Umbrella Market

The global umbrella market is forecasted to see a slight increase in performance over the period from 2022 to 2030, with a projected CAGR of +1.3% in volume and +1.6% in value. In 2022, consumption saw a notable increase of 17%, but overall trend remained relatively flat. China, the US, and Japan were the top consumers in 2022, while China dominated production and export structure. The United States and Germany were major importers. Garden umbrellas saw the highest growth in exports value. Average umbrella import prices have shown mixed trends among major importing countries. Overall, the umbrella market is expected to see gradual growth in consumption, production, imports, and exports in the coming years.

Market Forecast

Driven by rising demand for umbrella worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market value to $7.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Umbrellas

In 2022, consumption of umbrellas increased by 17% to 1.1B units, rising for the second consecutive year after four years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 1.1B units in 2012; afterwards, it flattened through to 2022.

The global umbrella market revenue expanded modestly to $6.5B in 2022, increasing by 4.5% 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). Overall, consumption saw a relatively flat trend pattern. Global consumption peaked at $6.8B in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (277M units), the United States (155M units) and Japan (69M units), together comprising 46% of global consumption. Brazil, Bangladesh, South Korea, Turkey, Germany, Mexico, the Philippines, India, Italy and the Netherlands lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +16.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Bangladesh ($2B) led the market, alone. The second position in the ranking was held by China ($808M). It was followed by the United States.

In Bangladesh, the umbrella market remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+0.6% per year) and the United States (+2.3% per year).

The countries with the highest levels of umbrella per capita consumption in 2022 were the Netherlands (1,181 units per 1000 persons), South Korea (634 units per 1000 persons) and Japan (552 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Umbrellas

In 2022, approx. 1.3B units of umbrellas were produced worldwide; picking up by 21% on the previous year. Over the period under review, production, however, recorded a slight slump. The most prominent rate of growth was recorded in 2020 with an increase of 24%. Over the period under review, global production hit record highs at 1.5B units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, umbrella production contracted to $6.5B in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 5.9% against the previous year. Over the period under review, global production hit record highs at $6.9B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of umbrella production was China (1.1B units), accounting for 85% of total volume. Moreover, umbrella production in China exceeded the figures recorded by the second-largest producer, Bangladesh (36M units), more than tenfold. The third position in this ranking was taken by Turkey (22M units), with a 1.8% share.

In China, umbrella production plunged by an average annual rate of -1.6% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (+4.3% per year) and Turkey (+3.3% per year).

Imports

World Imports of Umbrellas

In 2022, the amount of umbrellas imported worldwide soared to 768M units, picking up by 28% on 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Global imports peaked at 822M units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, umbrella imports skyrocketed to $3.1B in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (144M units), distantly followed by Japan (69M units), Brazil (48M units), Greece (41M units), Germany (38M units) and the Netherlands (35M units) were the major importers of umbrellas, together generating 49% of total imports. South Korea (33M units), the Philippines (23M units), Mexico (23M units), India (23M units), Italy (22M units), Spain (17M units) and France (15M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +5.8% from 2012 to 2022. At the same time, Greece (+33.5%), India (+16.8%), the Netherlands (+11.2%) and Germany (+3.5%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in the world, with a CAGR of +33.5% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Spain (-1.2%), France (-1.3%), Mexico (-2.1%), Japan (-3.5%), Brazil (-4.2%), South Korea (-4.2%) and the Philippines (-4.5%) illustrated a downward trend over the same period. While the share of the United States (+8.8 p.p.), Greece (+5.1 p.p.), the Netherlands (+3 p.p.), India (+2.4 p.p.) and Germany (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of South Korea (-1.9 p.p.), Brazil (-2.7 p.p.) and Japan (-3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($640M) constitutes the largest market for imported umbrellas worldwide, comprising 20% of global imports. The second position in the ranking was taken by Germany ($265M), with an 8.5% share of global imports. It was followed by Japan, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +3.0%. In the other countries, the average annual rates were as follows: Germany (+4.4% per year) and Japan (-3.6% 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) represented roughly 86% of total imports in 2022. It was distantly followed by garden or similar umbrellas (107M units), creating a 14% share of total imports.

From 2012 to 2022, the biggest increases were recorded for garden or similar umbrellas (with a CAGR of +7.2%), while purchases for the other products experienced a decline in the imports figures.

In value terms, garden or similar umbrellas ($1.7B) constitutes the largest type of umbrellas imported worldwide, comprising 53% of global imports. The second position in the ranking was held by umbrellas and sun umbrellas (other than having a telescopic shaft or garden umbrellas) ($826M), with a 26% share of global imports.

For garden or similar umbrellas, imports increased 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 import price stood at $4.1 per unit in 2022, with a decrease of -10.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the peak figure at $4.5 per unit in 2021, and then declined in the following year.

Prices varied noticeably by the product type; 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 umbrellas having a telescopic shaft (excluding garden umbrellas) (+0.6%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2022, the average umbrella import price amounted to $4.1 per unit, declining by -10.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 an increase of 16%. Over the period under review, average import prices attained the maximum at $4.5 per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($12 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 (+9.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Umbrellas

In 2022, overseas shipments of umbrellas increased by 34% to 940M units, rising for the fourth consecutive year after three years of decline. Overall, exports, however, saw a mild descent. The most prominent rate of growth was recorded in 2020 when exports increased by 36% against the previous year. Over the period under review, the global exports attained the peak figure at 1.1B units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, umbrella exports surged to $3.9B in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports By Country

China dominates exports structure, recording 803M units, which was near 85% of total exports in 2022. Greece (36M units), the Netherlands (25M units) and Cambodia (18M units) held a relatively small share of total exports.

Exports from China decreased at an average annual rate of -2.3% from 2012 to 2022. At the same time, Greece (+55.7%), the Netherlands (+14.0%) and Cambodia (+9.6%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing exporter exported in the world, with a CAGR of +55.7% from 2012-2022. From 2012 to 2022, the share of Greece and the Netherlands increased by +3.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.1B) remains the largest umbrella supplier worldwide, comprising 79% of global exports. The second position in the ranking was taken by the Netherlands ($134M), with a 3.5% share of global exports. It was followed by Cambodia, with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+12.6% per year) and Cambodia (+9.7% 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 creating 91% of total exports. It was distantly followed by garden or similar umbrellas (88M units), comprising a 9.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exported products, was attained by garden or similar umbrellas (with a CAGR of +3.9%), while the other products experienced a decline in the exports figures.

In value terms, the largest types of exported umbrellas were 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).

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

Export Prices By Type

The average umbrella export price stood at $4.1 per unit in 2022, reducing by -10.1% against the previous year. In general, the export price, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 141%. As a result, the export price reached the peak level of $7.4 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

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 garden or similar umbrellas (+3.3%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average umbrella export price stood at $4.1 per unit in 2022, shrinking by -10.1% against the previous year. Over the period under review, the export price, however, saw notable growth. The pace of growth was the most pronounced in 2018 an increase of 141%. As a result, the export price reached the peak level of $7.4 per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($5.3 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