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Global Artificial Fur Market 2019-2023| 19% CAGR Projection Over the Next Five Years| Technavio

November 11, 2019
Global Artificial Fur Market 2019-2023| 19% CAGR Projection Over the Next Five Years| Technavio
Global Artificial Fur Market 2019-2023| 19% CAGR Projection Over the Next Five Years| Technavio

LONDON--(BUSINESS WIRE)--Nov 11, 2019--

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

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Technavio has announced its latest market research report titled global artificial fur market 2019-2023 (Graphic: Business Wire)

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 .

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendor Analysis

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.

If you are interested in more information, please contact our media team at media@technavio.com.

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20191111005392/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING FASHION OTHER MANUFACTURING TEXTILES RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/11/2019 11:00 AM/DISC: 11/11/2019 11:01 AM

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