Global Parasol Market by Product Types (Automatic Parasol, Personal Parasol, Artistic Parasol, and Others), Industries (Personal Use and Commercial Use), and Regions (Asia Pacific, Europe, North America, Middle East & Africa, and Latin America) – Glob

The parasol market is anticipated to expand at a considerable CAGR during the forecast period, between 2020 and 2026. The growth of the market is attributed to increasing consciousness regarding the appearance across the globe. Additionally, increase in product innovations is also boosting the growth of the market. However, the economic slowdown worldwide is one of the primary factors hindering the growth of the market. Parasol is a type of umbrella which is light in weight. It is used for the purpose of providing shade from the sun light. Parasols were first introduced and used in southern European countries. It became famous by the mid-18th century in England. Parasols became a necessary fashion accessory for women throughout Europe in 19th century as well. Parasols helped women to maintain pale complexion of skin and prevent their skin from becoming darker in sunlight. It is smaller in size and lighter in weight as compared to regular umbrellas. The material of parasol used is mostly fabric. Additionally, some parasols are water-proof and some are not water-proof.

Market Trends, Drivers, Restraints, and Opportunities:

• Surging demand for parasols is due to consciousness of good looks and appearance among the female consumers to protect their skin from sunrays, maintain healthy and glowing skin, and maintain pale complexion. Thus, it propels the growth of the global parasols market.
• Increasing awareness of the benefits of parasol among the consumers across the globe is boosting the demand for parasols which is driving the growth of the market.
• The low costs of parasols encourage women from most of the income groups to purchase the product. Additionally, durability and increasing life span of parasol is also fueling the growth of the market.
• Ease of availability of parasols across the globe and low maintenance cost are the primary factors boosting the growth of the market.
• Surging innovations of parasols is one of the factors increasing the demand for the product, thus propelling the growth of the market.
• Decreasing economy and slowdown globally is one of the key factors restraining the growth of the market.
• Rising negative mindset of consumers regarding the use of parasols as show-off and negative attitude in the society is also one of primary factors hampering the growth of the global parasols market.

Scope of the Report

The report on the global parasols market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2019Historic Data2015–2018Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, Middle East & Africa, and Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Global Parasols Market Segment Insights:

Based on product types, the global parasols market is segregated into automatic parasol, personal parasol, artistic parasol, and others. Automatic parasol contributes considerable market share for the growth of the market in the segment. Automatic parasol is easy-to-use for consumers. It is a normal parasol with an additional feature of automatic opening and closing of the parasol whenever it is needed for usage to gain protection from sun light. The storage of this type of parasol is also very easy. On the basis of industries, the market is bifurcated into personal use and commercial use. Personal use parasols hold considerable market for the growth of the market in the segment. Personal use parasols are generally purchased and used by individuals for their personal protection from sunrays. Personal use parasols are supported by wooden or metal ribs. The growth of the segment is attributed to increasing awareness of skin benefits of parasol among the female consumers across the globe. Additionally, increasing global warming and heat worldwide is also propelling the growth of the personal use parasols. In terms of regions, the global parasols market is categorized as Asia Pacific, Europe, North America, Middle East & Africa, and Latin America. Asia Pacific accounts for the growth of the market in the segment with considerable market share. The countries in Asia Pacific such as India, Indonesia, Malaysia, China, Japan, South Korea, and other countries suffer high temperature which drives the growth of the market in the region. Additionally, increasing global warming affects the countries in Asia Pacific the most which is boosting the growth of the market.

Competitive Landscape:

Major companies in the global parasols market include GAGGIO srl, Garden Art, GLATZ AG, IASO, JANUS et Cie, MakMax (Taiyo), MANUTTI, and MDT. The key players of the market are adopting different strategies to gain an edge over the other competitors. The companies are using strategic acquisitions such as expansions, product advancements, product launches, product portfolio, collaborations, mergers & acquisitions, and strategic partnerships. GAGGIO srl, one of the largest manufacturers of parasols, manufactures different types of parasols such as pyramid parasol, swing parasol, and others. The company participated in events such as Promohotel, Fiera Promohotel Dal, Host, and many other events in 2019.

The global parasols market has been segmented on the basis of

Product Types

• Automatic Parasol
• Personal Parasol
• Artistic Parasol
• Others

Industries

• Personal Use
• Commercial Use

Regions

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America