LONDON--(BUSINESS WIRE)--The artificial fur market size is expected to post a CAGR of over 19% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Animal fur was used extensively by fashion retailers, designers, and apparel manufacturers to make coats, jackets, shoes, and various other products. However, with increasing awareness of the animal abuse involved in the process of obtaining fur, major fashion retailers and apparel stores are decreasing the its use. Owing to the reluctance for the use of animal fur, several companies are developing ethical alternatives. This will directly lead the growth of the faux fur or artificial fur market.
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As per Technavio, the rise in popularity of fur made from recycled plastic will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Artificial Fur Market: Rise in Popularity of Fur Made from Recycled Plastic
The use of polymeric materials for making artificial fur can lead to environmental issues as polymers are non-biodegradable, and the extensive use of artificial fur can lead to a rise in pollution. Thus, there has been an increase in demand for the use of sustainable materials such as recycled plastic. Many manufacturers of artificial fur are creating fur from recycled plastic. In September 2018, ECOPEL announced its plan to launch faux fur material made from recycled plastic. The company uses plastic collected from the oceans and transforms it into artificial fur. Thus, the widespread use of artificial fur made from recycled plastic is likely to increase the demand for artificial fur.
“Other factors such as the increasing adoption of artificial fur made from natural fibers will have a significant impact on the growth of the artificial fur market value during the forecast period,” says a senior analyst at Technavio.
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Artificial Fur Market: Segmentation Analysis
This market research report segments the artificial fur market by application (apparel and upholstery and home textiles, and other accessories) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region held the largest share of the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the artificial fur market share in APAC can be attributed to the growing popularity of fur clothing and the ban on animal furs in several countries of APAC .
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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