Increase in the participation of recreational activities such as camping, hiking, biking, and mountaineering increase the demand for rainwear products, thereby driving the growth of the global rainwear market.
PORTLAND, Ore., Oct. 19, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Rainwear Market by Product type (Jacket, Suits, Pants and Others), Material (Polyester fabric, Nylon, Vinyl, and Others), End user (Men, Women, and Kids), and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global rainwear industry was estimated at $1.04 billion in 2020, and is anticipated to hit $1.86 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Drivers, restraints, and opportunities-
Increase in the participation of recreational activities such as camping, hiking, biking, and mountaineering increase the demand for rainwear products, thereby driving the growth of the global rainwear market. On the other hand, high prices and advent of counterfeit products impede the growth to some extent. Nevertheless, manufacturers of rainwear products have now started focusing on positioning their brands better to improve their sales. This factor is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic led to distorted supply chain and dearth of raw materials, which in turn impacted the global rainwear market negatively.
- However, the global situation is getting better and the market is anticipated to revive soon.
The jacket segment to retain the lion's share-
On the basis of product type, the jacket segment held the major share in 2020, garnering more than one-third of the global rainwear market. The extra layer of protection given by jacket keeps the wearer warm by trapping air as well as keeping out water. It is usually lightweight, waterproof, compact and easily packable. These factors propel the growth of this segment. The suits segment, however, is projected to cite the fastest CAGR of 6.5% throughout the forecast period, due to the fact that suits are often low in weight and free to move around.
The polyester fabric segment to dominate by 2030-
On the basis of material, the polyester fabric segment contributed to the lion's share in 2020, holding nearly half of the global rainwear market. This is attributed to the fact that this fabric is one of the most widely used fabrics in the world. At the same time, the nylon segment is projected to manifest the fastest CAGR of 6.6% from 2021 to 2030. This is because this synthetic polymer that is widely utilized in the production of a wide range of garments and consumer items.
North America held the major share in 2020-
By region, the market across North America dominated in 2020, garnering nearly one-third of the global rainwear market. Rise in trend of using designer rainwear apparel, and colorful and printed rainwear is anticipated to drive the growth of this segment. Simultaneously, the LAMEA region is expected to cite the fastest CAGR of 7.8% throughout the forecast period, due to the impact of growing urbanization and changing living habits of individuals in the province.
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Key Players in the industry-
- Prince Rainwear Pvt. Ltd.
- Stutterheim
- The North Face
- Black Diamond Equipment
- Patagonia
- Wildcraft
- NZ Seasonal Wear Private Limited
- Fox Umbrellas Ltd.
- Columbia Sportswear Company
- Ducktail Raincoats
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