The worldwide market for rainwear is anticipated to expand at a CAGR of 5% between 2024 and 2032. The market is primarily driven by the rising popularity of rainwear as a fashion trend, as well as the growing use of rainwear by the global labor force. As a fashion statement, rainwear has grown in importance among millennials. The color-blocking street fashion trend is gaining market dominance and expanding. In addition, the innovative designs of translucent lace raincoats and water-repellent trench coats are gaining popularity. As a result, the market is anticipated to expand significantly over the coming years. The industry of rainwear has been negatively impacted by COVID-19. As a result of store closures caused by quarantine and lockdown regulations, COVID-19 pandemic sales were drastically reduced. The pandemic negatively impacted the production and offline sales of rainwear in numerous infected nations, including China and India.
In addition, the epidemic scenario has prompted individuals to spend more judiciously and refrain from making unnecessary purchases. In addition, the increasing demand for raincoats among working women around the world is anticipated to generate numerous opportunities for market growth. According to data from the World Bank, women will constitute 39.3% of the global labor force in 2021. In addition, the growing popularity of fashionable rainwear among women and men is expected to contribute to the growth of the market over the forecast period. Moreover, the expansion of outdoor recreational activities such as hiking, camping, and running, among others, will increase demand for rainwear during the forecast period. According to the 2021 Outdoor Participation Trends report, 53% of Americans aged 6 and older participated in outdoor recreation at least once in 2020, the highest participation rate ever recorded. In 2020, 160.7 million American adults participated in at least one outdoor activity. Approximately 7,1 million more Americans participated in outdoor activities in 2020 than in 2019. Approximately 81% of Europeans participated in outdoor activities in 2020, per a study conducted by ISPO on outdoor consumers in 2021. Hiking was the outdoor activity with the most participants, followed by running, cycling, trekking, and mountaineering. Moreover, according to the ISPO report, hiking and running will be the most popular outdoor activities in Europe in 2020 (39% and 33% of respondents, respectively), followed by cycling tours.
An increasing number of millennials participate in outdoor and recreational activities such as hiking, mountain biking, and climbing. This has increased the demand for rain gear. The United States and Europe, among other developed nations and regions, have a long history of outdoor recreation. In 2020, approximately 53 percent (160,7 million) of the U.S. population aged six and older participated in at least one outdoor activity, according to the Outdoor Industry Association (OIA). In 2020, approximately 7.1 million more Americans than in 2019 will participate in outdoor recreation. In recent years, a number of countries around the world have experienced excessive rainfall and flooding due to erratic weather patterns. It is anticipated that this will increase demand for raincoats and suits during the forecast period.
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Increased demand for fashionable, contemporary rainwear that is waterproof, lightweight, warm in extreme temperatures, and durable is expected to drive the rainwear market during the forecast period. The demand for rainwear made from recycled PET plastic or nylon is increasing due to a global increase in environmental consciousness. A consistent increase in the number of commuters, including workers, office bearers, students, and businessmen, is also anticipated to drive demand for rainwear over the forecast period.
Urban commuters consider public transportation to be time-consuming. This encourages them to commute to work using privately owned automobiles, bicycles, and motorcycles. As a result, they have purchased clothing to protect them from external elements like heat, wind, dust or pollution, cold, and precipitation while driving in heavy traffic. As a result, the global adoption of rainwear, such as motorcycle rainwear, among commuters has increased. Customers choose different types of rainwear for a variety of weather conditions. This is likely to inspire manufacturers to create new styles and patterns of rainwear.
By product type, the global market for rainwear is segmented into rain jackets, rain pants, and rain suits. The segment of raincoats is anticipated to hold a significant market share during the forecast period. During the forecast period, it is expected to increase significantly. The popularity of rain suits is largely attributable to the introduction of innovative jackets that are waterproof, breathable, water-resistant, and wind-resistant by the leading manufacturers of raincoats. Demand for 3-in-1 jackets with multiple layers, shells, and materials is also contributing to market expansion. People who use bicycles for commuting, camping & hiking, and other outdoor activities are likely to increase demand for rainwear like rain suits and rain pants.
By material, the global rainwear market has been divided into the polyester fabric, nylon, vinyl, Gore-Tex, blended fabric, and others. The blended fabric segment is expected to grow at a significant CAGR during the forecast period. Blended-fabric rainwear offers a variety of advantages to end-users in all seasons and climates. Manufacturers are focusing on increasing the production of rainwear made from blended fabrics in order to increase revenue. Key players have introduced multiple-layer designs composed of composites of materials such as wool, cotton, silk, and down and coated with waterproof or water-resistant fabric. Polyester and nylon fabric segments are also anticipated to grow at a significant CAGR during the forecast period.
In 2023, the category of jackets dominated the market and generated 53% of global revenue. High demand for jackets among working professionals, athletes, young people, and motorcyclists drives the market. The demand for raincoats is increasing due to improvements in product design and availability. In addition, the growing demand for rain jackets and coats among the global working class is a major factor propelling the industry. It is anticipated that the segment of suits will have the highest CAGR between 2024 and 2032, at 17.5%. The growing demand for rain gear among cyclists, working professionals, and others contributes to the market's expansion. Its affordability and convenience will encourage cyclists to utilize it in the near future. The increasing popularity of outdoor activities is anticipated to accelerate the growth of the rain suit market. Flexibility and cost-effectiveness are two additional factors that are anticipated to create opportunities for this market segment during the forecast period.
In 2023, male end-users dominated the market and accounted for 45 percent of global revenue. The market is primarily driven by the large number of men who engage in recreational activities and the large number of men who wear rainwear to work around the globe. Additionally, the primary segment of rainwear's commanding market share was bolstered by the availability of a variety of product designs and categories. The women's segment is expected to grow at a CAGR of 6% between 2024 and 2032, making it the segment with the fastest growth. The rising demand for rain suits among women working professionals and the expanding fashion trend of rainwear among the female population are two of the major factors driving the market growth. Moreover, the number of product launches by kids' segment manufacturers is expected to increase significantly over the forecast period, causing the kids' segment to expand significantly.
In 2023, offline distribution channels represented 65% of global revenue and dominated the market. The most prevalent method of distribution for rainwear is through stores carrying a variety of brands and styles. Prior to making a purchase, consumers can select from a variety of brands at these businesses. Typically, supermarkets offer discounts and other incentives to attract customers and boost product sales. They serve as distribution centers for their parent companies and offer an extensive assortment of brands in one location. Offline distribution held the largest market share due to the availability of a vast selection of products and the convenience of offline distribution.
The online distribution channel is anticipated to experience the greatest growth over the forecast period. The increasing popularity of e-commerce channels is likely to result in substantial market growth prospects as a result of a broader distribution network and increased product availability. In addition, manufacturers of rainwear are collaborating with e-commerce companies to sell their products via online channels, which will create substantial growth opportunities for the segment in the near future.
Asia-Pacific dominated the market for rainwear in 2023, accounting for forty percent of global revenue. China and India's large working populations contributed to the region's market expansion. In addition, the increasing popularity of outdoor activities increases the regional demand for rainwear. In 2021, 62.1% of Australians aged 15 to 55 participated in outdoor sports, according to Sports Australia's Emerging Sports Participation Trends Report. The most popular outdoor activities in Australia are walking, running, and jogging, followed by cycling, fishing, and mountain biking. During the forecast period, the North American economy is anticipated to grow at a CAGR of 5%. The market is primarily driven by the increasing demand for rainwear in outdoor activities such as running, hiking, and motorcycling. The Outdoor Foundation commissioned the 2021 Outdoor Participation Trends Report, which revealed the highest participation rate ever for Americans aged 6 and older who engaged in at least one outdoor activity in 2020. The most popular sports in the United States, according to the report, are running, jogging, trail running, and hiking, followed by fishing, road biking, and cycling.
Due to the rapidly expanding customer base, prominent market players are likely to focus on international expansion. To maintain competitiveness, it is anticipated that key market participants will invest in research and development over the forecast period. Patagonia, Inc., Columbia Sportswear Company, The North Face (VF Outdoor LLC), Wildcraft India Private Limited, NZ Seasonalwear Pty Ltd, and Stutterheim, Ducktail Rainwear, Marmot Mountain, LLC, Marmot Mountain, LLC, Outdoor Research (Amer Sports Corporation), Arc'teryx (Amer Sports Corporation), and others notable players are some of the major players in the global rainwear market.
