Global Parasol Market Size By Product(Automatic Parasol, Artistic Parasol), By Application(Personal Use, Commercial), By Geographic Scope And Forecast

Parasol Market Size And Forecast

Parasol Market size was value at USD 4 billion in 2021, it is expected to reach USD 10 billion by the end of 2030, growing at a CAGR of 2.5% from 2023 to 2030.

Due to the many advantageous aspects of using umbrellas, as well as the enhanced characteristics of umbrellas and the extra features introduced to the product, the worldwide Parasol Market is booming. One of the most practical innovations ever made is the umbrella. The Global Parasol Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Parasol Market Definition

The companies that manufacture and distributes parasols comes under the parasol market. Devices resembling umbrellas called parasols are used to block the sun. This market is fueled by various factors including rising interest in outdoor recreational activities, fashion trends, and skin health awareness. Key market drivers include the hospitality sector, outdoor gatherings, and eco-friendly and sustainable goods. To accommodate various demands and tastes, parasols are produced from several materials and available in a variety of sizes, styles, and colors.

Parasols with built-in features like cooling fans and LED lights, as well as those that are waterproof and windproof are all available on the market. The hospitality sector, which buys parasols for outdoor seating areas and to create a welcoming environment for guests, is a prominent player in the market. Weddings and festivities that take place outside significantly increase the demand for parasols.

Global Parasol Market Overview

More and more people are realizing just how bad UV radiation is for their skin, and that's a big reason why the parasol business is booming! When folks understand the dangers of too much sun, they're definitely more open to investing in sun protection devices, like a good parasol. We're seeing a surge in popularity for specialized parasols – think those with built-in UV protection, or even eco-friendly and sustainable options. Plus, with restaurants and hotels needing outdoor shade, and everyone loving to spend time outside, the parasol market just keeps getting bigger!

Okay, so the parasol business faces some challenges. For one thing, people have lots of choices for sun protection these days – think sunscreen, hats, and other gear. Plus, let's be honest, parasols can be a bit of a pain to carry around, right? And if the weather turns nasty with strong winds or heavy rain, well, your parasol might not survive, meaning you'll need a replacement, costing you more money. Now, if you want a really good parasol, made with eco-friendly materials, it can be pretty pricey, which might turn off some budget-conscious shoppers. Finally, let's not forget that fashion is always changing, so what's popular today might be totally out tomorrow, and that can really impact the parasol industry.

It looks like the parasol market is really heating up! We're seeing more people wanting green and sustainable options, alongside those cool, smart parasols with built-in fans and LED lights. Manufacturers are also winning by offering tons of different designs and patterns to match everyone's personal style. Plus, with all the outdoor events happening and the hospitality industry needing them, there's a real opportunity for growth. And let's not forget the tech advancements – companies making high-quality, durable, and lightweight parasols that are easy to carry and offer great protection are definitely ahead of the game.

Global Parasol MarketSegmentation Analysis

The Global Parasol Market is segmented based on Application, Product, and Region.

Parasol Market, by Application

• Personal Use• Commercial

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. Parasols for personal usage have metal or wooden ribs to support them. The global female consumer base’s growing awareness of the parasol’s skin benefits is credited with the segment’s expansion.

Parasol Market, by Product

• Automatic Parasol• Artistic Parasol• Personal Parasol• Other

The personal parasols are dominating the parasol market. It can be analyzed that the increasing awareness of parasol it is increasing their demand in the market rapidly. Besides this, the automatic parasol is also easy to use due to which this segment is also witnessing higher growth.

Parasol Market, by Geography

• North America• Europe• Asia Pacific• Rest of the world

Global warming and heat waves are also accelerating the personal use parasol market. The Asia Pacific, Europe, North America, Middle East & Africa, and Latin America areas make up the global market for parasols. In the sector with a substantial market share, Asia Pacific is responsible for the market’s growth. The high temperatures that are experienced in Asia Pacific nations like India, Indonesia, Malaysia, China, Japan, South Korea, and other nations fuel the expansion of the industry in the area. Additionally, Asia-Pacific nations are the most negatively impacted by rising global temperatures, which is driving the market’s expansion.

Key Players

The “Global Parasol Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Totes Isotoner Corporation, Recreational Equipment Inc., Cloud Nine Promotional Products, Alexander McQueen Trading Limited, Umbrellai Inc., GustBuster Umbrellas, Manutti, Garden Art, IASO, Shadowspec, and MakMax.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2021, Shadowspec and Shelta Australia launched new parasol designs in the parasol market.

• In March 2021, Sun Garden announced to launch their collections of parasol with unique and innovative designs.

Report Scope

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Research Methodology of Market Research

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