India: Blanket Market 2024

Blanket Market Size in India

In 2022, the Indian blanket market decreased by -19.3% to $X, falling for the second consecutive year after nine years of growth. In general, consumption, however, saw a buoyant expansion. Blanket consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Blanket Production in India

In value terms, blanket production totaled $X in 2022 estimated in export price. Overall, production saw strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 68% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Blanket Exports

Exports from India

In 2022, overseas shipments of blankets and traveling rugs (except electric blankets) increased by 55% to X tons, rising for the third year in a row after three years of decline. Overall, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +97.8% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, blanket exports surged to $X in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.8% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 31%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for blanket exports from India, with a 46% 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 tons), sixfold. Germany (X tons) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+2.5% per year) and Germany (+2.2% per year).

In value terms, the United States ($X) remains the key foreign market for blankets and traveling rugs (except electric blankets) exports from India, comprising 55% of total exports. The second position in the ranking was taken by the UK ($X), with a 3.5% share of total exports. It was followed by Germany, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.9% per year) and Germany (+4.6% per year).

Export Prices by Country

In 2022, the average blanket export price amounted to $X per ton, shrinking by -24.9% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, blanket export price decreased by -25.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 an increase of 21% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Blanket Imports

Imports into India

In 2022, approx. X tons of blankets and traveling rugs (except electric blankets) were imported into India; waning by -27% against the year before. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 41% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, blanket imports reduced remarkably to $X in 2022. Overall, imports recorded a pronounced setback. The growth pace was the most rapid in 2014 with an increase of 36% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main supplier of blanket to India, with a approx. 109% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -5.2%.

In value terms, China ($X) constituted the largest supplier of blankets and traveling rugs (except electric blankets) to India.

From 2012 to 2022, the average annual growth rate of value from China totaled -4.2%.

Import Prices by Country

The average blanket import price stood at $X per ton in 2022, surging by 3.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the average import price increased by 14%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.1% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :