Umbrella Market size is estimated to reach USD 5.8 Billion by the end of 2027, growing at a CAGR of 1.88% over the forecast period, i.e., 2023-2027. In the year 2022, the industry size of umbrella was USD 5.33 Billion. The growth of the market is primarily expected on account of sudden changes in the weather, such as too much sun, unpredictable rain, sudden snowing, and others. This has prompted individuals to turn to shade from these elements, fueling demand for umbrellas. Furthermore, according to the National Academy of Science, global warming raises the volume of water vapor in the air, which might lead to more frequent heavy rain and snowfall. The researchers discovered a 4.5 to 5.7 percent rise in normal daily rainfall on rainy days in the United States.
In addition to these, most skin cancers in the world are caused by too much exposure to UV radiation, which comes from the sun. The skin cells can be harmed by ultraviolet light, a form of invisible radiation. The CDC recommends seeking protection by means of an umbrella or a secure zone in this case. There is therefore a growing awareness about the importance of sun protection due to an increase in cases of skin cancer. Hence, the global umbrella market is driven by umbrellas which offer a portable and efficient way to shield oneself from harmful UV radiation at significantly reduced prices.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2027 |
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CAGR |
1.88% |
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Base Year Market Size (2022) |
USD 5.33 Billion |
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Forecast Year Market Size (2027) |
USD 5.8 Billion |
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Regional Scope |
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Product Type (Straight, Folding, Reverse, Automatic, Golf, Parasol)
Umbrella market from the folding segment is is expected to reach USD 1.2 billion by 2027, rising at a substantial CAGR of 1.17% between 2023 and 2027. In 2022, the segment was worth USD 1.1 billion. The growth of the segment can be attributed as folding umbrella is simply normal umbrellas that can be stored easily if you fold them. Though there are many designs to choose from, the folding basket umbrella is one of the most common. The tote umbrella is made to be unfolded and placed inside a bag for storage. Folding umbrellas are available in a number of sizes, ranging between 12 and 6 inches. Smaller folding umbrellas, for example a purse or car glove box, are designed to fit into small spaces. Accordingly, it is considered that a significant umbrella market share can be attributed to Folding Umbrellas.
User (Kids, Adults)
The adults segment in the umbrella market is projected to expand at a CAGR of 1.89% during the forecast period. Compared to children's umbrellas, adult umbrella is considered to be a large market share because of the higher usage rate among adults. A traditional or classical umbrella is most often chosen by men who seek an ideal umbrella to suit their needs.Owing to its deep dome and wide reach, the umbrella provides a unique cover. In addition, it can withstand strong winds and rainy weather because of its lengthy structure and strength in the spine. There's a wide variety of men's umbrellas out there, and they all have their advantages and disadvantages. In order to suit any taste or budget, women's umbrellas are available in a broad variety of shapes and styles. The umbrellas are more than useful in the rain or sunshine, they're aesthetic as well. Asian styles of parasols and umbrellas do not yet appear widely, although they are still popular on both sides of the globe especially for Chinese, Thai or Japanese.
Our in-depth analysis of the global umbrella market includes the following segments:
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Product Type |
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User |
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Distribution Channel |
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APAC Market Forecast
The umbrella market in Asia Pacific is projected to cross USD 2.9 billion by the end of 2027 by growing at a CAGR of 2.45% during the forecast period. The growth of the market can be attributed majorly to factors such as changing weather patterns, increasing awareness of sun protection and growing outdoor recreational activities that have contributed to the growth of the umbrella market. Due to their large population and increasing disposable income, this market is dominated by some big countries like China, India, Japan, South East Asian countries as well as South Korea. Consumer preferences are driven by innovations in design, durability and advanced materials. With 4.3 billion people living there, or 60% of the world's population, the Asia-Pacific area is home to China and India, the two most populous nations on earth.
Europe Market Statistics
The Europe umbrella market is estimated to be the second-largest by developing at a CAGR of 0.85% by 2037. The Europe market is expected to be worth USD 0.957 billion by the end of 2027, up from USD 0. 918 billion in 2022. The region's market growth and maturation are heavily reliant on the UV radiation trends have changed considerably over the last decades throughout Europe with some subregions experiencing increases and others decreasing. Due to climate change, there may be a higher level of UV exposure in certain EU subregions. The higher temperatures from climate change might drive more recreational activities and the removal of protective gear, thus leading to an increase in demand for umbrellas. For instance, the BIG MAX Aqua UV umbrellaing Europe can be used as parasol on the course, protecting from the sun’s harmful UV rays (50+). In addition to providing comfort and protection under the most demanding conditions, it is capable of using automatic functionality combined with soft grip and a layer of waterproof fabric.
Author Credits: Anil Kumar, Ipsheeta Dash
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