Umbrella Market Outlook
According to the report by Expert Market Research (EMR), the global umbrella market size reached approximately USD 7.37 billion in 2023. Aided by the increasing awareness about UV damage and the rising prevalence of extreme weather events, the market is projected to grow at a CAGR of 2.2% between 2024 and 2032, reaching a value of around USD 9.02 billion by 2032.
An umbrella is a portable device primarily used by people to get protection from rain, sunlight, or other elements. These are available in various sizes, shapes, and designs to suit different purposes and preferences. Standard umbrellas are typically large enough to provide coverage for one or more individuals, while compact or folding umbrellas offer convenience for travel and storage.
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The umbrella market has seen remarkable advancements in both materials and design, leading to the production of umbrellas that are not only functional but highly sophisticated in terms of technology and durability. Modern umbrellas incorporate materials such as fibreglass for the ribs and shafts, which offer exceptional wind resistance while remaining lightweight. The canopy fabrics are often made from high-density water-repellent materials like pongee or Teflon-coated polyester, providing superior dryness and durability.
Additionally, innovative features such as automatic opening and closing mechanisms significantly enhance the umbrella demand in urban environments, where speed and efficiency are valued. Aerodynamically designed umbrellas that prevent inversion, even in high winds, are becoming increasingly popular, especially in regions prone to sudden weather changes. Moreover, UV-protective fabrics are being integrated to shield users from harmful ultraviolet rays, making umbrellas a year-round necessity against varying weather conditions. This is one of the key umbrella market trends.
Umbrellas have transcended their traditional role and are now viewed as a fashion statement, with consumers looking for designs that reflect their personal style. This demand has given rise to a vibrant market for customised umbrellas, where consumers can choose from a myriad of colours, patterns, and even bespoke prints. Designers and manufacturers are collaborating with fashion brands and artists to create limited-edition collections, further boosting the umbrella market expansion.
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Urban markets, in particular, display a strong preference for stylish, standout pieces that serve as both a functional item and a part of one’s visual identity. This trend towards customisation and fashionability is encouraging manufacturers to innovate continuously, pushing the boundaries of what an umbrella can represent. This is driving the umbrella market growth.
The global increase in extreme weather events, attributed to climate change, has led to more unpredictable and severe weather patterns, including increased rainfall and storms. This shift has heightened consumer awareness of the need for high-quality, durable umbrellas. The reliability of an umbrella during sudden downpours or storms can greatly affect consumer satisfaction and brand loyalty. As a result, manufacturers are focusing on strengthening the durability and functional design of umbrellas to cater to climates where severe weather is becoming the norm.
With the global travel and tourism market rebounding post-pandemic, there is a heightened demand for travel essentials, including umbrellas. Tourists often seek compact, lightweight, and easy-to-carry umbrellas that protect against both sun and rain, making them perfect travel companions. This need has spurred the development of miniaturised, foldable umbrellas that can easily fit into luggage or even a handbag, without sacrificing durability or effectiveness.
E-commerce has revolutionised the way consumers purchase products, offering consumers a vast selection of products from around the world at competitive prices. Online platforms have significantly enhanced the sales of the global umbrella market, as these e-commerce stores provide detailed product descriptions, customer reviews, and side-by-side comparisons, enhancing consumer confidence in making informed purchasing decisions.
The convenience of home delivery and easy return policies further encourage online purchases of umbrellas. As e-commerce continues to grow, umbrella brands are increasingly focusing on digital marketing strategies and optimising their online presence to capture a broader audience and meet consumer expectations in terms of variety and accessibility. This is anticipated to fuel the umbrella market expansion in the forecast period.
Umbrella Market Segmentation
The global umbrella market can be divided based on type, end use, distribution channel, and region.
Market Breakup by Type
- Straight
- Folding
- Automatic
- Others
Market Breakup by End Use
- Adult
- Kids
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global umbrella market. Some of the major players explored in the report by Expert Market Research are as follows:
- ShedRain Corporation
- Huifeng Umbrella Co., Ltd.
- Madeblunt USA, Inc.
- Swaine Swaine Group Limited
- GustBuster Umbrellas
- Totes Isotoner Corp.
- London Undercover Ltd.
- Fujian Fanhe Import & Export Trading Co., Ltd.
- Fox Umbrellas Ltd.
- Zhejiang Hongye Umbrella Co., Ltd.
- Others
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