Asia: Blanket Market 2023

Blanket Market Size in Asia

In 2021, after five years of growth, there was significant decline in the Asian blanket market, when its value decreased by -12.6% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Blanket Production in Asia

In value terms, blanket production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 10% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Blanket Exports

Exports in Asia

In 2021, the amount of blankets and traveling rugs (except electric blankets) exported in Asia surged to X units, picking up by 18% on the previous year. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 37%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, blanket exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, reaching X units, which was approx. 92% of total exports in 2021. The following exporters - India (X units), Vietnam (X units) and Turkey (X units) - each resulted at a 5.3% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to blanket exports from China stood at +3.5%. At the same time, Vietnam (+28.8%) and India (+4.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +28.8% from 2012-2021. By contrast, Turkey (-1.8%) illustrated a downward trend over the same period. While the share of China (+4.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest blanket supplier in Asia, comprising 89% of total exports. The second position in the ranking was taken by India ($X), with a 4.5% share of total exports. It was followed by Vietnam, with a 1.6% share.

In China, blanket exports increased at an average annual rate of +3.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+5.6% per year) and Vietnam (+30.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, picking up by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 32% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.3%), while the other leaders experienced mixed trends in the export price figures.

Blanket Imports

Imports in Asia

In 2021, supplies from abroad of blankets and traveling rugs (except electric blankets) increased by 4.9% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a slight contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 15% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, blanket imports expanded remarkably to $X in 2021. Over the period under review, imports, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2014 with an increase of 13%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units), distantly followed by Japan (X units), Vietnam (X units), Indonesia (X units), Iraq (X units) and Yemen (X units) represented the main importers of blankets and traveling rugs (except electric blankets), together generating 61% of total imports. South Korea (X units), Thailand (X units), India (X units), Oman (X units), Kuwait (X units), Iran (X units) and Afghanistan (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were in Indonesia (with a CAGR of +13.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest blanket importing markets in Asia were Japan ($X), the United Arab Emirates ($X) and Vietnam ($X), with a combined 47% share of total imports.

Vietnam, with a CAGR of +17.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2021, growing by 7.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 14%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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