Key segments of the global umbrella market

According to a research conducted by Netscribes, the global umbrella market is expected to reach USD 7,122.91 Mn and expand at a compound annual growth rate (CAGR) of 1.72% by 2023. Exposure to heavy sunlight for a long period of time can take a toll on one’s skin and result in pigmentation, dark spots and tanning. Therefore, people prefer to carry umbrellas with them when they are outdoors.

The global umbrella market is classified into four segments - product, gender, distribution channel and region. Based on product, the market is divided into two fold, three fold, walking stick umbrella, and garden umbrella, among others. Three fold umbrellas are dominating the market due to the ease of use and portability. However, in North America, garden umbrellas are the most popular variant, and its use is extended to commercial spaces as well. Based on gender, the market is segmented into men and women. The global umbrella market gets its maximum revenue from women umbrellas. 

They hold 51% of the global market share. Based on distribution channels, the market is segmented into offline and online channels, where the offline distribution channel held 91.5% of the market share in North America. 

Geographically, Mainland China held a global market share of 87.7% in 2017. While China is the largest exporter of umbrellas, North America and Europe are the largest importers of umbrellas.