May 02, 2022 13:35 ET | Source: Market Research Future Market Research Future
New York, New York, UNITED STATES
New York, US, May 02, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Rainwear Market Information by Product Type, Material, Distribution Channel, End User and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 1828.0 million by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 6.2% during the review timeframe.
Rainwear is waterproof clothing that keeps one's garments and body dry while it rains. Raincoats and coats are two common types of rainwear goods. The ability of a raincoat to keep you and your clothes dry heavily influences the textile used in its construction as well as the design of the garment. Because they are inexpensive, there is an increase in the price of commodities. The global rainwear market has expanded rapidly in recent years. The market's expansion is mostly due to an increase in consumption and population worldwide. Rainwear items are in high demand due to increased recreational activity involvement. Camping, riding, hiking, and mountaineering are common recreational activities in areas where climate change or significant rainfall is likely.
The eminent companies in the rainwear market are
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Sports and recreation can foster a sense of community that improves the participants' lives. Recreation, entertainment, and sports activities sometimes include big crowds. Recreational activities have numerous advantages, such as enhancing health and well-being, promoting independence, and fostering inclusive communities. The rising demand for ultra-light, durable rainwear in athletics will likely boost the market growth. Recreational activities such as camping, motorcycling, and mountaineering are frequently carried out in places where unexpected climate change or severe rainfall create hazardous conditions. Rainwear is worn for strenuous outdoor activities. As a result, the rainwear market has expanded.
Companies are constantly creating environmentally friendly rainwear products to decrease their carbon footprint. The revival of recycled polyester is a developing trend in the rainwear market. Companies are also producing waterproof recycled rainwear to provide clients with a responsible environmental conscience when they walk outside. To minimize the environmental footprint, manufacturers are employing recycled polyester. PFCs are contaminants that take a very long time to degrade in the environment. Rainwear makers are working hard to reduce raw material waste and re-use resources to create new rainwear products due to the sheer inflated prices and widespread appeal of rainwear products, common in developing nations where buyers are price-sensitive. This aspect makes selling current original rainwear items in these markets difficult.
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COVID-19 has had a negative influence on the amount and sales of many items across various businesses. Many countries worldwide are on lockdown and have closed their borders to prevent the virus from spreading. Many brands and retailers return items from their supplier factories due to new travel and gathering limitations imposed by numerous nations. As a result, many rainwear factories have halted production and either fired or placed their employees on leave. The influence of COVID-19 on logistics has disrupted raw material supply. Due to a drop in demand for raincoats, regional rainwear dealers are having difficulty. People worldwide are steadily returning to normalcy in the aftermath of the closure, but raincoat sales remain low. The closure of universities, schools, and offices has significantly impacted the need for raincoats. The price of raincoats has risen due to increased transportation costs and a labor shortage. The mounting awareness about carbon tax in the U.S. has helped to reduce greenhouse emissions in the rainwear market. This has sparked innovations in sustainable rainwear.
The rain jacket segment had the biggest market share and is predicted to grow reasonably throughout the forecast period. The growing need for raincoats and their affordability is expected to fuel demand for the worldwide rainwear market.
Polyester held the biggest market share and is predicted to grow reasonably throughout the forecast period. Polyester fabric is extremely durable, wind-resistant, stain-resistant, and mildew-resistant.
The online category has the largest market share and is expected to witness the fastest growth over the projected period.
The men's category held the biggest market share and is predicted to grow reasonably throughout the forecast period.
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North America dominated the rainwear market and is likely to continue to do so during the forecast period. The textile sector is an important part of the U.S. economy, contributing to growth. The popularity of creative rainwear and colorful, printed versions of traditional rainwear has offered numerous chances for rainwear producers and distributors to develop their operations in North America. Asia-Pacific is expected to increase at the fastest rate during the projection period. Rainwear market growth in the Asia-Pacific region is expected to be driven by various factors, with countries such as Japan, China, and India leading the way due to increased per capita disposable income and a growing population. Rainwear is becoming more popular as a fashion statement, particularly among millennial women. Color-blocking street style is gaining traction in the rainwear sector.
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