NEW YORK, Feb. 21, 2024 /PRNewswire/ — The heated bedding market size is estimated to increase by USD 111.39 million from 2022 to 2027, with a CAGR of 4.1%, according to a recent study by Technavio. The demand for heated bedding products has increased due to the high level of product premiumization. When purchasing such products, consumers place great importance on factors like safety, quality, durability, comfort, and reliability. The industry does not tolerate inferior products, and customers are willing to pay a higher price for premium products that deliver maximum satisfaction. This results in customer satisfaction and contributes to the growth of the market. For example, Sunbeam Products (Newell Brands) offers the Feel Perfect Luxe Faux Fur Heated Throw, catering to these consumer demands. Hence, these factors are expected to drive market growth during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report
Vendor Analysis and Scope
The report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below- American National Manufacturing Inc., Bed Bath and Beyond Inc., Biddeford Blankets LLC, Brothers Bedding Mattress Factory, Delutti Inc., Electro Warmth, Living Earth Crafts, medisana GmbH, Microlife Corp., Newell Brands Inc., Serta Simmons Bedding LLC, Smiths Group Plc, Spring Air International, Tenacta Group Spa, The Surgical Co., The Vermont Country Store Inc., Thermotex Therapy Systems Ltd., and Tuck Sleep. Chart & Data Table on 5-Year Historic (2017-2021) Size, Comparative Analysis of Segments, and Y-O-Y Growth. Download Sample Report
Market Segmentation
The segmentation is by product (heated blankets and throws and heated mattress pads), and distribution channel (offline and online)
- The heated blankets and throws segment showed a gradual increase in share. The established vendors in the electric blankets sector prioritize the addition of an automatic shut-off function in their blanket and throw products. This feature ensures that the electric current supply to the blanket is automatically turned off after a specific duration. The presence of this safety feature improves the overall safety aspect of heated blankets and throws. Hence, these factors are expected to drive segment growth during the forecast period.
Geographic Overview
The segmentation is by region (North America, Europe, APAC, South America, and the Middle East and Africa). An analysis of key leading countries has been included.
- APAC is estimated to contribute 62% to the growth during the forecast period. The rising disposable income of individuals in countries like China, India, Japan, and South Korea has led to an increased demand for new housing, consequently driving the demand for mattresses. Furthermore, the growing use of smartphones and expanding Internet access in the APAC region enables vendors to tap into the emerging online sector. They achieve this by implementing aggressive promotional and branding tactics, including collaborations with e-retailers and offering discounted prices. Hence, these factors are expected to drive growth in the region during the forecast period. To procure the data – Buy the report!
Consumers’ preference for soft and microfiber velvet blankets is a major trend. The availability of substitutes is a major challenge restricting the growth. For Insights on the dynamics & segmentations. VIEW PDF SAMPLE!
Analyst Review-
The industry is a burgeoning segment within the broader bedding industry, characterized by the growing demand for comfort and warmth during colder seasons. Size and growth are influenced by factors such as consumer preferences and technological advancements in heated blankets and throws, as well as heated mattress pads. The industry’s value chain encompasses manufacturing, distribution, and sales, with key manufacturers driving innovation and competitiveness. Segmentation analysis reveals diverse consumer preferences and consumption areas, while competitive analysis highlights leading companies vying for share. Sales, production, and consumption values reflect dynamics, alongside import and export trends. Operating situations present challenges and opportunities for manufacturers, with the potential for expansion and strategic growth initiatives.
The industry is experiencing notable growth prospects due to rising consumer demand for comfort and warmth during colder seasons. Share is fiercely contested among key players, with sales and distribution channels playing pivotal roles in reaching customers effectively. Upstream raw materials and efficient manufacturing equipment are essential for ensuring product quality and meeting demand. Understanding the manufacturing process is crucial for maintaining competitiveness amidst evolving trends. While economic impact is significant, key drivers like technological advancements and consumer preferences are propelling growth. However, restraints such as regulatory challenges and environmental concerns pose risks. Despite challenges, opportunities abound for innovation and expansion, making the sector an enticing prospect for investors and businesses alike. VIEW PDF SAMPLE!
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.
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SOURCE Technavio
