The patio umbrella market is projected to grow to USD 965.1 million by 2033, rising from USD 538.8 million in 2023, with an anticipated CAGR of 5.8% during the forecast period.
Which Factors Are Driving the Global Market?
- Outdoor Living Trends: The rising popularity of patio umbrellas is increasing outdoor living trends. Consumers consider investing in these umbrellas comfortable and aesthetic to provide protection and shade in outdoor activities.
- Rising Disposable Income: The increasing economies and disposable incomes increase the demand for patio umbrellas. The growing spending power, enhanced lifestyle, and outdoor living further advance the global market.
- Urbanization: The growing urbanization, such as living in small outdoor areas, patios, and limited green area spaces, increasing the adoption of patio umbrellas. These umbrellas are widely used to enjoy rainfall and weather.
- Changing Weather Patterns: The changing weather is influencing consumers to increase the adoption of patio umbrellas. These umbrellas protect from UV rays, sunlight, and rain shower and provide safety.
- Growing Hospitality: The growing businesses, hotels, hospitals, and restaurants are increasing the adoption of patio umbrellas. They are investing in outdoor seating and amenities to attract consumers fueling the market revenue.
- Product Innovation: Manufacturers are innovating improved and advanced patio umbrellas with better designs per consumers’ preferences. They innovated these umbrellas by adding wind resistance and tilting mechanisms to drive market growth.
- Sustainability Choice: Consumers prefer patio umbrellas to increase environmental consciousness and promote sustainability. The key companies are recycling patio umbrellas and re-designing them with recycled material to reduce wastage.
Key Takeaways are
- The patio umbrella market is estimated to secure a valuation of US$ 965.1 million with a CAGR of 5.8% during the forecast period.
- The United States is dominating the global market by securing a maximum share by 2033.
- Based on the distribution channel, the direct share is estimated to lead the global market during the forecast period.
Competition Landscape
The global market is defined by a multitude of local businesses offering a diverse array of products. Market participants utilize various strategies to enhance their presence and increase their share in the global market.
Recent developments:
- By depending on eCommerce websites throughout the pandemic, Tommy Bahama saw a rise in sales. The company intends to increase its investments and the scope of its digital business knowledge to increase its consumer reach.
- Producing umbrellas with rechargeable and customizable LED lighting choices was first done by Frankford Umbrellas.
- The business used a bright silver anodized coating and marine-grade cloth, which allowed the umbrellas to withstand abrasive coastal settings.
Key players
- Tommy Bahama
- beach bob
- AMMSUN Industrial Group Limited
- The Umbrella Connection
- East Coast Umbrella Inc.
- Implus Footcare LLC
- Beach Brella.
- ShelterLogic Corp.
- Sinobest Umbrella Co. Ltd.
- Shinetech Frankford Umbrellas.
- Cape Cod Beach Chair Company Inc.
- Impact Canopies USA
- Sunday Supply Co.
- of the umbrella Huifeng Umbrella Co. Ltd.
- Others
Get Connected with Our Expert Analyst on Email: sales@futuremarketinsights.com
Patio Umbrella Market by Category
By Product Type:
- Centre Pole
- Offset Pole
- Table
- Tilting
By Size:
- 5 Feet to 7 Feet
- 5 Feet to 10 Feet
- More than 10.5 Feet
By Canopy Material:
- Polyester
- Canvas
- Others
By Base Type:
- Wood
- Metal
- Plastic
- Other
By End Use:
- Commercial
- Personal
By Distribution Channel:
- Direct Sales
- Hypermarkets/ Supermarkets
- Specialty Stores
- Online Retailing
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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