According to TechSci Research report, “Global Parasol Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Parasol Market stood at USD 1.78 billion in 2022 and is anticipated to grow with a CAGR of 5.7% in the forecast period, 2024-2028. The parasols market has witnessed significant growth and transformation in recent years, driven by a combination of changing consumer lifestyles, technological advancements, and a heightened focus on outdoor aesthetics.
The global parasols market has experienced robust growth, propelled by increasing consumer demand for outdoor furniture and accessories. The market size, measured in terms of revenue and unit sales, has shown consistent expansion as outdoor living becomes an integral part of modern lifestyles. The growth is not confined to residential consumers; the hospitality and tourism industry’s emphasis on creating appealing outdoor spaces has further fueled the market’s upward trajectory.
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The demand for parasols varies across regions, influenced by factors such as climate, cultural preferences, and economic conditions. Regions with warmer climates often exhibit higher demand for parasols, as individuals seek effective sun protection. In contrast, regions with diverse weather conditions may see a demand for parasols that offer versatility, including resistance to rain and wind. Understanding these regional nuances is crucial for market participants in tailoring their product offerings to meet specific needs. The pervasive trend of embracing outdoor living has been a major driver of the parasols market. Consumers increasingly view their outdoor spaces as extensions of their homes, creating cozy and aesthetically pleasing environments. Parasols, therefore, are not merely functional items but integral components in crafting inviting outdoor settings. This trend has prompted manufacturers to innovate in design, materials, and features to align with the evolving expectations of consumers seeking a seamless indoor-outdoor living experience.
Growing awareness of the adverse effects of ultraviolet (UV) radiation on health has propelled the demand for parasols with enhanced UV protection. Consumers are now more informed about the importance of safeguarding themselves from the sun’s harmful rays, driving the market toward parasols that provide effective sun protection. Manufacturers have responded by incorporating UV-resistant materials and technologies into their products, positioning parasols as essential tools for outdoor sun safety. The hospitality and tourism industry’s expansion has significantly influenced the parasols market, particularly in commercial settings such as hotels, resorts, restaurants, and cafes. Businesses in this sector recognize the importance of creating attractive outdoor spaces to enhance customer experiences. Parasols, with their dual functionality of providing shade and contributing to the overall ambiance, have become sought-after accessories in the commercial outdoor furniture landscape.
The Global Parasol Market is segmented into type, application, source, form, distribution channel, regional distribution, and company. Consumers are increasingly discerning when it comes to the quality and durability of outdoor furniture, including parasols. There is a growing demand for products that can withstand various weather conditions and retain their aesthetic appeal over time. This trend has led manufacturers to focus on using high-quality, weather-resistant materials and implementing rigorous quality control measures to meet consumer expectations for durability and longevity.
The Global Parasol Market is segmented into type, application, distribution channel, regional distribution, and company.
Based on application, the personal use segment emerged as the dominant player in the global market in 2022. Personal use parasols are a significant market driver for the expansion of the segment. Individuals typically buy and use parasols for personal usage to shade themselves from the sun.
Based on region, Additionally driving the personal use parasol industry is global warming and heat waves. The world market for parasols is divided into the following regions: Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific is driving market expansion in the industry with a sizable market share. The expansion of the sector in the Asia Pacific region is fuelled by the high temperatures that are experienced in countries like South Korea, Japan, China, India, Indonesia, and Malaysia, among others.
Major companies operating in Global Parasol Market are:
- Totes Isotoner Corporation
- Recreational Equipment Inc.
- Cloud Nine Promotional Products
- Alexander McQueen Trading Limited
- Umbrellai Inc.
- GustBuster Umbrellas
- Manutti
- Garden Art
- Shadowspec
- MakMax
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“The parasol market has experienced exponential growth in recent years, fueled by a surge in demand driven by changing consumer lifestyles. The increasing preference for outdoor living spaces, coupled with a growing awareness of the importance of UV protection, has propelled the market forward. Additionally, the expansion of the hospitality and tourism industry, coupled with innovative designs and technological advancements such as smart parasols, has further contributed to the robust growth. As consumers seek quality, durable, and aesthetically pleasing outdoor solutions, the parasol market continues to evolve, presenting new opportunities for manufacturers and shaping the way people experience and enjoy outdoor spaces.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Parasol Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Automatic Parasol, Personal Parasol, Artistic Parasol), By Application (Commercial, Personal), By Distribution Channel (Direct, Indirect), By Region, By Competition, 2018-2028”, has evaluated the future growth potential of Global Parasol Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Parasol Market.
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