09 January 2020
Visiongain’s new report Alpaca Fiber Market Report 2020-2030: Forecasts by Type (Alpaca Suri, Alpaca Huacaya), Application (Toys, Rugs, Clothes, Others), and by region and analysis of leading companies operating in this industry.
The global alpaca fiber market is anticipated to grow at a lucrative CAGR of ~5% during the forecast period from 2020 to 2030.
The global alpaca fiber market is experiencing tremendous growth owing to the growing demand for several types of fashion accessories made up of alpaca fiber. Alpaca is warm, soft & very comfortable clothing. In the textile industry, Alpaca fiber is witnessing lucrative demand for wool as a natural fiber that provides more warmth and is less scratchy as compared to other materials. With the upsurge of providing highly sustainable & environmentally friendly clothing & accessories, the alpaca fiber market is witnessing rapid growth, especially for hot and soft alpaca fiber.
While the demand for alpaca fiber is expanding at an incredible rate of growth, market players plan to manufacture even better-quality alpaca fiber to attract more customers. The global alpaca companies are focusing on providing nutritious feed to alpacas as high genetic merits lead to the development of superior quality of alpaca fiber. Nutrition has a substantial impact on alpaca's reproductive ability & wellbeing and thus helps to obtain superior quality alpaca fiber. Considering the impact of nutrition on the quality of alpaca, major alpaca fiber manufacturers are investing heavily in alpaca nutrition to provide the finest alpaca fiber quality & gain a competitive edge on the alpaca fiber market.
Over the forecast period, it is anticipated that there will be an increase in consumer awareness of the product benefits. Also, the growing number of alpaca fiber fashion stores across the globe are anticipated to make accessibility of these products easier, thus contributing to the growth of the alpaca fiber market. However, the high cost associated with alpaca fiber clothing is anticipated to restrain market growth in the developing economies.
The degree of competition is significantly high in the global market for alpaca fiber. Participants focus more on producing alpaca fiber of better quality to gain the loyalty of consumers. Major companies like Katia, Plymouth Yarn, Berroco, Malabrigo Yarn, Alpaca Yarn Co., among others are investing heavily in alpaca feed as the quality of feed is very important for obtaining alpaca fiber of superior quality.
Due to the growing popularity of these products among customers, North America is projected to account for a significant market share of alpaca fiber. Also, increasing production of alpaca fiber clothing in the U.S. coupled with the growing number of retail outlets in the country for this clothing is expected to drive growth in the industry over the projected period. As a result of increasing consumer penetration in the region, Australia is likely to be a key potential market for the brand to replace traditional winter clothing.
Approximately 12,000 tons of meat and 5,000 tons of fiber are processed annually worldwide. Activity is concentrated in the Altiplano–southern Peru, Bolivia and Chile's high-altitude areas. Peru has combined an estimated 2,5 million alpacas, Bolivia 500,000 and 50,000 heads of Chile and Argentina (Foster 2014). In the United States, Australia, Canada, New Zealand, France, Italy, Spain, the United Kingdom and South Africa, there are also large populations of alpacas.
Some of the key alpaca fiber market players include Alpaca Yarn Company, AndeanSun, Berroco, Classic Elite Yarns, Ella Rae, Katia, Cascade Yarns, Lion Brand Yarn, Louisa Harding, Malabrigo Yarn, Manos Del Uruguay, Mary Maxim, Plymouth Yarn, Putuco, Rowan among other prominent players.
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