Research Nester published a report titled “Alpaca Fiber Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global alpaca fiber market in terms of market segmentation by wool type, grade, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global alpaca fiber market is projected to grow at a CAGR of ~4% by attaining a significant revenue during the forecast period, i.e., 2022 – 2031. Factors such as, growing utilization in the automotive industry and the increasing trend of designer woolen clothes among the population are expected to hike the growth of the market during the forecast period. Additionally, the production of wool is also increasing, which is estimated to boost the market growth. Additionally, the growing utilization of alpaca fibers to manufacture automobile application can be major growth driver for the market over the forecast period. For instance, the value of the automotive industry was estimated to be about USD 75 million in 2017.
Additionally, by wool type, the global alpaca fiber market is segmented into Huacaya and Suri. Out of these sub-segments, the Suri segment is estimated to obtain a notable share in the market during the forecast period. The growth of the segment can be accounted to its higher prices in the market. Suri feels soft and delicate against the skin than other types of wool and that is the reason people prefer it over other woolen fibers.
Furthermore, the global alpaca fiber market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a noteworthy pace over the forecast period on the back of higher demand for woolen clothes owing to long-lasting cold days. Data provided by Ag Marketing Resource Center (AGMRC) showed that 17 million pounds of greasy wool were produced in the USA in 2020. Such factors are projected to hike the growth of the market over the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Growing Automotive Industry to Foster the Growth of the Market
Vehicles comprise of significant types of textiles for the seats, interior flooring, and others. Alpaca fibers are soft yet very sturdy and this is the major reason behind their utilization in the automotive industry. Therefore, such factors are anticipated to propel the growth of the market.
However, the availability of alternative wool in the market is expected to operate as a key restraint to the growth of the global alpaca fiber market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global alpaca fiber market which includes company profiling of The Alpaca Yarn Company, Altifibers S.A., The Natural Fibre Company, Zeilinger Wool Co., Stichting Agriterra, Berroco, Inc., Mary Maxim Inc., Alpaca Owners Association, Inc., Plymouth Yarn Company, Inc., and P & J Okell Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global alpaca fiber smarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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