Analysis of Potential Impact of COVID-19 on Alpaca Fiber Market Research

Alpaca Fiber Market: Overview

The exponential growth of the fashion and clothing industry holds promise for the alpaca fiber market to display significant growth rate over the forecast period between 2022 and 2030. The rising consumer demand for natural textiles and natural fashion accessories is having a positive impact on the alpaca fiber market. Featuring eco-friendly properties, along with natural softness, durability, and warmth makes alpaca fiber a choice of sophisticated individuals.

Alpaca fiber is mainly of two types: alpaca Suri and alpaca Huacaya. Key application areas in the alpaca fiber market are clothing, toys, and rugs.

The report on alpaca fiber market provides a brilliant analysis with valuable insights into demand dynamics, growth opportunities, and vendor landscape. The accurate analysis along with qualitative insights will help stakeholders make informed business decisions over the 2022- 2030 forecast period.

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Alpaca Fiber Market: Competitive Landscape

Players operating in the alpaca fiber market are forging partnerships and collaborations to expand their market presence. Strategic alliances such as mergers and acquisitions is also the focus of keen players to expand their presence and consolidate their position in the alpaca fiber market.

The alpaca fiber market is marked with presence of a handful of large players. Some top-notch players operating in the alpaca fiber market are Rowan, Putoco, Cascade Yarns, AndreanSun, Mary Maxim, Louisa Harding, Classic Elite Yarns, Lion Brand Yarn, Plymouth Yarn, Katia, Malabrigo Yarn, Berroco, Manos Del Uruguay, Alpaca Yarn Company, and Ella Rae.

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Alpaca Fiber Market: Key Trends

Bearing recognition as a special natural fiber that is available in 22 shades is the leading factor of growth in alpaca fiber market. Alpaca fiber possesses several characteristics, including several times warmer than sheep wool and lightweight resulting in high thermal capacity.

Due to these attributes, alpaca fiber is suitable to manufacture extremely comfortable winter clothing and accessories. Furthermore, hypoallergenic properties of alpaca fiber accounts for inclination for alpaca fiber winter clothing over its synthetic counterpart.

Rising awareness among consumers about natural source and versatility of the fiber is fuelling demand for alpaca fiber. Increasing spending on naturally sourced fiber with trends of eco-friendly textiles is leading to upsurge in demand for alpaca fiber. Emergence of flagship stores for sales of alpaca fiber products is another plus for the growth of alpaca fiber market. Consumers are increasingly spending large amounts on textiles that are beneficial for the skin because of its source and inherent properties.

Efforts of governments to promote use of natural fiber including alpaca fiber is also serving to boost the alpaca fiber market. According to report of the Ministry of Agriculture and Irrigation, Peru is the leading producer of alpaca fiber accounting for 80% of world’s alpaca fiber cultivation.

According to statistics of the Ministry of Foreign Trade and Tourism, Peru the export of alpaca fiber increased by 110% in 2017 within one year, with an average increase of export price by over 14% average per kilogram.

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Alpaca Fiber Market: Regional Assessment

South America is currently the leading producer of alpaca fiber among other regions in the world. Peru is the leading exporter of alpaca fiber exporting mainly to China and Italy. The Ministry of Foreign Trade and Tourism introduced schemes for the growth of alpaca fiber industry, and also introduced the luxury fashion label ‘Alpaca del Peru’ for exclusive sales of high-quality alpaca fiber clothing and accessories.

North America is emerging as a significant region in the alpaca fiber market. Vast rise in popularity of naturally sourced fabric is a key factor behind the growth of this market. To serve this, government textile departments are taking keen interest to promote the cultivation, manufacture, and marketing of alpaca fiber products. For example, the U.S. Alpaca Fiber Council provides assistance for manufacturing and marketing of these products. The council also provides assistance to manufacturers to improve product quality and increase their profitability.

An assortment of analytics technologies will help in augmenting the commercial productivity. However, until now, the pace of adoption of digital technologies in the overall chemicals industry has been relatively slow. It thus remains to be seen how far the players in the market will be able to unlock long-term productivity benefits of AI-driven management of various business functions, particularly research and development and production.

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