Polyester is a good insulating material, cheap, and highly durable, especially when compared with feather filling or cotton duvets. Another major reason behind the popularity of polyester duvets is that these are low maintenance products. However, polyester duvets are not very popular at the residential front, because polyester fiber is hydrophobic and a chemical textile fiber that is non-renewable in nature. In order to compensate for this, micro denier polyester fibers and hollow fibers are being introduced into the market. Microfiber duvets are similar to the natural feel of feather and down duvets, yet, not as dense as them. Another important factor promoting the sales of microfiber duvets is their affordability. On the back of these factors, global sales of duvets are expected to top US$ 2 Bn in 2031. According to the report by Persistence Market Research, the duvet market is estimated to register a steady CAGR of more than 3% over the forecast period of 2021-2031.
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“Anytime-Anywhere” is the latest trend that has caught the consumer goods vertical and the scenario is expected to be the same even in the forecast period. This could be attributed to the influx of online advertising and communications channels such as voice assistants and podcasts, which are lowering the entry bars for competitors. Also, online vertical integration is on the anvil.
This calls for big box stores, beauty product manufacturers, and grocers operating on lucrative private labels that prove to be cost-effective as compared to standalone brands. As such, the key stakeholders need to fend off the competition out of vertically integrated solutions with proper combination of the promotional strategies. Persistence Market Research has its diligent team of analysts and consultants to bring the nitty-gritties of consumer goods vertical with the insights in this regard.
Key Takeaways from the Study
- The market is moderately fragmented, resulting in moderate bargaining power of customers, due to a large number of unorganized players in this space. Key market players are involved in marking their direct presence in local markets through mergers and collaborations with regional players.
- Persistence Market Research identifies Europe as the largest market for duvets, with a share of around 43% by 2031, followed by North America, attributable to the fact that, customers across these regions have a higher spending index, and give prime importance to convenience and comfort.
- Natural duvets dominate the market, mainly because of consumer preference for down and feather filling duvets. Synthetic duvets, especially microfiber and polyfiber duvets, are being preferred by consumers, and are likely to experience hike in demand over the forecast period.
- By bed type, the queen size category accounts for a larger share as compared to the rest of the bed types, primarily because of the popularity of queen size beds.
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- Recording a CAGR of more than 4%, online retailing is becoming a well-liked channel for sales. Online shopping is trending due to the convenience it offers consumers and sellers. Time to market, cost-savings, and scale being the major advantages of online sales; daily used appliances have gained increased demand.
- After initial logistic hiccups due to the onset of COVID-19, demand for essential consumer goods is soaring. A prime reason for dip in sales of duvets was due to lockdowns that affected the hospitality sector.
- Sales of duvets across China are slated to expand, in value, at a CAGR of close to 5% from 2021 to 2031.
Key Market Players
The report underlines groundbreaking insights into the competitive scenario of the duvet market, along with highlights of the differential strategies used by manufacturers. Some of the key players identified across the value chain include Sheela Foam Ltd., Hanesbrands Inc., Ohn Cotton Group Ltd., DYKON A/S, Hollander Sleep Products, The White Company, Slumberdown, Duvet Pillow & Linen Co., Old Europe Duvet Company, and Brooke + Wilde Limited, among others.
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