Synthetic Fur Market Forecast 2023-2031 – Market Size, Drivers, Trends, And Competitors

Posted on 2024-03-29 by Transparency Market Research in Advertising // 0 Comments

Wilmington, United States, 2024-Mar-01 — /EPR Network/ — In the wake of growing environmental consciousness and ethical concerns, the synthetic fur market has emerged as a promising alternative to traditional fur. Characterized by its cruelty-free nature and sustainable production processes, synthetic fur is swiftly gaining traction across various industries, including fashion, home décor, and toys. With projections pointing towards a robust growth trajectory, the global synthetic fur market is poised to witness significant expansion by 2031.

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Key Players and Market Developments

PELTEX FIBRES SARL, Sommers Plastic Products, TEXFACTOR TEXTILES, Tissavel, DealTask, ECOPEL, EZ Fabric Inc, ICE FABRICS., Kolunsag Muflon Sanayi Limited Sirketi, HOUSE OF FLUFF, and Ambassador Textiles Ltd. are the prominent synthetic fur manufacturers.

Market Overview:

According to recent research, the synthetic fur market, valued at US$ 319.8 Mn in 2022, is estimated to grow at a Compound Annual Growth Rate (CAGR) of 8.8% from 2022 to 2031, reaching a staggering US$ 681.3 Mn by the end of 2031. This growth is primarily fueled by an increasing consumer preference for cruelty-free products and a surge in demand across various end-use industries, such as fashion apparel, home décor, and toys.

Driving Forces:

The rise in consumer inclination towards animal cruelty-free products has emerged as a significant driving force behind the growth of the synthetic fur market. This shift in consumer behavior, coupled with the efforts of key players to introduce innovative products made from natural ingredients and recycled materials, has further propelled market expansion. Additionally, collaborations among industry players to enhance product portfolios and expand global reach are contributing to market growth.

Key Market Attributes:

Synthetic fur, also known as faux fur or artificial fur, offers numerous advantages over genuine fur. Not only is it cruelty-free, but it is also more cost-effective and durable. Unlike real fur, synthetic fur retains its shape and color over time, making it a preferred choice for consumers seeking longevity and sustainability in their purchases. Moreover, the fashion industry’s increasing adoption of synthetic fur has played a pivotal role in driving market demand, with renowned fashion houses championing its use over traditional fur.

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Regional Dynamics:

North America holds a significant share of the global synthetic fur market, driven by consumer preferences for eco-friendly and cruelty-free products. Similarly, the Asia Pacific region is witnessing a surge in demand, fueled by advancements in fiber quality and the proliferation of synthetic fur applications across various sectors.

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