The Quality Development Of China's Umbrella Industry Is An Inevitable Trend
China has a long history of umbrella manufacturing and use. Since the 1980s, China's umbrella industry has rapidly risen due to its abundant and cheap labor resources and has become the world's largest umbrella producer. At this stage, China's umbrella industry system is complete, with companies covering everything from spare parts to processing and assembly, and the industry is huge. With the improvement of national consumption power and the improvement of consumption concepts, the Chinese market's demand for high-quality and personalized umbrellas continues to grow, and the umbrella market continues to expand.
After continuous development, there are a large number of umbrella manufacturers in China, and the market is becoming increasingly saturated. Umbrellas are consumer-resistant products, and the frequency of repeated purchases by consumers is low. From 2014 to 2019, the average annual compound growth rate of China's umbrella industry output was -2.1%, and the average annual compound growth rate of sales volume was -5.0%, both showing a downward trend. In 2014-2017, the average annual compound growth rate of the Chinese umbrella market was -3.2%. However, with the upgrading of consumption, the Chinese market's demand for high-quality umbrellas increased. With the decline in production and sales, the Chinese umbrella market showed an increase in 2018 , The growth rate is 7.0%. In 2019, the size of China's umbrella market was 7.32 billion yuan, a year-on-year increase of 1.8%.
According to the Umbrella Industry Research Center's "In-depth Market Research and Investment Strategy Recommendation Report for the Umbrella Industry for 2020-2024", China's umbrella industry clusters have been formed, and manufacturing companies are mainly concentrated in the eastern coastal areas. Zhejiang and Fujian are my country's largest umbrella manufacturers. In provinces, production capacity accounts for more than 90% of the total production capacity in the country, and the industry is highly concentrated.
The umbrella industry in China is huge and there are many companies. However, due to the low barriers to entry in the industry, the number of companies with high national reputation is small, most companies have low brand awareness, do not have independent innovation capabilities, serious imitation and plagiarism, and product quality is uneven, mainly concentrated at the low end Market competition has led to increasingly fierce competition in the low-end umbrella market in China, while the lack of competitiveness in the high-end umbrella market gives foreign brands more room for development and the overall profitability of the industry is weak.
With the upgrading of consumption concepts, the national demand for commodities has shifted to the direction of quality. In order to comply with the development trend, some companies in the Chinese umbrella industry continue to innovate in design, consciously cultivate their own brands, and gradually enter the high-end market. , Some achievements have been made at this stage. However, the umbrella industry still has more plagiarism, which has an impact on the long-term healthy development of the industry. In the future, the development of China's umbrella industry still needs constant regulation.
Umbrella industry analysts said that China is a big producer of umbrellas, but not a strong producer of umbrellas. Most domestic companies produce products in low-end areas, and there are fewer companies with high-end market competitiveness. Under the trend of consumption upgrading, the development of quality, branding, and individualization of the Chinese umbrella industry has become inevitable. The future development prospects of companies with strong innovation consciousness and excellent product quality are still good, and the future development of companies with imitations and poor product quality Space will shrink.