A new research report published by Fior Markets with the title Plush Blankets Market by Application (Commercial, Residential), Distribution Channel (Online, Convenience Stores, Hypermarkets & Supermarkets, Others), Regions, and Global Forecast 2021-2028.
The global plush blanket market is expected to grow from USD 392.20 million in 2020 to USD 625.11 million by 2028, at a CAGR of 6.0% during the forecast period 2021-2028. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2021-2028. This growth is owing to factors like rising disposable income & consumer spending, and growth in many industries such as hospitality (hotels). Emerging economies like India, Brazil, and China are especially lucrative, considering their growth potential. On the other hand, the North America region accounted for the major market share of 40.6% in the year 2020 and is anticipated to grow throughout the projected period. The increased spending on residential upgrades and repairs by Americans is encouraging the use of high-end premium bedding items in this area, which is driving the product demand.
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Key players in the global plush blanket market are American Blanket Company, The Northwest Company, Berkshire Blanket & Home Co., Sunbeam Products, Inc., FleecePro, Plush Addict Ltd., ADORNit, Shannon Fabrics Inc., Robert Kaufman Co., Inc., The Company Store, and Venus Group, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global plush blanket market.
Based on application, the global market has been divided into commercial and residential. Residential segment dominated the market and held the largest market share of 67.4% in the year 2020. The increasing availability of luxurious and quality-related bedding items with various functional benefits has resulted in a substantial increase in demand for plush blankets in the domestic sector. The segment is being driven by rising spending on bedding items that have a relaxing and rejuvenating sleeping experience. Some other key factors fuelling the growth of the residential segment are growing volume of sales, consumer desire for fashionable home décor, advancement in fabrics like a mixture of fleece, mink, and faux fur plush fibers, and strong demand for premium luxury material blankets. On the basis of distribution channel, the plush blankets market has been segmented into online, convenience stores, hypermarkets & supermarkets, and others. The online segment is set to register the fastest growth over the projected timeframe with a CAGR of 6.8%. Consumer demand for e-commerce sites is projected to grow as a wide variety of goods from domestic and foreign players become available online. The availability of first pieces and exclusive products are expected to drive revenue across business websites. Festive sales, heavy discounts, and a broad range of products on e-commerce websites are anticipated to drive sales via company portals.
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About the report:
The global plush blanket market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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