Global Rainwear Market Expected to Reach US$ 2.2 billion in Value Terms, anticipated to Expand at a 5.9% CAGR from 2023 to 2031: TMR Report

Wilmington, Delaware, United States, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The rainwear market is expected to incline at a 5.9% CAGR from 2023 to 2031, anticipated to reach US$ 2.2 billion by the end of the said forecast period.

As of 2022, the market was valued at US$ 1.3 billion. Rainwear is a vibrant and varied industry within the garment industry, with a focus on designing and providing clothes and accessories that reliably ward off rain and wet weather while maintaining both fashion and functionality.

Waterproof outerwear such as raincoats, rain jackets, waterproof boots, and other goods made specifically to keep people dry on rainy days are among the products available in the market. Functionality and aesthetic designs have been embraced by this expanding market.

The current cutting-edge materials and designs satisfy a range of tastes and requirements. The rainwear market offers products, from functional rain gear made for outdoor activities to stylish solutions that stand out, for various customer groups.

Regional differences in weather patterns necessitate more durable rainwear alternatives in regions prone to high rainfall. Weather patterns further have an impact on outdoor activities, emergency preparedness, and even fashion, which encourages people to look out for trustworthy rain protection. The rainwear market adjusts to changing weather patterns by providing innovative designs and materials to meet different weather-related demands and customer demands.

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Market Snapshot:

Key Takeaways from the Market Study

• Global rainwear market value likely to reach a valuation of nearly US$ 1.4 billion in 2023
• From 2022 to 2023, rainwear sales experienced a y-o-y expansion of over 6%
• By product type, rain jackets are expected to account for over 50% of the global revenue in 2023
• Rain suits & ponchos to experience heightened sales, registering a CAGR of around 8%
• By end-use, rainwear for men is expected to sell like hotcakes, accounting for over 40% of revenue
• Sales of women’s rainwear are expected to incline at a CAGR of nearly 6% through 2031
• From 2023 to 2031, the rainwear market is anticipated to expand nearly 1.6x
  

Key Trends fueling Sales of Rainwear

• Changing weather conditions manifested by greater rainfall, sudden storms, or extended wet seasons, impact the requirement for appropriate rain protection, and has a substantial impact on the global rainwear market. Rainwear items such as raincoats, umbrellas, and waterproof footwear experience higher demand during times of intense rainfall or moist weather.
• The rise in popularity of outdoor pursuits including running, camping, cycling, and hiking has had a huge impact on the rainwear industry. Enthusiasts of these activities are aware of the importance of specialized equipment to offer comfort and protection from changing weather conditions, particularly rain.

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Regional Analysis of the Rainwear Market

• Asia Pacific is expected to be a lucrative market for rainwear product sales, expected to generate a revenue share of around 40% in 2023. Huge population, climate changes, unseasonal weather patterns, and significant rainfall increases the rainwear market value in the region.
• North America is expected to emerge as another promising market. From 2023 to 2031, a CAGR of around 5.5% is projected for the market. The market is mainly driven owing to the growing demand for rainwear in various outdoor creativities such as hiking, motor biking, running, and others.

Competitive Landscape

Prominent rainwear manufacturers profiled in TMR’s report include:

• VF Corporation
• Columbia Sportswear Company
• Patagonia, Inc.
• Black Diamond Equipment, Ltd.
• NZ Seasonal Wear Private Limited
• Ducktail Rainwear
• Wildcraft India Pvt. Ltd.
• Stutterheim
• WaterShed LLC
• Splashy Rainwear USA
• Asahi Group
  

Key Market Developments

• On June 06, 2023, VF Corporation announced plans to launch operations at a new state-of-the-art distribution center in Ontario, California. The facility serves Vans® and The North Face® brands across owned retail shops, wholesale clients, and online commerce, making it VF's largest and most effective distribution center to date.

• In June 2023, Reliable Rainwear hired C Com Digital, a full-service technological digital marketing agency with a global presence, to build its branding, creative designs, digital marketing, and e-commerce strategies.

• On February 07, 2020, Xiaomi Youpin platform launched a new disposable raincoat, meant to shield one against unforeseen downpours. The Xiaomi Youpin platform is handling the sales and distribution, while Zhongke Hongrun Technology Co. Ltd. would handle the after-sales support.
  

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Key Segments Covered

Product Type

• Clothing
  • Rain Jackets
  • Rain Coats
  • Rain Pants
  • Rain Suits & Ponchos
  • Others (Jumpsuits, etc.)
• Footwear
  • Rain Boots
  • Rain Shoes
  • Duck Boots
  • Others (Rubber Galoshes, etc.)
• Others (Rain Hats, etc.)

Price

• Under US$ 50
• US$ 50 - US$ 100
• US$ 100 - US$ 150
• US$ 150 - US$ 200
• Above US$ 200
  

Material

• Polyester Fabric
• Nylon
• Vinyl
• Others (Gore-Tex, etc.)

End-Use

• Men
• Women
• Kids
  

Distribution Channel

• Online
  • E-commerce Websites
  • Company Owned Website
• Offline
  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Other Retail stores
    

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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