India: Blanket Market 2023

Blanket Market Size in India

In 2021, after nine years of growth, there was significant decline in the Indian blanket market, when its value decreased by -11.5% to $X. In general, consumption, however, posted a resilient expansion. Blanket consumption peaked at $X in 2020, and then declined in the following year.

Blanket Production in India

In value terms, blanket production dropped to $X in 2021 estimated in export price. In general, production, however, saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 68% against the previous year. Blanket production peaked at $X in 2020, and then contracted in the following year.

Blanket Exports

Exports from India

In 2021, overseas shipments of blankets and traveling rugs (except electric blankets) increased by 17% to X units, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +4.4% 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 2014 with an increase of 29%. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, blanket exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 31% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for blanket exports from India, with a 57% share of total exports. Moreover, blanket exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), eightfold. The third position in this ranking was taken by Germany (X units), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+0.3% per year) and Germany (+2.5% per year).

In value terms, the United States ($X) remains the key foreign market for blanket exports from India, comprising 62% of total exports. The second position in the ranking was held by Germany ($X), with a 3.8% share of total exports. It was followed by the UK, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+4.3% per year) and the UK (+3.5% per year).

Export Prices by Country

In 2021, the average blanket export price amounted to $X per unit, with an increase of 11% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2017 an increase of 32%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per unit), while the average price for exports to Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Blanket Imports

Imports into India

After three years of decline, purchases abroad of blankets and traveling rugs (except electric blankets) increased by 16% to X units in 2021. Over the period under review, imports, however, continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 when imports increased by 39%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, blanket imports surged to $X in 2021. Overall, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 36%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X units) was the main blanket supplier to India, with a approx. 96% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -2.5%.

In value terms, China ($X) constituted the largest supplier of blanket to India.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -2.3%.

Import Prices by Country

In 2021, the average blanket import price amounted to $X per unit, surging by 8.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 9.9% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.2% per year.

Source: IndexBox Market Intelligence Platform

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