Umbrellas market in Greece

Earlier Report Observations

The Greek umbrellas market volume grew from 3 731 thousand units in 2018 to 5 093 thousand units in 2019, supported by increasing consumer demand for UV protection and durable fabrics. New product developments, including wind-resistant designs and a wider variety of colors, further stimulated purchases. However, in 2020, the market contracted to 3 514 thousand units, likely due to the COVID-19 pandemic reducing tourism and outdoor activities.

Market volume rebounded sharply to 5 650 thousand units in 2021, driven by the popularity of foldable and lightweight umbrellas for portability, as well as the growth of the second-hand professional umbrella market offering cost-effective options. The upward trend continued in 2022, reaching 5 922 thousand units, fueled by a focus on durable materials like aluminum and steel, and the availability of interest-free installment plans up to 36 months that facilitated consumer spending.

After the peak, the market volume declined to 4 013 thousand units in 2023 and further to 3 435 thousand units in 2024. Despite the drop in unit terms, the market value increased to 16 216 thousand US dollars in 2024, suggesting a shift toward higher-value products.

Production umbrellas in Greece

In value, 2017-2020, K $ US

Umbrella production in Greece declined for the third consecutive year. In 2020, output was valued at 1 792 K $ US, reflecting a steep decline of 27.7% from the previous year. Between 2017 and 2020, production decreased by 35.4%, equating to an annualized rate of 13.5%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, unit

Greece's umbrella production declined for the third consecutive year. In 2020, 21 473 units were produced, showing a solid contraction of 21.5% year-over-year. Over the period from 2017 to 2020, production decreased by 30.2%, with a compound annual growth rate of -11.3%.

Annual dynamics of production in Greece in kind, 2017-2020, unit

Exports umbrellas from Greece

Exports in kind, K unit

The market exhibited an unstable trend throughout the timeframe. Exports reached their lowest point in 2017 and peaked in 2019, with a 9.7-fold difference between these years. In 2020, umbrella deliveries from Greece stood at 2 668 K units, showing a decline of 35.9% from the previous year. The maximum value was recorded in 2019 at 4 164 K units, with the largest increase of 307.6% also occurring that year.

Annual dynamics of product's exports from Greece in kind, 2017-2020, K unit

Throughout 2017 to 2020, Italy, Bulgaria, and Spain formed the core group of markets for exports in kind, accounting for 34.7%, 17.3%, and 14.0% of exports, respectively. Together, they represented 66.0% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

The market exhibited an unstable trend throughout the timeframe. Exports reached their lowest point in 2017 and peaked in 2019, with a 2.5-fold difference between these years. In 2020, Greece exported 2 991 K $ US of umbrellas, down by 26.9% compared to 2019. The maximum value was recorded in 2019 at 4 091 K $ US, with the largest increase of 104.5% also occurring that year.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

During 2017 to 2020, exports in value terms of umbrellas from Greece were spread relatively evenly. Italy accounted for 19.0% of exports, the Netherlands for 11.6%, and Bulgaria for 11.3%. Together, these three countries represented 41.8% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports umbrellas to Greece

Imports in kind, K unit

Volatility characterized the market behavior during these years. Imports reached their lowest point in 2017 and peaked in 2019, with a 2.9-fold difference between these years. In 2020, Greece imported 6 161 K units of umbrellas, reflecting an intense fall of 33.2% compared to the previous year. The maximum value was recorded in 2019 at 9 229 K units, with the largest increase of 95.3% also occurring that year.

Annual dynamics of product's imports to Greece in kind, 2017-2020, K unit

Over 2017 to 2020, China was by far the main destination for imports in kind of umbrellas to Greece, accounting for 95.5% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

After a two-year gain, imported umbrella volumes in Greece declined. In 2020, imports amounted to 11 796 K $ US, which is 17.0% lower year-over-year. Over the period from 2017 to 2020, imports increased by 8.5%, with a compound annual growth rate of 2.8%. The maximum value was recorded in 2019 at 14 204 K $ US, with the largest increase of 23.3% also occurring that year.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

In 2017 to 2020, China remained the key direction for umbrella imports to Greece, accounting for 75.8% of total imports in value terms, while other destinations were much less significant.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020