Pune, May 04, 2022 (GLOBE NEWSWIRE) -- Rainwear is a waterproof garment that prevents the body and clothes dry in the rain. Rain jackets and raincoats are examples of rainwear products. The ability of a raincoat to keep you dry is determined by its material and design. Rainwear products have low prices, making them more affordable to consumers and increasing demand for this market. The market for rainwear is estimated to rise significantly in the coming years due to an increase in demand as well as population. Moreover, as climatic conditions change, the demand for raincoats is expected to grow. Furthermore, an increase in outdoor recreation enthusiasts, the development of more effective rainwear, and an increase in working-class populations are among the factors that will help the market expand.
COVID-19 Impact Analysis
The program COVID-19 has had a negative impact on the distribution and sales of products across a variety of industries. In order to stop the spread of the virus, many countries have been quarantined, and borders have been sealed. As a result of new travel and gathering restrictions imposed by several governments, many brands and retailers cancel their orders from supplier factories. As a result, many rainwear factories have stopped production and either firing or placed their employees on leave. The impact of COVID-19 on logistics has disrupted raw material supply. The COVID-19 weather modification project has disrupted the supply of rainwear raw materials. As a result, production capacity has decreased, resulting in a product shortage. In Pakistan, for example, members of the Edhi Foundation are distributing raincoats and rubber boots in order to provide emergency medical services due to a lack of PPE. While fighting the coronavirus, doctors in India wore raincoats to protect themselves.
The global rainwear market is expected to reach USD 1915.7 million by 2030, growing at a CAGR of 6.7% between 2022 and 2030.
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Key players
Stutterheim, Columbia Sportswear Company, Ducktail, under armou, Helly Hansen, Rains, Burberry, Timberland, Prada, Arc'tery, Mackintosh, Fjallraven, Carhartt, The North Face, Patagonia, Black Diamond Equipment, and Fox Umbrellas Ltd.Market Drivers.
Market Dynamics
In recent years, the global Rainwear Market has grown at a moderate rate. Customers have found the Rainwear Market to be attractive due to the availability of a diverse range of products and product designs. Rising participation in recreational activities, new advances in rainwear design, and a wider range of rainwear options create an opportunistic market for global Rainwear Market players.
Drivers
· Increased participation in recreation activities
Sports and recreation programs can create a sense of community that benefits individual participants. Recreational activities have numerous advantages, such as improving health and well-being, empowering individuals, and creating inclusive communities. Recreation, leisure, and sports activities frequently involve large crowds. Rising demand for lightweight, long-lasting rainwear in sports is expected to boost the market growth. Recreational activities such as camping, biking, and mountaineering are frequently carried out in areas where unpredictable climate change or heavy rainfall creates difficult conditions. As a result of the growing popularity of extreme outdoor activities, the Rainwear Market has expanded.
Restraint
· Growing environmental awareness
Companies are steadily introducing environment friendly rainwear innovations to help reduce their carbon footprint. The reemergence of recycled polyester is a growing trend in the Rainwear Market. To reduce the environmental impact, manufacturers are using recycled polyester. PFCs are persistent organic pollutants that can contaminate the environment for long periods. Rainwear manufacturers are working hard to reduce raw material waste and re-use resources to create new rainwear products. Companies are developing recycled rainwear that is waterproof in order to appeal to environmentally conscious consumers who want to be able to go outdoors during rainy weather without worrying about getting wet.
Vendor Assessment
Vendor assessment includes a deep analysis of how vendors are addressing the demand in the Rainwear Market. The MDC Competetive Scape model was used to assess qualitative and quantitative insights in this assessment. MDC's Competitive Scape is a structured method for identifying key players and outlining their strengths, relevant characteristics, and outreach strategy. MDC's Competitive Scape allows organizations to analyze the environmental factors that influence their business, set goals, and identify new marketing strategies. MDC Research analysts conduct a thorough investigation of vendors' solutions, services, programs, marketing, organization size, geographic focus, type of organization and strategies.
Technology Assessment
Technology dramatically impacts business productivity, growth and efficiency. Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for businesses. Technology assessment helps organizations to understand their current situation with respect to technology and offer a roadmap where they might want to go and scale their business. A well-defined process to assess and select technology solutions can help organizations reduce risk, achieve objectives, identify the problem, and solve it in the right way. Technology assessment can help businesses identify which technologies to invest in, meet industry standards, compete against competitors.
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Business Ecosystem Analysis
Advancements in technology and digitalization have changed the way companies do business; the concept of a business ecosystem helps businesses understand how to thrive in this changing environment. Business ecosystems provide organizations with opportunities to integrate technology in their daily business operations and improve research and business competency. The business ecosystem includes a network of interlinked companies that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships amongst suppliers, distributors, and end-users in delivering a product or service.
Regions and Countries Covered
North America (US, Canada), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific), and Rest of the World (RoW)
Report Coverage
Rainwear Market Dynamics, Covid-19 Impact on the Rainwear Market, Vendor Profiles, Vendor Assessment, Strategies, Technology Assessment, Product Mapping, Industry Outlook, Economic Analysis, Segmental Analysis, Rainwear Market Sizing, Analysis Tables
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Vendor Profiles Covered
All Major Tier-1, Tier-2, and Tier-3 companies are covered in this Rainwear Market report (25 Vendor Profiles)
Key Questions Answered in This Report:
- What is the potential of the Rainwear Market?
- What is the impact of COVID-19 on the global Rainwear Market?
- What are the top strategies that companies adopting in Rainwear Market?
- What are the challenges faced by SME’s and prominent vendors in Rainwear Market?
- Which region has the highest investments in Rainwear Market?
- What are the latest research and activities in Rainwear Market?
- Who are the prominent players in Rainwear Market?
- What is the potential of the Rainwear Market?
Additional vendor’s profiles can be added based on client business requirements
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