The artificial fur market will register a CAGR of over 19% by 2023
Jan 29, 2019, 18:04 ET
NEW YORK, Jan. 29, 2019 /PRNewswire/ -- About this market
Increasing adoption of artificial fur made from natural fibers to drive market growth. The use of artificial fur causes environmental damage. Therefore, many manufacturers are experimenting with natural fibers, such as cotton and hemp, to produce artificial fur. Artificial furs made from natural fibers are warmer than synthetic faux furs and more environment friendly. Technavio' s analysts have predicted that the artificial fur market will register a CAGR of over 19% by 2023.
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Market Overview
Shift to artificial fur from animal fur
Globally, animal fur is extensively used by fashion retailers, fashion designers, and apparel manufacturers for manufacturing coats, jackets, shoes, and other products. Technological advances in fabrications allow luxury brands to create ethical, faux fur alternatives. The increased awareness of cruelty to animals for obtaining fur has led companies to develop alternatives. Some major fashion retailers and apparel stores are taking steps to reduce the use of animal fur and switching to artificial fur.
Issues related to the use of artificial fur
Though artificial fur is extensively used, there are many issues associated with its use. Artificial fur does not provide insulation like real fur and does not allow the skin to breathe. As a result, the body temperature increases which causes sweating. Artificial furs in clothes tend to shed. Wear and tear result in the shedding of synthetic fibers.
For the detailed list of factors that will drive and challenge the growth of the artificial fur market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including DealTask and FIM the competitive environment is quite intense. Factors such as the shift to artificial fur from animal fur and the increasing adoption of artificial fur made from natural fibers, will provide considerable growth opportunities to artificial fur manufactures. DealTask, FIM, PELTEX FIBRES, Sommers Plastic Products, and TEXFACTOR TEXTILES are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p05729132
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