Parasol Market to Grow with a CAGR of 5.7% Globally through to 2028
Increasing demand for sun protection products, especially in women and
children and growing popularity of outdoor activities are factors driving the
global parasol market in the forecast period 2024-2028.
According to TechSci Research report, “Global Parasol
Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Parasol Market stood at USD 1.78 billion
in 2022 and is anticipated to grow with a CAGR of 5.7% in the forecast period,
2024-2028. The parasols market has witnessed significant growth and
transformation in recent years, driven by a combination of changing consumer
lifestyles, technological advancements, and a heightened focus on outdoor
aesthetics.
The global parasols market has experienced robust
growth, propelled by increasing consumer demand for outdoor furniture and
accessories. The market size, measured in terms of revenue and unit sales, has
shown consistent expansion as outdoor living becomes an integral part of modern
lifestyles. The growth is not confined to residential consumers; the
hospitality and tourism industry's emphasis on creating appealing outdoor
spaces has further fueled the market's upward trajectory.
Browse over 26 market data Figures spread through XXX Pages and an in-depth TOC on "Global Parasol Market”
The demand for parasols varies across regions,
influenced by factors such as climate, cultural preferences, and economic
conditions. Regions with warmer climates often exhibit higher demand for
parasols, as individuals seek effective sun protection. In contrast, regions
with diverse weather conditions may see a demand for parasols that offer versatility,
including resistance to rain and wind. Understanding these regional nuances is
crucial for market participants in tailoring their product offerings to meet
specific needs. The pervasive trend of embracing outdoor living has been a
major driver of the parasols market. Consumers increasingly view their outdoor
spaces as extensions of their homes, creating cozy and aesthetically pleasing
environments. Parasols, therefore, are not merely functional items but integral
components in crafting inviting outdoor settings. This trend has prompted
manufacturers to innovate in design, materials, and features to align with the
evolving expectations of consumers seeking a seamless indoor-outdoor living
experience.
Growing awareness of the adverse effects
of ultraviolet (UV) radiation on health has propelled the demand for parasols
with enhanced UV protection. Consumers are now more informed about the
importance of safeguarding themselves from the sun's harmful rays, driving the
market toward parasols that provide effective sun protection. Manufacturers
have responded by incorporating UV-resistant materials and technologies into
their products, positioning parasols as essential tools for outdoor sun safety.
The hospitality and tourism industry's expansion has significantly influenced
the parasols market, particularly in commercial settings such as hotels,
resorts, restaurants, and cafes. Businesses in this sector recognize the
importance of creating attractive outdoor spaces to enhance customer
experiences. Parasols, with their dual functionality of providing shade and
contributing to the overall ambiance, have become sought-after accessories in
the commercial outdoor furniture landscape.
The Global Parasol Market is segmented into type,
application, source, form, distribution channel, regional distribution, and
company. Consumers are increasingly discerning when it comes to the quality and
durability of outdoor furniture, including parasols. There is a growing demand
for products that can withstand various weather conditions and retain their
aesthetic appeal over time. This trend has led manufacturers to focus on using
high-quality, weather-resistant materials and implementing rigorous quality
control measures to meet consumer expectations for durability and longevity.
The Global Parasol Market is segmented into type,
application, distribution channel, regional distribution, and company.
Based on application, the personal use segment emerged
as the dominant player in the global market in 2022. 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.
Based on region, Additionally driving the personal use
parasol industry is global warming and heat waves. The world market for
parasols is divided into the following regions: Asia Pacific, Europe, North
America, Middle East & Africa, and Latin America. Asia Pacific is driving
market expansion in the industry with a sizable market share. The expansion of
the sector in the Asia Pacific region is fuelled by the high temperatures that
are experienced in countries like South Korea, Japan, China, India, Indonesia,
and Malaysia, among others.
Major companies operating in Global Parasol Market
are:
- Totes Isotoner Corporation
- Recreational Equipment Inc.
- Cloud Nine Promotional Products
- Alexander McQueen Trading Limited
- Umbrellai Inc.
- GustBuster Umbrellas
- Manutti
- Garden Art
- Shadowspec
- MakMax
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“The parasol market has experienced exponential growth
in recent years, fueled by a surge in demand driven by changing consumer
lifestyles. The increasing preference for outdoor living spaces, coupled with a
growing awareness of the importance of UV protection, has propelled the market
forward. Additionally, the expansion of the hospitality and tourism industry,
coupled with innovative designs and technological advancements such as smart
parasols, has further contributed to the robust growth. As consumers seek
quality, durable, and aesthetically pleasing outdoor solutions, the parasol
market continues to evolve, presenting new opportunities for manufacturers and
shaping the way people experience and enjoy outdoor spaces.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Parasol
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Automatic Parasol, Personal Parasol, Artistic Parasol), By
Application (Commercial, Personal), By Distribution Channel (Direct, Indirect),
By Region, By Competition, 2018-2028”, has evaluated the future
growth potential of Global Parasol Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Parasol Market.
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