FELTON, Calif., May 17, 2021 /PRNewswire/ -- The global Rainwear Market size is expected to reach USD 1.46 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 6.4% from 2021 to 2028.
What are Key Factors Driving the Rainwear Market?
An increase in brand recognition and arising working-class population in emerging economies, including China, are driving the market. Moreover, busy lifestyles and growing safety awareness among individuals are expected to expand the scope of clothing for protection during the rainy season.
Rainwear is considered to be an important accessory in the fashion world, thereby driving the market over the forecast period. The major factors responsible for market growth are increased disposable income in developing economies and increasing product demand. Furthermore, the availability of such products through online and offline platforms is the other factor contributing to market growth.
Rain jackets held the largest share of more than 35.0% in 2020. It is the most preferred choice of customers globally. The demand for rain jackets is projected to be high in the future due to the increasing number of working professionals. In addition, changing climatic conditions and increasing urbanization are driving the demand for rain jackets. This is anticipated to drive the segment over the forecast period.
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North America dominated the market with a revenue share of more than 35.0% in 2020 due to the high purchasing power of the consumers in the U.S. and Canada. As the North American market presents attractive opportunities for the consumer goods sector, it is projected to witness significant growth over the forecast period. Moreover, the increasing purchasing power of the consumers in this region is driving the market. Asia Pacific is estimated to be the fastest-growing regional market over the forecast period due to the rising demand for rainwear in China and India.
Key Questions Answered in the Rainwear Market Report:
- Which Region to Show Fastest Growth Rate From 2021 to 2028?
Asia Pacific is expected to register the fastest CAGR of 7.5% from 2021 to 2028 owing to the growing trend of rainwear in countries, including China and India.
- Why Rain Jacket Segment Captured the Largest Market Share by 2020?
By product, rain jacket captured the largest share of greater than 35.0% in 2020 owing to the increasing working women population at the global level.
- Why the Online Distribution Channel of the Rainwear Market Holds the Largest Share in 2020?
Online distribution channel held the largest share of more than 69.0% in 2020 due to the easy availability of product and ease in comparing features.
- What Key Strategies are Adopted by Key Companies for Rainwear Market Growth?
The establishment of partnerships to undergo sustainable developments and new product launches are some of the strategies utilized by industry participants to gain a competitive edge in the market.
Browse 85 page research report with TOC on "Global Rainwear Market" at: https://www.millioninsights.com/industry-reports/global-rainwear-market
Million Insights has segmented the global rainwear market on the basis of product, material, distribution channel, and region:
- Rainwear Product Outlook (Revenue, USD Million, 2017 - 2028)
- Rainwear Material Outlook (Revenue, USD Million, 2017 - 2028)
- Rainwear Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
- Rainwear Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- List of Key Players of Rainwear Market
- Fox Umbrellas Ltd.
- Prince Rainwear Pvt. Ltd.
- The North Face
- Black Diamond Equipment
- Prince Rainwear Pvt. Ltd.
- NZ Seasonal Wear Private Limited
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