns.

Market Forecast

Driven by increasing demand for blankets and traveling rugs (except electric blankets) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $13.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Blankets And Traveling Rugs (Except Electric Blankets)

Global blanket consumption stood at 1.3B units in 2022, growing by 4.7% compared with the year before. The total consumption volume increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the consumption volume increased by 10% against the previous year. Global consumption peaked in 2022 and is likely to continue growth in years to come.

The global blanket market revenue dropped slightly to $10B in 2022, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $10.2B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The United States (364M units) constituted the country with the largest volume of blanket consumption, accounting for 28% of total volume. Moreover, blanket consumption in the United States exceeded the figures recorded by the second-largest consumer, China (71M units), fivefold. The third position in this ranking was taken by Nigeria (34M units), with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume in the United States stood at +16.8%. In the other countries, the average annual rates were as follows: China (-4.5% per year) and Nigeria (+6.7% per year).

In value terms, the United States ($2.1B) led the market, alone. The second position in the ranking was taken by Bangladesh ($442M). It was followed by China.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +12.6%. In the other countries, the average annual rates were as follows: Bangladesh (+5.8% per year) and China (-6.8% per year).

The countries with the highest levels of blanket per capita consumption in 2022 were the United Arab Emirates (2,176 units per 1000 persons), the Netherlands (1,343 units per 1000 persons) and the United States (1,086 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +16.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Blankets And Traveling Rugs (Except Electric Blankets)

In 2022, global production of blankets and traveling rugs (except electric blankets) soared to 1.4B units, with an increase of 17% against 2021 figures. In general, the total production indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +13.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 29% against the previous year. Over the period under review, global production reached the maximum volume in 2022 and is likely to see gradual growth in years to come.

In value terms, blanket production reduced slightly to $10.2B in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 15%. Over the period under review, global production hit record highs at $13.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (897M units) constituted the country with the largest volume of blanket production, accounting for 64% of total volume. Moreover, blanket production in China exceeded the figures recorded by the second-largest producer, India (45M units), more than tenfold. Pakistan (37M units) ranked third in terms of total production with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +5.4%. The remaining producing countries recorded the following average annual rates of production growth: India (+12.2% per year) and Pakistan (+8.0% per year).

Imports

World Imports of Blankets And Traveling Rugs (Except Electric Blankets)

In 2022, overseas purchases of blankets and traveling rugs (except electric blankets) increased by 7.9% to 872M units, rising for the third consecutive year after two years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, blanket imports amounted to $4.7B in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. Over the period under review, global imports attained the maximum in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the United States (367M units) represented the key importer of blankets and traveling rugs (except electric blankets), mixing up 42% of total imports. The following importers - the Netherlands (38M units), the United Arab Emirates (26M units), Germany (24M units), Japan (21M units), the UK (19M units), Canada (19M units), Thailand (15M units), Iraq (15M units), France (14M units) and Australia (13M units) - together made up 23% of total imports.

Imports into the United States increased at an average annual rate of +16.5% from 2012 to 2022. At the same time, the Netherlands (+20.4%), Thailand (+12.6%), Canada (+9.3%), Australia (+6.7%), the UK (+5.4%), France (+4.9%) and Germany (+3.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +20.4% from 2012-2022. By contrast, Iraq (-1.4%), Japan (-1.7%) and the United Arab Emirates (-3.8%) illustrated a downward trend over the same period. While the share of the United States (+27 p.p.) and the Netherlands (+3.2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Iraq (-1.6 p.p.), Japan (-2.4 p.p.) and the United Arab Emirates (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.6B) constitutes the largest market for imported blankets and traveling rugs (except electric blankets) worldwide, comprising 35% of global imports. The second position in the ranking was held by Germany ($215M), with a 4.6% share of global imports. It was followed by Japan, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +8.5%. In the other countries, the average annual rates were as follows: Germany (+3.0% per year) and Japan (-4.0% per year).

Imports By Type

Blankets and travelling rugs of synthetic fibres was the main type of blankets and traveling rugs (except electric blankets) in the world, with the volume of imports recording 684M units, which was near 78% of total imports in 2022. Blankets (other than electric blankets) and travelling rugs; of cotton (96M units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by blankets and travelling rugs; n.e.s. in heading no. 6301 (9.7%).

Imports of blankets and travelling rugs of synthetic fibres increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, blankets (other than electric blankets) and travelling rugs; of cotton (+21.7%) displayed positive paces of growth. Moreover, blankets (other than electric blankets) and travelling rugs; of cotton emerged as the fastest-growing type imported in the world, with a CAGR of +21.7% from 2012-2022. By contrast, blankets and travelling rugs; n.e.s. in heading no. 6301 (-1.3%) illustrated a downward trend over the same period. While the share of blankets (other than electric blankets) and travelling rugs; of cotton (+8 p.p.) and blankets and travelling rugs of synthetic fibres (+6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of blankets and travelling rugs; n.e.s. in heading no. 6301 (-11.9 p.p.) displayed negative dynamics.

In value terms, blankets and travelling rugs of synthetic fibres ($3.5B) constitutes the largest type of blankets and traveling rugs (except electric blankets) imported worldwide, comprising 76% of global imports. The second position in the ranking was held by blankets (other than electric blankets) and travelling rugs; of cotton ($533M), with a 12% share of global imports. It was followed by blankets and travelling rugs of wool, with a 6.4% share.

For blankets and travelling rugs of synthetic fibres, imports increased at an average annual rate of +3.3% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: blankets (other than electric blankets) and travelling rugs; of cotton (+1.3% per year) and blankets and travelling rugs of wool (+4.4% per year).

Import Prices By Type

The average blanket import price stood at $5.4 per unit in 2022, declining by -6.7% against the previous year. Over the period under review, the import price showed a noticeable reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by 15%. Global import price peaked at $7.1 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was blankets and travelling rugs of wool ($23 per unit), while the price for blankets and travelling rugs; n.e.s. in heading no. 6301 ($2.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by travelling wool rug (+6.5%), while the other products experienced a decline in the import price figures.

Import Prices By Country

The average blanket import price stood at $5.4 per unit in 2022, reducing by -6.7% against the previous year. In general, the import price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2021 when the average import price increased by 15% against the previous year. Over the period under review, average import prices reached the maximum at $7.1 per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($10 per unit), while Thailand ($1.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+1.1%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Blankets And Traveling Rugs (Except Electric Blankets)

In 2022, global exports of blankets and traveling rugs (except electric blankets) surged to 985M units, jumping by 27% compared with the previous year. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 54% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, blanket exports amounted to $5.4B in 2022. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports By Country

China dominates exports structure, recording 828M units, which was near 84% of total exports in 2022. The following exporters - India (20M units) and the Netherlands (15M units) - each finished at a 3.6% share of total exports.

Exports from China increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, the Netherlands (+13.8%) and India (+5.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.8% from 2012-2022. From 2012 to 2022, the share of China increased by +8.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($4B) remains the largest blanket supplier worldwide, comprising 73% of global exports. The second position in the ranking was taken by India ($233M), with a 4.3% share of global exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.0%. In the other countries, the average annual rates were as follows: India (+6.6% per year) and the Netherlands (+13.5% per year).

Exports By Type

Blankets and travelling rugs of synthetic fibres prevails in exports structure, reaching 893M units, which was near 89% of total exports in 2022. It was distantly followed by blankets and travelling rugs; n.e.s. in heading no. 6301 (47M units) and blankets (other than electric blankets) and travelling rugs; of cotton (46M units), together making up a 9.3% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to blankets and travelling rugs of synthetic fibres exports of stood at +7.7%. At the same time, blankets (other than electric blankets) and travelling rugs; of cotton (+83.3%) displayed positive paces of growth. Moreover, blankets (other than electric blankets) and travelling rugs; of cotton emerged as the fastest-growing type exported in the world, with a CAGR of +83.3% from 2012-2022. Blankets and travelling rugs; n.e.s. in heading no. 6301 experienced a relatively flat trend pattern. Blankets (other than electric blankets) and travelling rugs; of cotton (+4.6 p.p.) and blankets and travelling rugs of synthetic fibres (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while blankets and travelling rugs; n.e.s. in heading no. 6301 saw its share reduced by -5.6% from 2012 to 2022, respectively.

In value terms, blankets and travelling rugs of synthetic fibres ($4.4B) remains the largest type of blankets and traveling rugs (except electric blankets) supplied worldwide, comprising 81% of global exports. The second position in the ranking was taken by blankets (other than electric blankets) and travelling rugs; of cotton ($463M), with an 8.6% share of global exports. It was followed by blankets and travelling rugs of wool, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of the value of blankets and travelling rugs of synthetic fibres exports stood at +3.5%. With regard to the other exported products, the following average annual rates of growth were recorded: blankets (other than electric blankets) and travelling rugs; of cotton (-2.3% per year) and blankets and travelling rugs of wool (+8.6% per year).

Export Prices By Type

The average blanket export price stood at $5.5 per unit in 2022, which is down by -19.4% against the previous year. In general, the export price showed a perceptible decline. The pace of growth appeared the most rapid in 2014 an increase of 27%. The global export price peaked at $10 per unit in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was blankets and travelling rugs of wool ($30 per unit), while the average price for exports of blankets and travelling rugs; n.e.s. in heading no. 6301 ($4.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by travelling wool rug (+8.7%), while the other products experienced a decline in the export price figures.

Export Prices By Country

The average blanket export price stood at $5.5 per unit in 2022, which is down by -19.4% against the previous year. In general, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2014 an increase of 27% against the previous year. The global export price peaked at $10 per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($11 per unit), while China ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.2%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform