LONDON--(BUSINESS WIRE)--The global heated bedding market is expected to grow at a CAGR of more than 4% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global heated bedding market by product, including heated blankets and throws and heated mattress pads. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: product premiumization
The high degree of product premiumization in the global heated bedding market has contributed substantially to the increase in demand for heated bedding products. The consumer focuses on safety, quality, coziness, durability, and reliability while investing in a heated bedding product. There exists minimal scope for sub-standard products in the global heated bedding market.
According to a senior analyst at Technavio for goods and services research, “Product premiumization is associated with increased product costs. The consumers in the market are willing to invest heavily in premium, high-end products that provide maximum satisfaction. Therefore, product premiumization increases the degree of customer satisfaction. This boosts the growth of the market during the forecast period.”
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Market trend: portable heated bedding products
Lately, the key vendors in the global heated bedding products are providing portable blankets and throws. Such products can be easily transported during vacations or to camping sites. They are lightweight and have water-repellent properties. The availability of portable heated bedding products allows the expansion of the global heated bedding market. The degree of penetration of such products is expected to increase during the forecast period. This trend is positively impacting the growth of the global heated bedding market.
Market challenge: ease of substitution
The volume sales of heated bedding products are affected by the easy availability of substitutes in the market. Regardless of the multiple benefits associated with heated bedding products, the increased sales of substitutes negatively impact the growth of the market in focus. Heated bedding products are substituted by room heaters, HVAC systems, and regular bedding products.
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