Global Alpaca Fiber Market Expected to Make a Strong Comeback After the Pandemic Debacle with a CAGR of 3.5% over the Analysis Timeframe 2022-2031 [290-Pages] | Disclosed by Research Dive
The global alpaca fiber market is expected to witness prominent growth by 2031, due to the rising applications of alpaca fiber in the textile industry. The LAMEA region is expected to hold the largest share of the market
NEW YORK, June 1, 2023 /PRNewswire/ -- Global Alpaca Fiber Market Forecast Analysis:
As per the report published by Research Dive, the global alpaca fiber market is anticipated to generate a revenue of $1,201.5 million and grow at a CAGR of 3.5% over the forecast period from 2022 to 2031.
Segments of the Alpaca Fiber Market
The report has divided the alpaca fiber market into the following segments:
- Type: huacaya fiber and suri fiber
- Huacaya Fiber – Generated the highest market share in 2021
The increasing demand for natural fibers, especially in sustainable fashions and home décor markets is expected to bolster the growth of the market sub-segment over the estimated timeframe. - Application: flooring, textile, industrial felting, and others
- Textile – Held the dominant market share in 2021
The increasing use of alpaca fibers as an ideal material for a wide range of textiles, including clothing, home décor items, and blankets is expected to fortify the growth of the market sub-segment in the coming period. - Grade: ultrafine, superfine, fine, medium, and intermediate
- Superfine – Registered the maximum revenue in 2021
The growing use of superfine-grade alpaca fibers in the production of high-end home textiles, such as blankets and throws is predicted to uplift the growth of the market sub-segment during the analysis period. - Region: North America, Europe, Asia-Pacific, and LAMEA
- LAMEA – Expected to hold the biggest market share by 2031
The increasing interest of consumers in sustainable and eco-friendly materials and the growing incorporation of alpaca fiber by high-end fashion designers into their collections are expected to boost the regional growth of the market over the forecast period.
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Dynamics of the Global Alpaca Fiber Market
The growing use of alpaca fibers in the textile industry to produce high-quality, sustainable, and ethically manufactured products is expected to foster the growth of the alpaca fiber market over the estimated period. Besides, the increasing investment made by investors for research and development, marketing, and other activities of alpaca fibers is expected to augment the growth of the market throughout the analysis timeframe. Moreover, the increasing use of new innovative manufacturing processes such as fleece assessment for recognizing the genetic value of alpaca and improving the efficiency of alpaca fiber production and manufacturing processes is expected to create incredible growth opportunities for the market during the estimated period. However, the limited production and supply of alpaca fiber may hamper the growth of the market over the analysis period.
Covid-19 Impact on the Global Alpaca Fiber Market
The rise of the novel coronavirus has had an adverse impact on the alpaca fiber market, likewise across various other industries. The disruption in the supply chain has created difficulties in outsourcing and transporting alpaca fiber and products. Moreover, the government-imposed lockdowns and travel restrictions made it difficult for farmers and manufacturers to access markets and customers which has further declined the market growth throughout the crisis.
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Key Players of the Global Alpaca Fiber Market
The major players of the market include
- Alpaca Owners Association Inc.
- Altifibers S.A.
- Plymouth Yarn Company Inc.
- Zeilinger Wool Co.
- Mary Maxim Inc.
- The Natural Fibre Company
- Berroco Inc.
- THE ALPACA YARN COMPANY
- Stichting Agriterra
- AHA Bolivia
These players are broadly working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in March 2023, Holding Industriale, a holding company that invests in small and medium-sized companies announced its acquisition of Beste Spa, an Italian smart textile company that specializes in the production of fabrics and garments in the luxury market. With this acquisition, the companies aimed to strengthen their presence in the Italian market to create a vertical, integrated, and sustainable supply chain to serve the best international luxury brands.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Alpaca Fiber Market:
- Why Alpaca Fibers Have Become Luxury Clothing Manufacturers' Most Preferred Choice?
- Global Alpaca Fiber Market to Generate $1,201.5 Million by 2031, Owing to An Increase in Applications of Alpaca Fiber in the Textile Industry
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