Global Umbrella Market Report and Forecast 2024-2032

Global Umbrella Market Report and Forecast 2024-2032

Global Umbrella Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global umbrella market size reached a value of USD 7.37 billion in 2023. Aided by the growing awareness about the various harmful effects of exposure to sunlight for long periods of time, the market is projected to further grow at a CAGR of 2.2% between 2024 and 2032 to reach a value of USD 9.02 billion by 2032.

Umbrellas, essential tools for protection against rain and harsh sunlight, have evolved beyond their traditional use to become fashion accessories and promotional items. They come in various types, including compact, golf, and beach umbrellas, each designed to cater to specific needs and preferences. The versatility and functionality of umbrellas make them indispensable in both personal and commercial applications.

The increasing awareness of the health risks associated with prolonged sun exposure is driving the umbrella market growth. As consumers become more conscious of skin protection, there is a significant shift towards using umbrellas for UV protection, leading to a surge in demand for high-quality, UV-resistant umbrellas. Additionally, the rising trend of outdoor activities, including beach outings, picnics, and sporting events, has further contributed to the increasing popularity of umbrellas.

The expanding applications of umbrellas in various industries also play a significant role in propelling the umbrella market expansion. In the advertising and promotional industry, umbrellas are used as effective marketing tools. Companies often distribute branded umbrellas as promotional gifts, enhancing brand visibility and customer engagement. The tourism and hospitality sectors also extensively use umbrellas, particularly in outdoor dining areas, poolside settings, and beach resorts, to provide shade and comfort to guests.

The fashion industry is another key driver of the market. Umbrellas have become stylish accessories, with designers introducing trendy and fashionable umbrellas that complement various outfits. The growing consumer preference for aesthetically pleasing and innovative designs has led to the development of a wide range of designer umbrellas, further boosting the umbrella market share.

The market is also benefiting from the increasing demand for eco-friendly and sustainable products. The rising awareness of environmental issues has led to a growing preference for umbrellas made from sustainable materials, such as recycled fabrics and biodegradable components. Manufacturers are increasingly focusing on developing eco-friendly umbrellas to cater to the environmentally conscious consumer base, further augmenting the market growth.

The growing awareness of the health risks associated with UV exposure is a significant driver of the umbrella market development. Consumers are increasingly using umbrellas to protect themselves from harmful UV rays, leading to a surge in demand for UV-resistant umbrellas. The increasing popularity of outdoor activities such as beach outings, picnics, and sporting events is driving the demand for umbrellas. These activities often require portable shade solutions, making umbrellas a popular choice among consumers.

The use of umbrellas as promotional items is expanding, with companies leveraging branded umbrellas for marketing purposes. This trend is particularly prevalent in the advertising and promotional industry, where umbrellas are used to enhance brand visibility. The fashion industry's growth is contributing to the umbrella market. Umbrellas are increasingly seen as fashion accessories, with designers introducing stylish and innovative designs that appeal to fashion-conscious consumers.

Key market players are focusing on innovation and strategic collaborations to enhance their market presence and cater to the growing demand. The Asia Pacific region is expected to dominate the market, followed by North America and Europe. By addressing the challenges and capitalizing on the opportunities, the market is set to experience robust growth, providing ample opportunities for manufacturers and stakeholders to thrive in this dynamic market. The continuous evolution of consumer preferences and the increasing demand for multifunctional and stylish umbrellas will shape the future of the global umbrella market, driving innovation and growth in the years to come.

Market Segmentation

The 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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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.