Project report for Blanket

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Introduction

The blanket manufacturing industry is expected to witness further growth as a result of increasing demand for luxury and comfort among the working-class population in the developing country like India. The pattern, material, and color of blankets play an essential role in influencing the buying behavior of consumers. Considering the change in the buying patterns, preference for bold and dramatic colors has been observed among consumers. Blanket manufacturing companies have been incorporating these preferable colors and patterns in their new products. New product developments such as pastel colored cotton blankets are expected to remain a recent trend. Preference for color and pattern is mostly based on the requirements of products with excellent for stain resistance and machine washable properties.

A blanket refers to the feel of the blanket. These blankets are widely in demand owing to their beautiful appearance and trendy patterns. The blanket is made from a synthetic acrylic blend. It is woven to feel like mink. For a very soft and warm blanket. A blanket is a piece of soft cloth large enough either to cover or to enfold a great portion of the user's body. It is usually used when a person goes to sleep or is otherwise at rest. It traps radiant bodily heat that otherwise would be lost through convection, helping to keep the user warm. Many children and adults use a blanket as a comfort object.

Market potential & Strategy

Global Blanket Market size is projected to reach approximately INR 72,66,79,380 by 2027, at a CAGR of 4.2% from 2020 to 2027. Increase in demand for luxury & comfort by working population: Growing working population and improving the living standard of the consumers are driving the growth of the blanket globally. This is boosting the growth of the global blanket market. On the basis of requirement, there are various types of blankets according to patterns, colors, and materials. Consumer preference for branded blankets is expected to drive the growth of the global blanket market during the review period. Increasing demand for luxury and comfort among the working-class population is another factor supporting the growth of the global blanket market.

The softness and durability of a blanket are expected to promote the demand for a blanket in the near future. Increasing penetration of electric blankets in many emerging countries is major factor expected to fuel growth of the global blanket market over the forecast period. In addition, increasing popularity of various types, patterns, colors, and brands of blankets coupled with rising product advertising through various social media platforms across the globe are other major factors projected to drive growth of the global market.

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