Artificial Fur Market size is set to grow by USD 184.2 million from 2024-2028, Growing prominence for online shopping to boost the market growth, Technavio

NEW YORK, June 25, 2024 /PRNewswire/ -- The global artificial fur market  size is estimated to grow by USD 184.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 18.92%  during the forecast period.  Growing prominence for online shopping is driving market growth, with a trend towards product developments by market vendors. However, availability of animal fur as artificial fur  poses a challenge. Key market players include Ambassador Textiles Ltd., Aono Pile Co. Ltd., Bartfeld, DealTask Pty Ltd., ECOPEL, EZ Fabric, JiangSu Unitex Co. Ltd., Kolunsag Muflon Sanayi Ltd., Nanjing Eastsun Textiles Co. Ltd., Pahwa Fur Fabrics Pvt. Ltd., Peltex Fibres Sarl, Ramtex Inc., Shannon Fabrics Inc., Sommers Plastic Products Co., Texfactor Textiles, Trims Lannd, USA Knit Products, Wayfair Inc., Youngman Woollen Mills Pvt. Ltd., and Zhejiang Fur Co. Ltd..

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Key Market Trends Fueling Growth

The global shift towards reducing animal fur use in apparel manufacturing is driving market growth for artificial fur. Ecopel's introduction of Flur, a plant-based, biodegradable alternative, showcases this trend. DuPont's Sorona fibers and recycled polyester blend are key components. Nanjing Eastsun Textiles' long pile faux Raccoon fur, made of acrylic and polyester, also contributes to this trend, with applications in puffer collars, scarves, and hats. These developments underscore the commitment of fashion retailers and brands to animal care and sustainability, increasing demand for artificial fur. 

The artificial fur market is experiencing significant growth, driven by increasing demand for animal-friendly alternatives in fashion and home decor. Producers are focusing on improving the quality and appearance of synthetic fur to mimic real fur closely. New technologies like Russsian ukrainge fabrics and geographic advances in marketing are expanding the reach of artificial fur. The use of volumetric textiles and advanced production processes enable the creation of more realistic textures and colors. Additionally, the rise of e-commerce and the convenience it offers has made purchasing artificial fur easier than ever. The future looks bright for this industry, with revenue expected to grow steadily. 

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Market Challenges

• The global artificial fur market is experiencing growth due to the rising preference for cruelty-free alternatives to real fur. However, concerns over mislabeled products containing real animal fur have emerged. In 2017, Sky News exposed the sale of rabbit, raccoon dog, mink, and cat fur as artificial fur on the British high street by retailers such as Boohoo, Missguided, House of Fraser, and Boots. In 2022, Amazon, TK Maxx, and Groupon faced similar accusations. These incidents can damage consumer trust and hinder market expansion.
• The Artificial Fur market faces several challenges in its growth. Consumption patterns and preferences for real fur are decreasing due to ethical concerns and animal welfare issues. This shift in consumer behavior poses a significant challenge for manufacturers and retailers of artificial fur. Additionally, the production process of artificial fur involves the use of volatile chemicals, which can be harmful to the environment and human health. Regulatory compliance and sustainability are key concerns for businesses operating in this sector. Furthermore, the increasing popularity of synthetic alternatives, such as faux leather and other plant-based materials, adds to the competition in the market. Despite these challenges, the demand for affordable and ethical alternatives to real fur continues to drive growth in the artificial fur market.

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Segment Overview 

This artificial fur market report extensively covers market segmentation by

1. Application 
• 1.1 Apparel
• 1.2 Upholstery and home textiles
• 1.3 Other accessories
2. Distribution Channel
• 2.1 Online
• 2.2 Offline
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Apparel-  Artificial fur market experiences consistent growth due to increasing consumer demand for ethical and sustainable alternatives to real fur. Businesses manufacture and sell this synthetic material in various forms, including coats, hats, and rugs. Major players in the industry include companies like China Rasno Group and Shenzhen Orient Fur. These businesses invest in research and development to improve the quality and appearance of artificial fur, making it a viable option for both fashion and home decor.

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Research Analysis

The Artificial Fur Market is witnessing significant product developments, with an increasing focus on sustainability. Recycled plastic is being utilized to create eco-friendly alternatives to real fur. Private label brands are capitalizing on this trend, offering consumers ethical and sustainable options. Bartfeld, ECOPEL, EZ Fabric, Texfactor Textiles, and Trims Land are among the initiatives spearheading this shift. The market scenario is favorable for growth, with governments offering incentives to encourage the use of artificial fur. Handmade and machine-made fur are both popular choices, catering to different consumer preferences. The banning of animal fur farming poses risks for traditional fur industries, making development areas crucial for better decisions at both the national and local levels. Emerging markets are also presenting opportunities for growth strategies in the artificial fur industry.

Market Research Overview

The Artificial Fur Market encompasses the production and distribution of synthetic fibers designed to mimic the appearance and texture of natural fur. These fibers are commonly used in various industries, including fashion, home decor, and automotive, to create products that resemble real fur without the ethical concerns or environmental impact. The production process involves the use of materials such as polyester, acrylic, and nylon, which are extruded into fibers and then processed to create the desired texture and appearance. The market for artificial fur is driven by increasing consumer demand for ethical and sustainable alternatives to real fur, as well as advancements in technology that allow for more realistic and high-quality synthetic fibers. Additionally, the growing trend towards veganism and animal welfare is further fueling the growth of this market. The textile industry is a significant contributor to the global economy, and the artificial fur segment is expected to continue its growth trajectory in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Apparel
• Upholstery And Home Textiles
• Other Accessories
• Distribution Channel
• Online
• Offline
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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