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Rainwear Market Trends

ID: MRFR//9289-HCR | 100 Pages | Author: Snehal Singh| November 2024

Rainwear Market Overview


Rainwear Market Size was valued at USD 1.85 Million in 2023. The Rainwear Industry is projected to grow from USD 1.9 Million in 2024 to USD 2.01 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.12% during the forecast period (2024 - 2032).


Rainwear Market Overview1
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Rainwear refers to a waterproof garment that keeps the clothes and body dry in the rain. Raincoats and jackets are some of the popular examples of rainwear products. A raincoat's ability to keep you and the clothes dry changes the material used in the making and the garment's design. They are affordable, thus causing an increase in the demand for these products. The global rainwear market has registered rapid growth in the last few years. The growth of the market is mainly attributed to the increase in demand and population across the globe.


Furthermore, the factors such as changing climatic conditions, the development of more effective rainwear, an increase in outdoor recreation enthusiasts, and an increase in working-class populations are also projected to boost the demand for these products over the forecasted era. However, the growing environmental awareness is the primary aspect likely to impede the market's growth over the coming years. Nevertheless, the wider range of options and new advances in rainwear design will offer lucrative opportunities worldwide.


COVID-19 Impact Analysis


The impact of COVID-19 has negatively affected the distribution and sales of different products across several industries. Many countries worldwide are under lockdown and have sealed their borders to control the spread of the virus. Due to several governments' new travel and gathering restrictions, many brands and retailers cancel orders from their supplier factories. As a result, many rainwear factories are suspending production and either firing or putting their employees on temporary leave. The impact of COVID-19 on logistics has disturbed the supply of raw materials. The impact of COVID-19 on logistics has disturbed the supply of rainwear raw materials. Owing to this, the production capacity has decreased and, thus, there is a shortage of products. For instance, Members of the Edhi Foundation in Pakistan are distributing raincoats and rubber boots to deliver emergency medical services due to a shortage of PPE. Doctors in India used raincoats to protect themselves while fighting the coronavirus.


Regional rainwear traders are facing a difficult time due to a decrease in demand for raincoats. People worldwide are slowly returning to normal following the lockdown, but raincoat sales remain low. The closing of schools, colleges, and offices has greatly affected the demand for raincoats. An increase in the cost of shipping and a shortage of labour has caused the price of raincoats to increase. The market is expected to grow at a relatively slower rate in the first couple of months and grow faster later on. For this reason, expenditures on rainwear are expected to be lower than earlier estimates.


Market Dynamics


The global rainwear market has witnessed moderate growth in recent years. The availability of a wide range of products and product design improvements has made the rainwear market attractive for customers. The rising participation in recreation activities, new advances in rainwear design, and a wider range of options in rainwear create an opportunistic market for players in the global rainwear market.


Drivers

  • Rising participation in recreation activities


Sports and recreation can create a community spirit that enriches the lives of individual members. Recreation activities provide many benefits, including improving health and well-being, empowering individuals, and building inclusive communities. Recreation, leisure, and sports activities often involve large numbers of people. Rising demand for lightweight, durable rainwear in sports is expected to impact market growth positively. Recreational activities like camping, biking, and mountaineering often occur in areas where unpredictable climate change or heavy rainfall creates difficult conditions. Rainwear products are used for extreme outdoor activities. This has led to the growth of the rainwear market.


Restraint

  • Growing environmental awareness


Companies are steadily introducing sustainable innovations in rainwear to help reduce their carbon footprint. A growing trend in the rainwear market is the reemergence of recycled polyester. Manufacturers are using recycled polyester to reduce the environmental impact. PFCs are pollutants that take a long time to break down in nature. Rainwear manufacturers are striving to reduce wastage of raw materials and re-use the resources to manufacture new rainwear products. Companies are developing recycled rainwear that's waterproof to give customers a sound environmental conscience when they go outdoors.


Opportunity:

  • New advances in rainwear design and a wider range of options


The development of waterproof materials and design features such as ventilation and pockets mean that rain jackets are more comfortable and watertight than ever. There are various grades of water-resistant jackets designed to provide a certain level of protection. The challenge of creating effective rainwear without the use of carcinogenic perfluorocarbons (PFCs) is at the forefront of every outdoor gear company's mind. Breathable rainwear keeps you dry while moving sweat away from your skin. This kind of gear is perfect for people participating in activities that get their limbs and lungs pumping.


Segment Overview


By Product Type


By product type, the global rainwear market has been segmented as rain jacket, rain suit, rain pant, and others. The rain jacket segment recorded the largest market share in 2021 and is expected to rise at a decent pace during the forecast period. The increasing demand for raincoats and affordability are anticipated to drive the demand for the global rainwear market.


By Material 


Based on material, the global rainwear market has been divided into nylon, polyester, vinyl, and others. The polyester segment accounted for the largest market share in 2021 and is expected to rise at a decent rate during the forecast period. Polyester fabric is strong, stain-resistant, wind-resistant, and mildew-resistant. Polyester's surface is water-repellant, making it easy to wipe mud and stains from the fabric. These properties of polyester are likely to drive the demand for the rainwear market.


By Distribution Channel 


By distribution channel, the global rainwear market has been segmented as online and Offline. The online segment recorded the largest market share in 2021 and is expected to rise at the highest rate during the forecast period. The use of mobile shopping, changes in shopping behaviors, and the availability of a wide variety of products are expected to drive the demand for the rainwear market.


By End User  


By end user, the global rainwear market has been segmented as men, women, and kids. The men segment recorded the largest market share in 2020 and is expected to rise at a decent pace during the forecast period. Despite being big spenders, women's rainwear sales are growing slower than men's and are anticipated to drive the demand for the rainwear market.


Regional Analysis


By region, the rainwear market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America held the largest market share in 2021. Asia-Pacific is projected to exhibit the highest CAGR during the review period.


North America


North America dominated the rainwear market in 2021 and is also expected to dominate the market during the forecast period. The textile industry is a major part of the US. economy, contributing to economic growth. The rise of designer rainwear and colorful, printed versions of the usual rainwear has created significant opportunities for rainwear manufacturers and distributors to expand their businesses in North America. Moreover, North America's rainwear market is expected to be fueled by steady investment in machinery and equipment and advances in research and development.


Asia-Pacific


Asia-Pacific is expected to grow at the fastest pace during the forecast period. The growth of the rainwear market in the Asia-Pacific region is anticipated to be driven by various factors, with countries such as China, Japan, and India are majorly driving the growth owing to several factors such as rising per capita disposable income coupled with the growing population. China has accounted for a significant market share in the Asia-pacific rainwear market in 2021 and is estimated to retain its dominance throughout the forecast period.


Competitive Landscape


The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as The North Face (US) and Timberland (US) dominate the global rainwear market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in R&D. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.


Prominent players in the global rainwear market are Stutterheim (Sweden), Columbia Sportswear Company (US), Ducktail (Lithuania), under armou (US), Helly Hansen (Norway), Rains (Denmark), Burberry (UK), Timberland (US), Prada (Italy), Arc'teryx (Canada), Mackintosh (UK), Fjallraven (Sweden), Carhartt (US), The North Face (US), Patagonia (US), Black Diamond Equipment (US), and Fox Umbrellas Ltd. (UK)


Recent Development



  • Sun Mountain announced Solace Capital Partners acquired it in March 2022- an industry leader in golf bags, pushcarts, and outerwear for some 40 years. As per Solace's website, the private equity firm concentrates on offering equity and debt to lower middle-market U.S. and Canadian companies dealing with complex situations. The company aims to invest USD20 million to USD100 million per transaction in the firms generating USD50 million to USD1 billion of revenue.

  • February 2022 – Canada Goose Holdings Inc. has announced that the Ontario Securities Commission approved the Company exemptive relief to enable buying up to 10% of its public float of subordinate voting shares via the New York Stock Exchange.

  • November 2021- Farmerrain, a Swedish clothing brand, has announced the use of BIOVYN™ PVC as a fraction of the company's sustainability strategy.


Global Rainwear Market Segmentation
Global Rainwear, by Product Type

  • Rain Jacket

  • Rain Suit

  • Rain Pant

  • Others


Global Rainwear Market, by Material



  • Polyester

  • Nylon

  • Vinyl

  • Others


Global Rainwear Market, by Distribution Channel



  • Online

  • Offline


Global Rainwear Market, by End User



  • Men

  • Women

  • Kids


Global Rainwear Market, by Region



  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Rest of Asia-Pacific



  • Rest of the World

    • Middle East

    • Africa

    • South America




Objectives of the Study


The objectives of the study are summarized in 5 stages. They are as mentioned below:



  • Market Size and Forecast:


To identify and estimate the market size for the global rainwear market segmented by product type, material, distribution channel, and end user by value (in US dollars). Also, to understand the consumption/ demand created by consumers of rainwear between 2022 and 2030



  • Market Landscape and Trends:


To identify and infer the drivers, restraints, opportunities, and challenges for the global rainwear market



  • Market Influencing Factors:


To find out the factors which are affecting the sales of rainwear among consumers



  • Impact of COVID-19:


To identify and understand the various factors involved in the global rainwear market affected by the pandemic



  • Company Profiling:


To provide a detailed insight on the major companies operating in the global rainwear market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.


Intended Audience



  • Rainwear Producers

  • Raw Material Suppliers

  • Retailers, Wholesalers, and Distributors

  • Governments, Associations, and Industrial Bodies

  • Investors and Trade Experts

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