Rain coat is a water resistant coat worn to protect the body from rain. It is made from fabric designed to repel the water. Rain coats are sometimes referred to as rain suits. A rain jacket is generally combined with a pair of rain pants. Rain coats are lightweight and are useful for people during activities such as biking, hiking, camping, mountaineering, and other similar events where climate change or heavy rainfall is always a possibility.
The trend of increasing globalization has led to increase in sale of goods in most developing economies. Advancement in product design and availability of a wide range of products is resulting in high demand for raincoats. Rising working class population is also one of the major factors driving the growth of the rain coat market. Rain coats and other rain protective equipment are essential accessories that are taken during tours and trips to hill stations by people of all age groups. Consumers are spending considerably on purchasing outdoor apparel including rain coats to improve their outdoor experiences. Rising trend of participating in outdoor recreational activities is expected to boost the growth of the rain coat market during the forecast period. Affordability and flexibility are the two major factors expected to create growth opportunities for the global rain coat market over the forecast period.
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Rising environmental concerns is however restricting the growth of the rain coat market. Rain coats are made of plastic which cannot be decomposed easily and is a pollutant in the environment. The prices of these raincoat are very nominal which resulting into rising demand for raincoat market. Moreover, the market is highly fragmented due to the presence of a large number of local manufacturers as well as major players. Availability of substitutes such as rain umbrellas is also hampering the growth of the market.
The rain coat market can be segmented on the basis of product type, distribution channel, end-use, and geography. Based on product type, the market is bifurcated into plastic, nylon, and vinyl. Nylon is expected to lead the market due to preference among consumers for nylon because of its comfort and affordability. In terms of distribution channel, the market is categorized into online and offline. Offline channel is further bifurcated into retail stores and specialty stores. Online channel is expected to dominate the market owing to availability of wide variety of product at discounted price. On the basis of end-use, the market is segmented into adult and children.
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In terms of geography, the rain coat market is segmented into North America, Europe, Middle East & Africa, and South America. Asia Pacific is expected to dominate the market due to its climatic conditions. In Europe, rain umbrellas are often purchased as a gift or a fashion accessory. South America and the Middle East & Africa markets are estimated to show moderate growth during the forecast period.
Major players in the rain coat market are James Smith & Sons, Hangzhou Paradise Umbrella Group, Europesco Maglia, Swaine Adeney Brigg, Fox Umbrellas Ltd, and Gust Buster etc. These key players are anticipated to face many challenges in the coming years due to presence of a large number of local players. All major players are focusing on innovation of products and increasing their investment on research & development to reinforce their position in the raincoat market. Companies are adopting strategies such as joint ventures, and mergers and acquisitions with local players to remain competitive and to expand their product portfolio. In developing countries, manufacturers are focusing on reducing the production cost and increasing their profitability for the sustainable growth of their business.
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