Commercial Parasol Market Name Size, Share, Growth, And Industry Analysis By Type (Centre Pole Parasols, Cantilever Parasol and Wall Mounted Parasols) By Sales Channel (Offline Sales and Online Sales), Regional Insights, and Forecast From 2024 To 2032

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Commercial Parasol Market Report Overview

The global commercial parasol market size was USD 0.67 billion in 2023 and is projected to grow from USD 0.71 billion in 2024 to USD 1.05 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. Asia-Pacific holds leading position in commercial parasol market share in 2023.

A patio parasol is a particular style of parasols designed and manufactured for outside recreational usage. These parasols are frequently found in backyards, swimming pools, patios, and outside eating areas at commercial establishments. Aluminum patio parasols have also outperformed earlier wood patio parasols in terms of outdoor durability, due to technological developments. A patio parasol has developed into a crucial piece of outdoor furniture equipment because it offers shade, coolness, and excellent aesthetics for outdoor living spaces. The market for patio parasols and accessories is driven by the spread of urbanization, which is changing how people view the outdoors, and the embrace of western culture in developing nations. In addition, as travel and tourism have become more popular due to monarchy and nobility, so has the need for patio parasols and accessories. Patio parasols and accessories are also offered in a range of styles and pricing points, and they may be customized to match the demands of the customer depending on choice, budget, and taste. The patio parasols and loungers can also be harmonized in terms of colour. The market for patio parasols and accessories is dominated by the residential construction sector.

Increased outdoor activities, changing lifestyles, and expanding urbanization have all contributed to the commercial parasol market's expansion. due to more people buying commercial parasol for personal use and the usage of commercial parasol in hotels and resorts to boost visibility and draw visitors during the past two years, there has been a considerable growth in its installation. the market for commercial parasol is divided into segments based on size, style, base material, sales channel, and application, with the style segment being highly differentiating because to commercial parasol's various requirements. through its web channels of third-party online sellers, parasol is produced, marketed, and delivered by a number of significant companies.

COVID-19 Impact: Lockdowns and stringent regulations slowed market expansion.

The global COVID-19 pandemic has been unprecedented and staggering, with commercial parasol market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Due to the lockdown situation, several industrial facilities had to close, which resulted in a decrease in output. This loss of workers is projected to have an impact on industry profits during prime season. Due to the shutdown situation in the majority of the world, the sales of the distribution channel, such as retail stores and specialized stores, have decreased. Because an parasol may be used to maintain the necessary social distance practices and is expected to be seen as an essential item in Asia and the Asia Pacific, the post-lockdown situation is projected to be advantageous for the parasols industry.

Latest Trends

"Enhanced Characteristics of Conventional Parasols leading to grow market share"

The trend of better design and style in conventional and everyday products has been established by the millennial generation's and generation Z's advancing fashion and style. The automation of parasols has been made possible by advanced technology and creative ideas. The market has seen recent developments in a variety of parasols, including traditional parasols, bubble parasols, wind-resistant parasols, automated parasols, golf parasols, artistic parasols, paper parasols, and child parasols. Due to the fact that parasols are used commercially in addition to for sun and rain protection, the parasols market has a sizable market share. Many top businesses, like Coca-Cola and PepsiCo, utilise beach parasols as a promotional tool, thus the primary players are concentrating on bringing new parasols varieties for both amusement and advertising purposes.

The latest developments in the market for parasols, such as LED parasols with LED lights built into the handle or the entire parasols, prints on the canopy with cutting-edge properties that make them visible while in contact with water and disappear as it dries, customized handles, and eye-catching parasols designs, offer customers appealing features. Leading brand GustBuster has introduced a line of intelligent parasols with wind-release technology, an automated open and close mechanism, and weather resistance to storms. The major players are leaning toward boosting the sustainability of the parasols while also making it lightweight, windproof, waterproof, and leak-proof.

Commercial Parasol Market Segmentation

• By Type Analysis

According to type, the market can be segmented into centre pole parasols, cantilever parasol and wall mounted parasols. The centre pole parasols type will capture the maximum market share through 2028

• By Application Analysis

Based on application, the market can be divided into offline Sales and online Sales. The global commercial parasol market players in cover segment like offline sales will dominate the market share during 2022-2028.

Driving Factors

"Urbanization and lifestyle changes are on the rise, which will accelerate market growth."

Particularly during the pandemic period, the outdoor parasols business has experienced rapid development and expansion in recent times. This growth has occurred for a variety of causes. The two biggest factors are people's changing lifestyles and rising urbanization. This is now the main element fueling commercial parasol market growth. Outdoor activities drastically decreased during the pandemic. People were discouraged from leaving their homes and remained there. When all the restrictions were lifted during the epidemic, however, people began taking more road trips and picnics. The way of life of the populace underwent a significant change as well. The industry's growth has also been facilitated by rising urbanisation. All of these factors have contributed to the growth of the commercial parasol market size.

"Increasing Outdoor Parasol Adoption"" to Drive Market Growth"

Patio umbrellas or outdoor parasols are being used or adopted in more areas nowadays. As a result, there is now more demand for the goods. This demand has grown as a result of changing lifestyles and an increase in outdoor activities. The commercial parasols market share for the product has expanded as a result of the use of these umbrellas in hotels, resorts, and private residences. These days, parasols are also made that are both attractive and affordable. In the years to come, the industry is likely to have tremendous growth potential as a result of all of these reasons.

Restraining Factors

"Competition Among the Major Market Participants to Reduce Market Growth"

The major companies in the sector have recently been in fierce battle with one another. The market expansion may be constrained by the escalating competition. Numerous new businesses are also sprouting up. However, the market share has been taken up by the major companies in the sector. This significantly restricts the industry's growth. Small businesses find it challenging to establish their position in the market because of the existence of large corporations. This can be one of the main problems hindering market expansion.

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Commercial Parasol Market Regional Insights

"The Commercial Parasol Market Is Anticipated to Be Led by North America."

In the United States and Canada, the beach vacation trend is a significant driver of the beach parasols industry, accounting for 25% of the global beach parasols market in 2022. For instance, Solero Parasols, a well-known company in the US, introduced a beach brolly that can be quickly and easily set up and is unaffected by strong winds. As a result, Solero Parasols, a firm renowned for its innovation in the US and 22 other countries, promotes market trends for patio parasols in the area and keeps increasing its global market share. There are many different tourist attractions in the United States. On one side of the nation, tourists can enjoy a sunny beach at the same time as seeing ice-covered landscapes on the other. Such climatic variations entice tourists to enjoy the warm weather on the beach, which boosts the region's commercial parasols market size.

Due to the region's residents' preference for moving to countries with well-known beach destinations like France, Spain, and Greece for their vacations, Europe is predicted to account for 180% of the global market for patio parasols. Additionally, a lot of event management companies arrange themed beach parties like destination weddings and birthday celebrations in the area, which is also thought to satisfy the growing need for these parasols. The event manager enters into agreements for the celebration with the major suppliers of seaside parasols in Europe for the massive amounts of parasols. For instance, putting vibrant parasols decorates Genoa beach in Italy for numerous events. This incites other firms to boost their design spending and expand their market share in Europe.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP COMMERCIAL PARASOL COMPANIES

• Yotrio (U.S)
• MDT (U.S)
• TUUCI (U.S)
• ZHENGTE (China)
• Poggesi (U.S)
• Scolaro (Italy)
• GLATZ AG (Switzerland)
• IASO (Spain)
• Solero Parasols (Netherlands)
• Garden Art (Italy)
• MakMax(Taiyo) (Australia)
• Umbrosa (Belgium)
• Terrassen Van Hoof (Belgium)
• Caravita (Germany)
• Symo Parasols (Belgium)
• Ezpeleta (Spain)
• Crema Outdoor (Italy)
• GAGGIO (Italy)
• Prostor (Belgium)
• Jardinico (Belgium)
• Vlaemynck (France)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.