Umbrella and Walking-Stick Market

The umbrella and walking-stick market is expected to see an upward consumption trend over the next eight years, with a forecasted increase in market volume and value. Despite a dip in consumption in 2022, the market is projected to grow steadily. The United States, China, and Japan are among the leading consumers and producers in the market. Imports and exports have also shown significant growth, with notable trends in product types and average prices. Overall, the global umbrella and walking-stick market presents opportunities for growth and investment in the coming years.

Market Forecast

Driven by rising demand for umbrella and walking-stick worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $6.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Umbrellas and Walking-Sticks

In 2022, the amount of umbrellas and walking-sticks consumed worldwide dropped to 1B units, waning by -1.8% compared with 2021 figures. Overall, consumption recorded a pronounced reduction. Global consumption peaked at 1.4B units in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

The global umbrella and walking-stick market value dropped slightly to $5.4B in 2022, declining by -4.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $6.4B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (176M units), China (98M units) and Japan (72M units), with a combined 33% share of global consumption. Pakistan, Brazil, South Korea, Germany, Vietnam, Mexico, the Philippines, Italy, India and Turkey lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +17.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($802M) led the market, alone. The second position in the ranking was held by China ($337M). It was followed by Japan.

In the United States, the umbrella and walking-stick market expanded at an average annual rate of +3.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (-11.2% per year) and Japan (-3.3% per year).

The countries with the highest levels of umbrella and walking-stick per capita consumption in 2022 were Japan (576 units per 1000 persons), the United States (525 units per 1000 persons) and Italy (377 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +16.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Umbrellas and Walking-Sticks

Global umbrella and walking-stick production reached 1.2B units in 2022, with an increase of 2.3% against the previous year's figure. In general, production, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14% against the previous year. Global production peaked at 1.6B units in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, umbrella and walking-stick production reduced to $6B in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 7.9% against the previous year. As a result, production attained the peak level of $6.9B. From 2016 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The country with the largest volume of umbrella and walking-stick production was China (950M units), accounting for 79% of total volume. Moreover, umbrella and walking-stick production in China exceeded the figures recorded by the second-largest producer, Pakistan (52M units), more than tenfold. The third position in this ranking was held by the United States (25M units), with a 2% share.

In China, umbrella and walking-stick production decreased by an average annual rate of -3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+0.5% per year) and the United States (-0.9% per year).

Imports

World Imports of Umbrellas and Walking-Sticks

In 2022, global imports of umbrellas and walking-sticks skyrocketed to 838M units, picking up by 31% on 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, umbrella and walking-stick imports expanded sharply to $3.4B in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (157M units), distantly followed by Japan (72M units), Brazil (49M units), Greece (41M units) and Germany (40M units) were the main importers of umbrellas and walking-sticks, together committing 43% of total imports. The Netherlands (36M units), South Korea (35M units), Mexico (24M units), the Philippines (24M units), India (23M units), Italy (23M units), Spain (18M units) and France (17M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +6.0% from 2012 to 2022. At the same time, Greece (+33.4%), India (+16.8%), the Netherlands (+10.8%), Germany (+2.8%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in the world, with a CAGR of +33.4% from 2012-2022. Italy and Spain experienced a relatively flat trend pattern. By contrast, France (-1.5%), Mexico (-2.0%), Japan (-3.3%), Brazil (-4.2%) and the Philippines (-4.5%) illustrated a downward trend over the same period. The United States (+8.1 p.p.), Greece (+4.7 p.p.), the Netherlands (+2.7 p.p.) and India (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while the Philippines, Brazil and Japan saw its share reduced by -1.7%, -3.3% and -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($701M) constitutes the largest market for imported umbrellas and walking-sticks worldwide, comprising 21% of global imports. The second position in the ranking was taken by Germany ($295M), with an 8.6% share of global imports. It was followed by Japan, with a 7.4% share.

In the United States, umbrella and walking-stick imports expanded at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+4.3% per year) and Japan (-3.3% per year).

Imports By Type

Umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) (357M units) and umbrellas having a telescopic shaft (excluding garden umbrellas) (288M units) were the largest types of umbrellas and walking-sticks in 2022, resulting at approx. 45% and 36% of total imports, respectively. It was distantly followed by garden or similar umbrellas (107M units) and walking-sticks, seat-sticks, whips and riding-crops (43M units), together achieving a 19% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by garden or similar umbrellas (with a CAGR of +7.2%), while imports for the other products experienced mixed trends in the imports figures.

In value terms, garden or similar umbrellas ($1.7B) constitutes the largest type of umbrellas and walking-sticks imported worldwide, comprising 48% of global imports. The second position in the ranking was taken by umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) ($826M), with a 24% share of global imports. It was followed by umbrellas having a telescopic shaft (excluding garden umbrellas), with a 19% share.

For garden or similar umbrellas, imports expanded at an average annual rate of +6.4% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) (-1.4% per year) and umbrellas having a telescopic shaft (excluding garden umbrellas) (-1.0% per year).

Import Prices By Type

The average umbrella and walking-stick import price stood at $4.1 per unit in 2022, with a decrease of -12.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the peak figure at $4.7 per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was garden or similar umbrellas ($15 per unit), while the price for umbrellas having a telescopic shaft (excluding garden umbrellas) ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by walking-sticks and whips (+2.3%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average umbrella and walking-stick import price stood at $4.1 per unit in 2022, which is down by -12.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2020 when the average import price increased by 17%. Over the period under review, average import prices attained the peak figure at $4.7 per unit in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($11 per unit), while the Philippines ($0.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Umbrellas and Walking-Sticks

In 2022, overseas shipments of umbrellas and walking-sticks increased by 32% to 1B units, rising for the fourth year in a row after three years of decline. In general, exports, however, recorded a mild decrease. The global exports peaked at 1.2B units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick exports soared to $4.3B in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 25%. The global exports peaked in 2022 and are likely to continue growth in the near future.

Exports By Country

China prevails in exports structure, recording 853M units, which was approx. 84% of total exports in 2022. Greece (36M units), the Netherlands (28M units) and Cambodia (18M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to umbrella and walking-stick exports from China stood at -2.0%. At the same time, Greece (+55.6%), the Netherlands (+12.6%) and Cambodia (+10.7%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in the world, with a CAGR of +55.6% from 2012-2022. Greece (+3.5 p.p.) and the Netherlands (+2 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -3.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.3B) remains the largest umbrella and walking-stick supplier worldwide, comprising 77% of global exports. The second position in the ranking was taken by the Netherlands ($150M), with a 3.5% share of global exports. It was followed by Cambodia, with a 1.2% share.

In China, umbrella and walking-stick exports expanded at an average annual rate of +2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+12.7% per year) and Cambodia (+10.4% per year).

Exports By Type

Umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) (477M units) and umbrellas having a telescopic shaft (excluding garden umbrellas) (375M units) dominates exports structure, together constituting 84% of total exports. Garden or similar umbrellas (88M units) ranks next in terms of the total exports with an 8.7% share, followed by walking-sticks, seat-sticks, whips and riding-crops (6.9%).

From 2012 to 2022, the biggest increases were recorded for garden or similar umbrellas (with a CAGR of +3.9%), while shipments for the other products experienced mixed trends in the exports figures.

In value terms, garden or similar umbrellas ($1.7B), umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) ($1.2B) and umbrellas having a telescopic shaft (excluding garden umbrellas) ($1B) constituted the products with the highest levels of exports in 2022, together accounting for 91% of global exports.

Garden or similar umbrellas, with a CAGR of +7.3%, recorded the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

The average umbrella and walking-stick export price stood at $4.2 per unit in 2022, dropping by -9.1% against the previous year. In general, the export price, however, saw measured growth. The most prominent rate of growth was recorded in 2018 an increase of 126%. As a result, the export price reached the peak level of $7 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was garden or similar umbrellas ($19 per unit), while the average price for exports of umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) ($2.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by walking-sticks and whips (+4.7%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average umbrella and walking-stick export price amounted to $4.2 per unit, waning by -9.1% against the previous year. Over the period under review, the export price, however, continues to indicate a measured increase. The most prominent rate of growth was recorded in 2018 an increase of 126%. As a result, the export price reached the peak level of $7 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($5.4 per unit), while Greece ($0.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform