Top Drivers for the Global Portable Fabric Canopies Market| Technavio

Technavio market research analysts forecast the global portable fabric canopies market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180208005617/en/

This market research report segments the global portable fabric canopies market based on product (shade canopy, garden canopy, event tent, and portable garage) and geography (the Americas, APAC, and EMEA).

Inquire about this report: View market snapshot before purchasing

Register for a My Technavio account and get 10% off your first purchase! View all Technavio’s current offers

In this report, Technavio analysts highlight the top market drivers that are contributing to the growth of the global portable fabric canopies market:

• Rise in number of outdoor restaurants and recreational activities
• Growing popularity of portable fabric canopies

Rise in number of outdoor restaurants and recreational activities

Pubs and outdoor restaurants such as QSRs, pubs, hotels, and cafes, which cater to changing consumer preferences and lifestyle choices have experienced a hike over the last few years. Subsequently, the pub culture has undergone a constant evolution, usually because of the increase in the millennial population base who frequent these places. Factors such as rising dual-household income, increasing number of working women, hectic work schedules, increasing urbanization, and improved living standards are responsible for the growing demand for these places. At present, food service vendors are coming up with innovative infrastructure involving different themes, thus fostering the demand for portable fabric canopies.

Due to the increase in fast-paced and hectic lifestyles, consumers are opting for various ways to de-stress. Owing to such needs, the demand for leisure activities and outdoor sports is on the rise. An increase in disposable income that has been observed across the world will also aid in meeting this demand. This is because consumers will be able to afford portable fabric canopies and opt for premium products.

According to a senior analyst at Technavio for outdoor gear, “An increase in recreational expenditures is expected over the next five years. This will enhance the popularity of leisure activities and outdoor activities. This is one of the primary drivers of the market. People's interest in nature-based outdoor adventure travel has increased. Therefore, the rise in adventure activities will fuel the demand for global fabric canopies during the forecast period.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Global portable fabric canopies market segmentation

In 2017, the global portable fabric canopies market was dominated by shade canopies with a share of more than 41%. This was followed by garden canopies, event tent, and portable garage market.

Geographically, the Americas dominated the market, accounting for a market share of close to 41% in 2017. It was followed by EMEA and APAC respectively. The markets in Eastern Europe and Latin America will gain traction after two to three years. The market in APAC is growing, with major growth coming from emerging nations such as China and Japan.

Big savings with Technavio this February!

Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.

OR

Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180208005617/en/