Rainwear Market is Expected to Reach $47,615.4 Million by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Rainwear Market by Product Type, Material, End-Use, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”   

The global rainwear market size was valued at $1,045.0 million in 2020, and is projected to reach $1,862.6 million by 2030, registering a CAGR of 6.0% from 2021 to 2030.  

Apparels are those garments that feature and perform multiple functions apart from just their aesthetics and basic protection of the wearer. Rainwear has been gaining importance as a fashion statement, particularly among millennial men and women. The color-blocking street style trends are increasing and gaining strong ground in the market. Moreover, water-repellant trench coats and transparent lace raincoats are becoming popular due to innovative designs. Hence, the rainwear market is estimated to witness significant rainwear market growth during the forecast period.

The internet, the on-going trend of digitization, and social media platforms are a few factors expected to play a significant role in the growth of the global rainwear market in the future. The outbreak of COVID-19 pandemic has indicated the importance and need for digitization for the market players to survive in the market.

High prices and significant popularity of rainwear’s product lead to the advent of counterfeit brands, which are usually prevalent in developing economies where customers are highly price-sensitive. This factor hampers the sale of existing original rainwear products in these economies.

According to the rainwear market analysis, the rainwear market is segmented into product type, material, end user, distribution channel, and region. On the basis of product type, the market is categorized into jacket, suits, pants, and others. On the basis of material, it is fragmented into polyester fabric, nylon, vinyl, and others. Based on end user, it is segregated into men, women, and kids. Based on distribution channel, it is classified into online and offline. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Italy, Germany, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Indonesia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the UAE, Nigeria, Turkey, South Africa, and the rest of LAMEA).

On the basis of product type, the jackets segment was the highest contributor to the market. and is expected to sustain its dominance during the forecast period. Rain jackets are very popular among working professionals, youngsters, athletes, camping and hiking groups, bikers, among others.

A wide variety of rainwear is available depending upon the color of the rainwear & materials used and on-demand customization of the rainwear products. It is a popular choice of consumers across the globe due its wide range of varieties and easy availability in both offline and online channels.

On the basis of material, polyester fabric material is less expensive and its manufacturing involves less time. Polyester fabric material is most commonly used in various countries. It is considered as a sustainable alternative for people who do not prefer nylon and other material. Owing to large range of applications and advantages of such type of material, this segment is expected to exhibit a considerable growth rate.

Region-wise, North America dominated the rainwear market in 2020, and is expected to sustain its dominance during the rainwear market forecast period. The key factors driving the growth of the rainwear market in the region are high purchasing capacity of majority of the population and high demand for luxury and superior quality products.

The players operating in the global rainwear market have adopted various developmental strategies to expand their market share and increase profitability in the market. The key players profiled in this report include Fox Umbrellas Ltd, Prince Rainwear Pvt. Ltd, The North Face, Patagonia, Black Diamond Equipment, Wildcraft, NZ Seasonal Wear Private Limited, Stutterheim, Columbia Sportswear Company, and Ducktail Raincoats.  

Key findings of the study    

• By product type, the jackets segment held the highest share, accounting for 36.3% of the global rainwear market.   
• Based on end-user, the men segment held the major share of 47.3% of the market.
• Region wise, North America held the major share in the market, and is expected to remain dominant throughout the forecast period.