Rainwear Market Size, Share & Trends Analysis Report By Product (Jackets, Pants, Suits), By End-user (Men, Women, Kids), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2023 - 2030
Rainwear Market Growth & Trends
The global rainwear market size is anticipated to reach USD 5,935.5 million by 2030, according expanding at a CAGR of 5.5% from 2023 to 2030 to a new report by Grand View Research, Inc., The rising demand for rainwear among working populations, rising outdoor activities, and the increasing fashion trends in rainwear are the major factors contributing to the growth of the market.
The COVID-19 outbreak is negatively impacting the market for rainwear across the globe. Store closures due to lockdown measures have resulted in grim consequences, with sales of rainwear products from offline channels declining consistently. Majorly, the physical outlets were severely affected due to restrictions, government guidelines, and lockdown situations as consumers were forced to stay at home to avoid the surge in the spread of the disease.
Design innovation is another lucrative space that manufacturers can target to achieve a stronger brand reputation. Rain jackets, coats, and suits offer a wide scope for product differentiation in terms of customization, size, color, and fabric quality. Thus, design innovation offers attractive business opportunities. The increasing trend of people towards customized equipment is anticipated to provide further opportunities for manufacturers to gain a larger market share.
The offline distribution channels dominated the market and accounted for a 65.7% share of the global revenue in 2022. The key strategies used by these channels to increase sales and foot traffic in any store include a large assortment of products, promotions, and discounts that entice more people. Additionally, customers frequently go inside a store to physically examine how the products were made, how useful they are, and what makes them special because these physical inspections increase their trust in making a purchase.
Asia Pacific dominated the market for rainwear and accounted for a 39.4% share of the global revenue in 2022. Growth in the market is powered by a high working population using rainwear in China and India. Moreover, the rising recreational activities in Australia, Japan, and other countries also provide ample growth opportunities to the market
Rainwear Market Report Highlights
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