Global Parasol Market Size By Product(Automatic Parasol, Artistic Parasol), By Application(Personal Use, Commercial), By Geographic Scope And Forecast
Report ID: 273086|No. of Pages: 202
Global Parasol Market Size By Product(Automatic Parasol, Artistic Parasol), By Application(Personal Use, Commercial), By Geographic Scope And Forecast
Parasol Market Size And Forecast
Parasol Market size was value at USD 4 billion in 2021, it is expected to reach USD 10 billion by the end of 2030, growing at a CAGR of 2.5% from 2023 to 2030.
Due to the many advantageous aspects of using umbrellas, as well as the enhanced characteristics of umbrellas and the extra features introduced to the product, the worldwide Parasol Market is booming. One of the most practical innovations ever made is the umbrella. The Global Parasol Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Parasol Market Definition
The companies that manufacture and distributes parasols comes under the parasol market. Devices resembling umbrellas called parasols are used to block the sun. This market is fueled by various factors including rising interest in outdoor recreational activities, fashion trends, and skin health awareness. Key market drivers include the hospitality sector, outdoor gatherings, and eco-friendly and sustainable goods. To accommodate various demands and tastes, parasols are produced from several materials and available in a variety of sizes, styles, and colors.
Parasols with built-in features like cooling fans and LED lights, as well as those that are waterproof and windproof are all available on the market. The hospitality sector, which buys parasols for outdoor seating areas and to create a welcoming environment for guests, is a prominent player in the market. Weddings and festivities that take place outside significantly increase the demand for parasols.
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Global Parasol Market Overview
Consumer awareness of the damaging effects of UV radiation on skin health is one of the major factors driving growth in the parasol industry. People are more willing to spend money on sun protection devices like parasols when they become more aware of the dangers of extended sun exposure. This has caused a rise in interest in parasols made for certain uses, such as those with UV protection, as well as parasols that are sustainable and eco-friendly. The need for outdoor shade in the hospitality sector and the attractiveness of outdoor leisure activities both support the expansion of the parasol market.
Competition from substitute items like sunscreen lotions, hats, and other sun protection gear is one of the key factors limiting the growth of the parasol business. Also, some customers could find parasols cumbersome or difficult to transport, which could limit their use. Unfavorable weather conditions like strong winds and heavy rain can also harm parasols, raising the expense of replacement. The expensive price of high-quality parasols built with sustainable and eco-friendly materials may also reduce their attractiveness to consumers who are concerned about costs. Lastly, shifting consumer tastes and fashion trends, which may be erratic and hard to foresee, may have an effect on the parasol industry.
The market for parasols is now seeing growth in demand for green and sustainable products, as well as smart and innovative parasols with features like cooling fans and LED lighting. Manufacturers may also meet a variety of consumer demands by providing a selection of designs and patterns that go well with various tastes and fashions. Also, there are potential for market expansion due to the popularity of outdoor events and the need for parasols in the hospitality sector. The development of high-quality, robust, and lightweight parasols that provide exceptional protection and are simple to handle and transport is another way manufacturers may benefit from technology improvements.
Global Parasol Market: Segmentation Analysis
The Global Parasol Market is segmented based on Application, Product, and Region.
Parasol Market, by Application
• Personal Use
• Commercial
Personal use parasols are a significant market driver for the expansion of the segment. Individuals typically buy and use parasols for personal usage to shade themselves from the sun. Parasols for personal usage have metal or wooden ribs to support them. The global female consumer base’s growing awareness of the parasol’s skin benefits is credited with the segment’s expansion.
Parasol Market, by Product
• Automatic Parasol
• Artistic Parasol
• Personal Parasol
• Other
The personal parasols are dominating the parasol market. It can be analyzed that the increasing awareness of parasol it is increasing their demand in the market rapidly. Besides this, the automatic parasol is also easy to use due to which this segment is also witnessing higher growth.
Parasol Market, by Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Global warming and heat waves are also accelerating the personal use parasol market. The Asia Pacific, Europe, North America, Middle East & Africa, and Latin America areas make up the global market for parasols. In the sector with a substantial market share, Asia Pacific is responsible for the market’s growth. The high temperatures that are experienced in Asia Pacific nations like India, Indonesia, Malaysia, China, Japan, South Korea, and other nations fuel the expansion of the industry in the area. Additionally, Asia-Pacific nations are the most negatively impacted by rising global temperatures, which is driving the market’s expansion.
Key Players
The “Global Parasol Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Totes Isotoner Corporation, Recreational Equipment Inc., Cloud Nine Promotional Products, Alexander McQueen Trading Limited, Umbrellai Inc., GustBuster Umbrellas, Manutti, Garden Art, IASO, Shadowspec, and MakMax.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
• In January 2021, Shadowspec and Shelta Australia launched new parasol designs in the parasol market.
• In March 2021, Sun Garden announced to launch their collections of parasol with unique and innovative designs.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | VALUE(USD(BILLION)) |
| KEY COMPANIES PROFILED | Totes Isotoner Corporation, Recreational Equipment Inc., Cloud Nine Promotional Products, Alexander McQueen Trading Limited, Umbrellai Inc., GustBuster Umbrellas, Manutti, Garden Art, IASO, Shadowspec, and MakMax. |
| SEGMENTS COVERED | By Application, By Product and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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