Research Nester released a report titled “Umbrella Market: Global Demand Analysis & Opportunity Outlook 2027″ which delivers detailed overview of the global umbrella market in terms of market segmentation by product type, end user, application, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global umbrella market is segmented by product type into straight, folding, reverse, automatic, golf, and others. The folding umbrella segment is further divided into two-fold, and three & more fold. Among these segments, the three and more fold segment is anticipated to hold the largest market share owing to the foldable nature and small size of these umbrellas which provides greater portability to the user.
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The global umbrella market is anticipated to be valued at more than USD 7 Billion by 2025 and is projected to market a CAGR of around 2% over the forecast period 2019-2025. Factors such as the additional features added to the device, improved attributes and the numerous beneficial properties associated with the use of umbrellas are anticipated to promote towards the market growth.
Regionally, the global umbrella market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa regions. Among these regions, the North America umbrella market is projected to grab the largest market share by the end of the forecast period primarily on account of the increasing trade of umbrellas in the United States. The International Trade Center, in one of its statistics, stated that the imports of umbrellas in the United States peaked to USD 553,451 thousand in the year 2019 from USD 440, 625 thousand in the year 2010.
Growing Concern for Skin Cancer and Rising Popularity for Designer Umbrellas to Drive the Market Growth
The World Health Organization (WHO) in one of its statistics stated that around 132,000 melanoma skin cancers and in-between two and three million non-melanoma skin cancers occur every year around the world.
The harmful UV radiation from the sun causes skin cancer in human beings. Owing to the dynamic change in weather conditions, backed by factors such as global warming and others, there is a rising need amongst individuals for always carrying an umbrella with them. Umbrella saves an individual from the scorching heat of the sun and also prevents the skin from getting affected by the harmful UV radiations. On the other hand, umbrella manufacturers are adapting to the use of chemically advanced materials in the fabric of the canopy of the umbrella or other parts of an umbrella, which is allowing umbrella designers to design different types of umbrellas for various end use purposes. Such factors are anticipated to drive the growth of the global umbrella market during the forecast period.
However, concerns for the presence of numerous unorganized players, who offer umbrellas at a very low price, thereby hampering the profitability of the key players of umbrella, are some of the factors anticipated to restrain the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global umbrella market which includes company profiling of Recreational Equipment, Inc. (REI Co-op), Totes Isotoner Corporation, Alexander McQueen Trading Limited, GustBuster Umbrellas, Umbrellai, Inc., Cloud Nine Promotional Products, Repel Umbrella, RainStoppers Umbrellas, London Undercover, and Fujian Gentle Import & Export Trading Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global umbrella market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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