Newark, March 01, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.8 billion Rainwear market will reach USD 6.4 billion by 2032. The rising demand for raincoats among the world's working women is expected to create numerous prospects for market expansion. According to World Bank data, females will account for 39.3% of the global labour force in 2021. Furthermore, the rising demand for trendy rainwear among women and men is expected to contribute to market growth throughout the forecast period.
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Furthermore, expanding outdoor leisure activities such as hiking, camping, and running, among others, will drive demand for rainwear over the forecast period. According to the 2021 Outdoor Participation Trends study, 53% of Americans aged six and up participated in outdoor recreation at least once in 2020, the highest rate ever. 160.7 billion Americans aged six and up engaged in at least one outdoor activity in 2020. In 2020, around 7.1 billion more Americans participated in outdoor recreation than in 2019.
Key Insight of the Rainwear Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest Rainwear market share. The market is driven by rising demand for rainwear in various outdoor activities such as hiking, motorbiking, running, etc. The Outdoor Foundation commissioned the 2021 Outdoor Participation Trends Report, which found that Americans aged six and up engaged in outdoor recreation at the greatest rate ever in 2020. According to the poll, the most popular sports in the United States are running, jogging, trail running, and hiking, followed by fishing, road biking, and cycling.
Jackets dominated the market with the largest market revenue of USD 1.5 billion.
Jackets dominated the market with the largest market revenue of USD 1.5 billion. Jackets are in high demand among working professionals, athletes, young people, and bikers, driving the market. Rain jacket demand is rising as product design and availability improve. Furthermore, the increased demand for rain jackets and coats among the world's working-class population is boosting the sector.
Men accounted for the largest market share, with 52% and a revenue of USD 1.9 billion.
Men accounted for the largest market share, with 52% and a revenue of USD 1.9 billion. The increasing number of men who participate in leisure activities and the large number of men who work as professionals and utilize rainwear globally drive the market. Furthermore, the primary rainwear category's availability of different product designs and varieties contributed to the segment's significant market domination.
Offline accounted for the market's largest share, with revenue of USD 2.3 billion.
The Offline segment dominated the market, accounting for around revenue of USD 2.3 billion. Rainwear outlets of various brands and styles are among the most common distribution methods. Before making a purchase, customers at these shops can select from several brands. Supermarkets frequently offer discounts and other advantages to attract customers and increase product sales. They act as distribution hubs for parent companies, bringing together various products in one location. Offline distribution has the largest market share due to the availability of a diverse product range and the ease of convenience.
Read 230-page market research report,"Rainwear Market Size By Product (Suits, Pants, and Jackets), By End-User, By Distribution Channel, Regions, Global Industry Analysis, Share, Growth, and Trends. Forecast 2023 to 2032", published by The Brainy Insights
Advancement in Market
● In January 2022, Stutterheim and Ghostly International partnered to design raincoats. The unisex coat gives Stutterheim's light raincoat, which is excellent for warmer weather and transitional seasons, a Ghostly twist. It would have two front pockets, silver snap buttons, and a black cotton drawstring and be sold in small quantities.
Market Dynamics:
Driver: Rising Population
The rising working-class population, particularly in developing economies, and rising disposable income are the primary drivers driving the rainwear market's expansion. Furthermore, other growth determinants include the expansion and growth of the clothing and apparel industry, particularly in developing economies, and an increase in research and development activities.
Restraint: Heavy Material
One of the main reasons why users do not participate in outdoor sports while wearing rainwear made with oilcloth is that it is substantially heavier. Thus, users prefer to avoid wearing this rainwear for playing outdoor sports, restraining the market's growth.
Opportunities: Rising E-Commerce Platform
Long-term growth opportunities for the rainwear market will be offered by increased e-commerce platform penetration, a greater inclination to buy new and trendy products, changing consumer lifestyles, and rising globalisation and westernisation.
Challenge: Not Suitable for all Geographical Areas
The goods are only usable in geographical areas prone to rainfall, which would substantially hinder the long-term growth of the rainwear industry. Raw material price changes will further derail the rainwear market's growth rate.
Some of the major players operating in the Rainwear market are:
● Patagonia, Inc.
● The North Face (VF Outdoor LLC)
● Columbia Sportswear Company
● NZ Seasonalwear Pvt Ltd
● Wildcraft India Private Limited
● Ducktail Rainwear
● Stutterheim
● Arc’teryx(Amer Sports Corporation)
● Marmot Mountain, LLC
● Outdoor Research
Key Segments cover in the market:
By Product:
● Suits
● Pants
● Jackets
By End-User:
● Kids
● Women
● Men
By Distribution Channel:
● Online
● Offline
By Region
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The global Rainwear market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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