Rainwear Market Estimated to Reach $1.86 Billion by 2030, Expanding at 6.0% CAGR

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 report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The global rainwear market 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.

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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.

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.

Rainwear market has witnessed steady growth in the recent years. North America and Europe are considered as mature markets and resulted in the growth in manufacturers' foothold in Asia-Pacific, such as India and China. Thus, most of the companies have shifted their production plants to China and other Asia-Pacific countries to reduce the manufacturing costs. Furthermore, adoption of branded and premium clothing witnessed a significant growth, owing to increase in population and economic stability in the aforementioned emerging markets.

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.

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.

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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.

Rainwear market has witnessed steady growth in the recent years. North America and Europe are considered as mature markets and resulted in the growth in manufacturers' foothold in Asia-Pacific, such as India and China. Thus, most of the companies have shifted their production plants to China and other Asia-Pacific countries to reduce the manufacturing costs. Furthermore, adoption of branded and premium clothing witnessed a significant growth, owing to increase in population and economic stability in the aforementioned emerging markets.

The global rainwear market is segmented based on end use into men, women, and kids. Men consumers dominate the global rainwear industry, owing to availability of wide variety of options in men fashion industry and their increase in interest toward upgraded styles. However, the women wear market enhanced with fastest pace. Some of the biggest celebrities, athletes, and other artists show increase in attention toward fashion and are collaborating with brands on social media.

Key benefits for stakeholders:

➢ The report provides quantitative analysis of the current rainwear market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing Rainwear market opportunities.
➢ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis and the market size & segmentation assist to determine the market potential.
➢ The major countries in each region are mapped according to their revenue contribution to the market.
➢ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the rainwear industry.

Reason to Buy Rainwear Market Report:

➢ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global Rainwear Market market.
➢ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
➢ The key findings and recommendations highlight crucial progressive industry trends in the Rainwear Market Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
➢ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
➢ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
➢ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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