North America Throw Blankets Market Trends, Industry | 2031

Report Description

North America Throw Blankets Market Outlook 2031

The North America Throw Blankets Market size was valued at USD 1,601.4 Million in 2022 and is expected to reach USD 2,605.0 Million in 2031, expanding at a CAGR of 5.6% during the forecast period, 2023 to 2031. Throw blankets are incredibly versatile pieces of bedding typically smaller than regular blankets.

They can be used just like traditional blankets as well as home decor items to enhance the style and add unique style to a room. Throws are designed to be draped over furniture, such as couches, chairs and beds, to provide a layer of warmth. These items are multipurpose blankets consisting of a single layer of fabric making them lightweight yet warm.

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Throw blankets are highly versatile owing to their portability and wide variety of designs, sizes, colors, textures and materials available in the market. Throw blankets alone are not sufficient to be used alone in cold weather but they are great for a light nap and provide the perfect level of warmth. Typically throws are not designed to cover the entire bed.

Instead, they are meant to be wrapped around the shoulders or cover the feet while watching tv or reading to add an extra layer of warmth or often swathed over at the back of the couch or arm of the sofa to be used as a decorative item. There are a variety of different materials that can be used to make throw blankets, both natural and synthetic. Some of the most broadly used materials for a throw blanket are cotton, wool, fleece, synthetic, among other materials.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy including the North American economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of goods, thereby creating manufacturing issues.

In January 2020, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern, and in March 2020, it proclaimed it as a global pandemic. The COVID-19 outbreak affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

North America Throw Blankets Market Dynamics

Driver: Growing Home Decor Market

The growth of home decor market can be attributed to the increasing focus of consumers on interior design and home improvement. Throw blankets are often inexpensive, making it easy for people to customize their living space. These blankets are pleasing to eye and make fine accents on large furniture, from beds to patio benches. Throw blankets, similar to any blankets, are crafted to provide warmth.

Throw blankets are used as a bed or couch decoration accessory, with all of their different styles. A chair throw is a good example of throw blankets created for decor purposes. It can be draped over furniture as a decoration or even hang it on a wall as a piece of art.

Driver: Rising Disposable Income

The disposable income in North America has been growing steadily over the years. In 2021, North America population had a total of USD 15.13 Trillion in disposable personal income and per capita personal disposable personal income was USD 45,343. When disposable income levels rise, households have additional money to save or spend, which leads to the growth in consumption.

Increasing disposable income has led to an increase in the demand for premium consumer products such as throw blankets. These blankets are available in plush materials, which enhances their premium feeling. Consumers are willing to spend money for premium products that enhances their ownership experience.

Restraint: Fluctuations in Raw Materials Prices

The prices of raw materials used in the manufacturing of throw blankets such as cotton, wool, polyester, and silk can experience significant fluctuations, due to factors such as supply chain disruptions, weather conditions, geopolitical events, and global economic changes. Sudden increases in raw material costs can lead to high production expenses for manufacturers, impacting their profit margins.

Fluctuating raw material costs can lead to a competitive disadvantage for some manufacturers. Companies increasingly find it difficult to compete with those that can adapt effectively if they change their pricing strategies.

Opportunity: Varied Seasonal Demand

Throw blankets are both lightweight and adaptable. They are suitable for outdoor summer gatherings such as picnics and trips to the beach. In warm months, marketing throw blankets as multifunctional accessories can increase the demand for them. Wedding and gift-giving seasons are frequently in the spring and summer.

Throw blankets personalized with names, monograms, or significant events can be passed off as thoughtful and unique presents. The demand for themed throw blankets rises within significant celebrations such as Christmas and Halloween. Holiday-themed limited-edition designs can be produced to capitalize on the festive seasons and draw in customers.

Scope of The North America Throw Blankets Market Report

The report on the North America Throw Blankets Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

North America Throw Blankets Market Segment Insights

The North America Throw Blankets Market is segmented on the basis of Material, End-Use, Sales Channel, and Countries.

By Material

Based on material, the North America Throw Blanket market is classified into Cotton, Fleece, Wool, Synthetic, and Others. The cotton segment is projected to expand at a CAGR of XX% between 2023 and 2031. Cotton has always been popular due to its softness, breathability, and easy maintenance. Cotton is still the primary raw material for thousands of useful items made in the United States and around the world.

Cotton is used by textile makers in the United States in an annual average of XX million bales. A bale of cotton weighs around 500 pounds. More than half of this amount (57%) is spent on clothing, XX% on home furnishings, and XX% on industrial products. The cotton segment was valued at XX Million in 2022.

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By End Use

Based on end-use, the North American throw blankets market is classified into residential and commercial. Rising demand for blankets for use in various seasons is expected to drive the residential segment during the forecast period. The need for various types of blankets for residential purposes has been fueled by the changing weather and climate. The commercial segment accounted for a XX share of the market in 2022.

Increasing the use of blankets in commercial sectors, such as travel and hospitality, military, and defense, is likely to boost the market. The commercial segment is driven by an increasing number of airlines and railway services around the world. International airlines and air-conditioned trains provide blankets to passengers for a comfortable and elegant ride.

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By Sales Channel

Based on sales channels, the North American throw blankets market is classified into online and offline. The offline segment is further classified into supermarkets/hypermarkets, retail stores, and others. The online segment is projected to expand at a CAGR of XX% during the forecast period. This is attributed to the increasing use of the internet and the growing reliance of millennials on online forums for shopping.

The offline segment accounted for a XX% share of the market in 2022. The supermarkets/hypermarkets sub-segment held a large market share. This is attributed to the wide selection of blankets, including quilts, duvets, and comforters, in one location for the convenience of buyers. Additionally, they offer stock clearance specials and substantial discounts. Accessibility and rapid verification are two primary factors that promote sales in hypermarkets.

Country Outlook

On the basis of countries, the market in North America is bifurcated into the US and Canada. The market in North America is projected to expand at a CAGR of XX% between 2022 to 2031. The North American home textile market is growing at a steady pace, and this is driving demand for a throw blanket.

Moreover, growing trends toward minimalism and simplicity in North America, and this is leading to increased demand for the throw blanket market. In addition, the market in Canada is expected to expand at a CAGR of XX% during the forecast period, from 2023 to 2031.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the North America Throw Blankets Market

• Historical, Current, and Projected Market Size in terms of Value and Volume

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on North America Throw Blankets Market Performance