Transparency Market Research delivers key insights on the global rainwear market. In terms of revenue, the global rainwear market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global rainwear market report.
In this market report, TMR predicts that increase in outdoor activities, improved product performance, increase in working class, and uncertain climatic conditions are some of the key factors driving the rainwear market worldwide. Besides, in the coming years, opportunity for the market exists in terms of product diversification based on regions. For instance, Asian countries have the highest number of motorbike users; therefore, rainwear suitable for bike riders is highly popular in the region. Similarly, European countries prefer rainwear suitable for cycling. The rise in outdoor activities is anticipated to create more opportunities for business growth during the forecast period. The rainwear market is highly fragmented with the presence of many regional and local players. Hence, entering new markets by merging with regional players is projected to be an effective business strategy during the forecast period.
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In terms of product type, the market has been divided into rain jacket, rain pant, rain suit, and others. Rain jackets are the preferred choice of consumers in various parts of the globe. Rain jackets are very popular among working professionals, youngsters, athletes, camping and hiking groups, bikers, etc. Rain suits are very convenient for bike riders and is also economical as compared to rain jackets. Hence, rain suits are projected to expand at a significant growth rate.
Based on size, the market has been segmented into small, medium, and large, where large and medium size rainwear is considered as the most saleable category of rainwear across the globe. The large size segment is projected to dominate the rainwear market during the forecast period. This segment is anticipated to expand at a significant growth rate during the forecast period.
In terms of material, the rainwear market has been categorized into polyester, nylon, vinyl, gore-tex, blended, and others. Blended and polyester fabric is most commonly used in various countries. These two segments have major share of the rainwear market across the globe. Based on application, the market has been segmented into bike riding, camping & hiking, and others. Bike riding is considered the dominant segment of the rainwear market in almost all the regions. Working professionals while commuting to their offices and individuals engaged in transportation, public or commercial transit, and touring, etc., use rainwear while riding bikes.
In terms of end user, men’s rainwear covers majority of market share. In terms of distribution channel, increasing adoption of online shopping trends is likely to fuel the share of online platforms in the overall rainwear market.
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Rainwear Market: Prominent Regions
Geographically, Asia Pacific led the rainwear market in 2018 and the region is expected to retain its dominance during the forecast period. China and India are considered the major markets for rainwear in the Asia Pacific region. Rise in trend of using designer rainwear, and colorful and printed rainwear is anticipated to create significant opportunities for manufacturers and distributors to expand their businesses in developing countries of Asia Pacific. In addition, Asia Pacific is a prominent market globally since it is an important manufacturing base for rainwear products.
Rainwear Market: Key Players
The competition landscape of the rainwear market is highly fragmented with leading players accounting for nearly 25% of the revenue share. Key players operating in the global rainwear market include Columbia Sportswear Company, The North Face, Patagonia, Black Diamond Equipment, Wildcraft, NZ Seasonal Wear Private Limited, Stutterheim, Ducktail Raincoats, Splashy Rainwear, WaterShed LLC., and New Aashi Rainwear.
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