Alpaca Fiber Market Rising Trends, Huge Demand, Business Strategies by 2025
Global Alpaca Fiber Market: Introduction
The frequently changing dynamics of the fashion industry has been impacting a number of product markets. With the increasing demand for natural fiber, the alpaca fiber market has been on a growth curve over the last few years. Since alpaca fiber is eco-friendly and four times warmer than synthetic wool, its demand will continue to rise in the near future, translating into progressive market conditions.
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This research report offers an in-depth analysis of the global alpaca fiber market based on the market’s key trends and prospects. Various segments of this market, based on several parameters, have also been assessed to gain a deep insight into the market dynamics.
Global Alpaca Fiber Market: Competitive Landscape
The degree of competition in the global alpaca fiber market is significantly high. Participants are focusing more on producing better quality alpaca fiber to gain consumers’ loyalty. Nutritional quality of the feed provided to alpacas has taken the center stage, as it is highly significant in order to obtain superior quality alpaca fiber. The leading players in this market, such as Plymouth Yarn, Katia, Malabrigo Yarn, Berroco, Manos Del Uruguay, Alpaca Yarn Co., and Ella Rae, are investing heavily on alpaca feed.
Marca Perú, the leading brand of Peruvian fashion and textiles, is supporting their homegrown designer labels, such as Jorge Luis Salinas, Yirko Sivirich, and Alexander McQueen, via active promotions and international campaigns. The focus of these campaigns is on familiarizing the world with the traditional Peruvian fashion, made with alpaca fiber and Peruvian cotton. The Ministry of Foreign Trade and Tourism (Mincetur), Peru, recently introduced “Alpaca del Perú,” a luxury fashion brand for the sale of high-quality alpaca fiber apparels and accessories in a bid to capitalize on business opportunities arising in the alpaca fiber market.
Global Alpaca Fiber Market: Dynamics
The demand for alpaca fiber is constantly increasing, thanks to the rising awareness among consumers regarding its sustainability and superior quality. A surge in the number of retail stores selling alpaca fiber garments to cater to the soaring demand has been observed in recent times. The increasing preference for natural and sustainable fibers, worldwide, is reflecting positively on the growth of the global alpaca fiber market.
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Thanks to Peru, Latin America to Gain Prominence
North America has been the key contributor to the worldwide alpaca fiber market over the last few years. The presence of a well-established alpaca fiber clothing industry in the U.S. has provided significant growth opportunities to market participants, and, in turn to the global market. The rising numbers of retail outlets selling garments made of alpaca fibers is supporting the North America alpaca fibers market substantially.
However, Latin America is displaying a more promising market, thanks to the high production of alpaca fiber in Peru. With nearly 87% of the world’s population of alpacas consolidated in Peru, the country is the most prominent producer of alpaca fiber across the world, as stated by the Ministry of Agriculture and Irrigation (MINAGRI), Peru. The country is also a prominent exporter of alpaca fiber. In 2017, the alpaca fiber exports of the country crossed US$65 mn mark. Experts believe Peru will continue as the key producer and exporters of alpaca fiber in the coming years, with China and Italy becoming the main importers.
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