Rainwear Market Share, Size, Trends, Industry Analysis Report, By Product Type (Jacket, Suits, Pants, and Others); By Material; By End-User; By Distribution Channel (Online, Offline); By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 112
- Format: PDF
- Report ID: PM3413
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global rainwear market was valued at USD 3.84 billion in 2022 and is expected to grow at a CAGR of 5.4% during the forecast period. A textile product known as rainwear serves to shield the body and clothing from the weather. Rainwear is gaining popularity as monsoons are getting changing rapidly. Common examples of rainwear products include raincoats, rain jackets, and rain boots. The fabric used to make the clothing and its design determine the quality and longevity of the rain wear. The different materials utilised for creating rainwear are nylon, polyester, and vinyl. Rainwear is conveniently offered on both retail and online platforms. The very minimal rates of rainwear goods contribute to the market's increased accessibility and demand.
To Understand More About this Research: Request a Free Sample Report
Particularly among millennials, rainwear market has gained popularity as a fashion statement. Colour blocking is becoming increasingly popular in street fashion trends. Due to their creative designs, water-resistant trench coats and transparent lace raincoats are also gaining in popularity. As a result, the market is anticipated to experience rapid growth in the years to come.
Furthermore, a huge number of local producers and significant players have left the market very diversified. In October 2021, in partnership with Swedish rainwear specialists Tretorn, Arket introduced its first line of rain wear for the fall/winter of 2021. Arket and Tretorn's limited-edition collection of water-resistant clothes and other items reimagines coats for men, women, and children that are modelled after rugged raincoats and old fishermen's parkas that you could discover in the Swedish countryside. Due to the rise in usage and population, the market for rainwear has seen tremendous growth and is predicted to continue growing rapidly in the next years.
Moreover, advancements in waterproof fabrics and design components like pouches and ventilation, raincoats are now cosier and more watertight than before. The different classifications of water-resistant jackets provide a different amount of protection. The difficulty of Every outdoor wear manufacturer has the development of effective rainwear without the use of cancer-causing perfluorocarbons (PFCs) as a top priority. Wearing breathable rain wear helps sweat escape from the skin while keeping you dry. For those who engage in physical activity that stimulates their limbs and lungs, this form of equipment is excellent.
However, rainwear is quite popular and expensive, which has led to the emergence of counterfeit brands, which are typically common in developing economies with price-conscious consumers. The sale of current original Rainwear items in these economies is hampered by this problem. The COVID-19 outbreak has had a significant effect on the rainwear industry.
For Specific Research Requirements, Request a Customized Report
Industry Dynamics
Growth Drivers
The market is primarily driven by the expanding fashion trend of rainwear as well as the expanding use of rainwear among working populations around the world. Additionally, it is projected that the rising demand for raincoats among working women globally would offer a variety of opportunities for market advancement. The World Bank estimates that in 2021, women will make up 39.3% of the global labour force. In addition, the population's growing desire towards trendy rainwear is expected to support the market's expansion throughout the anticipated time frame.
Throughout the projection period, the demand for fashionable, contemporary rainwear that is waterproof, lightweight, warm in extremely cold weather, and durable is anticipated to rise. Worldwide demand for environmentally friendly rainwear produced from recycled PET plastic or nylon is rising as environmental consciousness grows. It is also projected that a steady increase in the number of commuters, including employees, office workers, students, and businesspeople, will fuel the demand for rainwear.
Furthermore, public transit is time-consuming from the perspective of city commuters. This encourages individuals to choose privately owned vehicles like automobiles, bikes, and bicycles for their daily journeys. As a result, they have been motivated to buy clothing to protect themselves from the elements while travelling in rough terrain, including heat, wind, dust, pollution, cold, and rain. Hence, the use of rain wear, such as motorcycle rainwear, has increased among commuters all over the world. Under various weather circumstances, consumers choose different forms of rainwear. This is probably going to inspire rainwear manufacturers to create new styles and patterns.
Report Segmentation
The market is primarily segmented based on product type, material, end-user, distribution channel, and region.
|
By Product Type |
By Material |
By End-User |
By Distribution Channel |
By Region |
|
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
Jackets product type segment is expected to witness the fastest growth over the projection period
The rising adoption of jackets across various age groups is the factor that is driving the market growth over the forecast period. Teenagers are adopting rain jackets more frequently as a result of the wide range of styles and designs that keep the wearer appearing fashionable even on rainy days. The considerable demand for jackets among working people, athletes, children, and bikers is what primarily drives the market. Because of advancements in product design and accessibility, there is a growing need for rain jackets.
The growing demand for raincoats and jackets among the working-class population around the world is another important element driving the sector. Hence it stands to reason that the demand for such goods will increase.
The suits segment dominates the market share. The market is expanding further as a result of the rising demand for rain wear among bicyclists, working professionals, and other groups. In the near future, factors like price and convenience will persuade bikers to use them. It is predicted that the growing popularity of outdoor activities would hasten the growth of the market. Flexibility and affordability are the other two important factors that are anticipated to create prospective prospects for this market sector during the forecast timeframe.
Men end user segment accounted for the largest market share in 2022
The market is primarily driven by the large percentage of men who participate in leisure activities and the large percentage of men who work as professionals and use rainwear globally. The biggest market share was also aided by the availability of a variety of product designs and categories in the primary rainwear segment. Also, the kid's segment is anticipated to expand significantly over the projection year as a result of the increasing number of product launches by kids' segment manufacturers.
Online distribution chaneel segment is expected to hold the significant revenue share
Buying tracksuits is frequently done through online retailers. This is due to the benefits of simple accessibility, including product quality information and home delivery options, as well as the advantages of online platforms. Also, a growth in the number of deals and discounts as well as increased online portal penetration encourage customers to buy tracksuits online.
One of the most popular distribution strategies is finding rainwear in stores that carry a variety of brands and designs. Customers at these locations have a large selection of brands to choose from before making a purchase. They provide a wide variety of brands in one location and serve as distribution hubs for parent firms. Hence, offline distribution held the biggest market share due to the availability of a varied product selection and ease of convenience.
The demand in North America is expected to witness significant growth
Manufacturers and distributors are expected to have a lot of opportunities to grow their operations in developing nations in North America as the trend towards wearing designer rainwear, colourful, and printed rainwear increases. In addition, region's rainwear industry is likely to benefit from consistent investment in manufacturing and equipment and developments in R&D.
The market is primarily driven by the rising demand for rainwear in a variety of outdoor activities, including running, motorcycling, and hiking. The 2021 Outdoor Participation Trends Study, which was commissioned by the Outdoor Foundation, showed that Americans aged 6 and over participated in outdoor sports at the highest rate ever seen in 2020.
Additionally, large working populations in China and India contributed to the expansion of the Asia Pacific market. In 2020, 62.1% of Australians between the ages of 15 and 55 participated in outdoor sports, according to the Sports Australia's Emerging Sports Participation Trends Report, published in 2021. Walking, running, & jogging was the most popular outdoor activities in Australia. It will tend to increase the product demand in this region.
Competitive Insight
Key players in the market include Arc’teryx, Black Diamond Equipment, Columbia Sportswear, Ducktail Raincoats, Fox Umbrellas, Marmot Mountain, NZ Seasonal Wear, Patagonia, Inc., Prince Rainwear, Stutterheim, North Face, and Wildcraft India.
Recent Developments
- In November 2022, Canada Goose Holdings said that the Ontario Securities Commission had granted the company exemption relief, allowing up to 10% of its publicly traded subordinate voting shares to be purchased through the New York Stock Exchange.
Rainwear Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2023 |
USD 4.04 billion |
|
Revenue forecast in 2032 |
USD 6.50 billion |
|
CAGR |
5.4% from 2022 - 2030 |
|
Base year |
2022 |
|
Historical data |
2019- 2021 |
|
Forecast period |
2022 - 2030 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2030 |
|
Segments Covered |
By Product Type, By Material, By End-User, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key Companies |
Arc’teryx, Black Diamond Equipment, Columbia Sportswear, Ducktail Raincoats, Fox Umbrellas, Marmot Mountain, NZ Seasonal Wear, Patagonia, Inc., Prince Rainwear, Stutterheim, North Face, and Wildcraft India. |
FAQ's
key companies in Rainwear Market are Arc’teryx, Black Diamond Equipment, Columbia Sportswear, Ducktail Raincoats, Fox Umbrellas, Marmot Mountain.
The global rainwear market expected to grow at a CAGR of 5.4% during the forecast period.
The Rainwear Market report covering key are product type, material, end-user, distribution channel, and region.
key driving factors in Rainwear Market are Surge in popularity of travel retail across the globe.
The global Rainwear market size is expected to reach USD 6.50 billion by 2032.
