World - Umbrellas - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
China Produces 81% of the Global Umbrella Output
IndexBox has just published a new report "World: Umbrellas - Market Report. Analysis and Forecast to 2025". Here is a summary of the report’s key findings.
The Market Gradually Regained a Slight Growth Pattern Following a Period of Stagnation
In 2016, the umbrella market amounted to X units. Over the past two years, consumption increased slightly, after experiencing a mild downturn over the previous four year period. Previously, the market recovered with tangible growth, following the significant crisis-induced slump of 2009. In 2016, umbrella consumption appeared just below (approx X%) the peak figure achieved in 2010 and X% higher than the outset level.
According to IndexBox estimates, in wholesale prices the market stood at $X in 2016, growing with a CAGR of +X% per year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In value terms, the market continued to observe marginal growth following its recovery, stabilizing over the last three years.
The Umbrella Market Is Set to See Moderate Growth
Umbrellas constitute one of the necessary consumer items and are in demand worldwide; population growth and gradual improvements in the standard of living, therefore, are set to remain the key impetus factors driving demand.
Asia constitutes the most significant region in terms of global umbrella consumption, as a result of its climatic conditions and the widespread of use of handheld umbrellas as protection from the sun against unwanted sunburn. The strong influence from the fashion industry and the increasing popularity of expensive branded accessories are also promoting enhanced umbrella consumption. In Europe, there is a marked preference for rain umbrellas, often purchased as a fashion accessory or a gift. The demand for high-end fashionable women’s umbrellas is increasing, as fashion trends change and develop.
Overall, the umbrella market is projected to remain relatively stable: significant growth in terms of demand for this product is not forecast. The market is projected to grow at a rate of +X% a year for the period from 2016 to 2025, which is then expected to lead the market volume to X units by 2025.
China Remained the Major Consumer of Umbrellas
The countries with the highest consumption were China (X%), India (X%), Japan (X%), the U.S. (X%), Brazil (X%), Korea (X%), the Philippines (X%), the UK (X%), Canada (X%) and Mexico (X%). The other consuming countries together accounted for approx. X% of global consumption.
The highest annual rates of growth in terms of umbrellas consumption from 2007 to 2016 were recorded in the Philippines, with a +X% growth, India, with +X%, China, with +X% and Mexico, with +X%. Consequently, China significantly strengthened its share in terms of global consumption, from X% in 2007, to X% in 2016. India (+X percentаge points) also increased its share in total consumption, while the shares of Philippines and Mexico remained relatively stable over the analyzed period. By contrast, the shares of Japan (-X percentage points) and Germany (-X percentage points) declined over the period under review.
Amongst the leading consuming countries, high levels of per capita consumption were recorded in Japan (X unit/X), Canada (X unit/X), Korea (X unit/X), which were significantly higher than the world average of X unit/X. In these countries per capita consumption observed a multidirectional trend pattern; in China, where per capita consumption exceeded the global average by almost a twofold figure, it continued to increase.
China Produced X% of the Global Umbrella Output
The global production of umbrellas totalled X units in 2016. Production in recent years has remained relatively stable, after contracting slightly over the previous three year period. From 2010-2011, production increased sharply, thereby offsetting the impact of the weak production figures seen in 2009. As China remains a key manufacturer of umbrellas, the trend pattern in terms of global output is determined by the performance of the Chinese umbrella industry. In 2016, China produced X units, which equates to X% of global production. Increasingly moderate demand and a decline in trade intensity have recently predetermined more modest output in China in recent years. However, in China, there are entire cities that specialise in the manuafcture of this product. Other key umbrella manufacturers can be listed as follows: India (X%), the U.S. (X%), Canada (X%), Viet Nam (X%), Japan (X%) and Sri Lanka (X%).
A High Trade Intensity Remains Typical of the Umbrella Market
Umbrellas will continue to be highly traded, due to the high concentration of capacity figures in China, India and Europe. The share of exports in global production fell from X% in 2007, to X% in 2016, due to the declining growth in terms of umbrella production and increasing domestic demand in some of the major exporting countries. China, a major global exporter of umbrellas, boasting an X% share in total exports, is increasing its own consumption, mainly by redirecting a proportion of its previously exported product to the domestic market.
China Dominates the Global Umbrella Exports
In 2016, the volume of global exports totaled X units, declining mildly from the peak figure observed in 2011, with the exception of occasional fluctuations seen in 2014. Previously, the export volume recovered from 2010 to 2011, after a decline over the previous two years. In value terms, exports amounted to $X, $X (or X%) less than the previous year.
China (X units) dominates as a major the global supplier of umbrellas, with a share of X% of global exports. The following exporters, Germany (X units), Hong Kong (X units), the Netherlands (X units), France (X units), Italy (X units) and Spain (X units) together assumed a combined share of X% of global exports. From 2007 to 2016, Germany (+X% per year), Spain (+X% per year), France (+X%) and the Netherlands (+X%) were the fastest growing suppliers in terms of the major exporters. At the same time, Chinese exports to the global market declined slightly; moreover, exports from Hong Kong fell by over X% over the period under review. Despite being among largest global producers of umbrellas, India (X% of exports in production in 2016) did not export much of their production, meaning that it was consumed domestically.
While the share of Hong Kong dropped significantly (- X percentage points), the share of China and Germany (+X percentage points, each) displayed a positive dynamic. The shares of the other countries remained relatively stable throughout the analyzed period.
The Phillippines Emerged as the Fastest-Growing Importer of Umbrellas
The volume of global imports totaled X units in 2016. The import trend pattern generally mirrored that of exports: these trade flows globally complement each other. In value terms, imports stood at $X in 2016, contracting over the last two years.
In 2016, Japan (X units), the U.S. (X units), Brazil (X units), Germany (X units), Korea (X units), Philippines (X units) and the UK (X units) constituted the leading destinations for umbrella imports, together comprising X% of global imports. Amongst the major importing countries, the Philippines (+X% per year) gained the highest annual rates of growth, while the other importers experienced more modest or even negative paces of growth from 2007 to 2016. While the share of Philippines increased by +X percentage points, the share of the other countries remained relatively stable throughout the analyzed period.
Do you want to know more about the global umbrella market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- umbrella market share
- umbrella prices
- umbrella industry
- umbrella sales
- umbrella import
- umbrella export
- umbrella market forecast
- umbrella price forecast
- umbrella key producers
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global umbrella market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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