Alpaca Fiber Market

Alpaca Fiber Market Outlook (2022-2032)

Alpaca clothes are extremely comfortable, soft, and warm which is the key factor why they are demanded more often. Natural fiber which is having a scratchy texture and fashionable looks is attracting demand from the fashion and textile industries.

The influx in demand for this fiber in the textile and fashion industry can be attributed to the increasing awareness about the high quality and sustainability of such fiber. The fiber market is witnessing high growth mainly due to the upsurge in demand for alpaca fiber fleeces and other types of fashion accessories made with this fiber.

Being a natural fiber, it is anticipated to gain a major share in global fashion and garment stores in the forecast period owing to a surge in eco-friendly clothing. The market is likely to gain growth in upcoming years due to a surge in demand for warm and soft fiber.

The worldwide market of alpaca clothing is estimated at USD 3.4 Billion in 2022. The market is likely to continue growing in the forecast period and is likely to cross a value of USD 4.7 Billion by end of 2032. The industry is projected to develop with a CAGR of 3.2% in the forecast duration. The assessment duration referred to in this research is 2022-2032.

Report Attributes	Details
Market size (2022 A)	USD 3.4 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 4.7 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 3.2%
Key Companies Profiled	ALPACA YARN COMPANY AHA Bolivia New Era Fiber The Natural Fiber Company Coopecan Zeilinger Wool Company Plymouth Yarn Company

What are strategies used by manufacturers?

“Manufacturers Focus on Alpaca Nutrition to Improve the Quality of Fiber”

While the market is expanding at an impressive growth rate, market players are aiming to produce fiber with even better quality to attract more consumers. As high genetic merits can lead to producing large quantities of high-quality fiber, manufacturers in the fiber market are putting efforts into providing nutritious feed to alpacas.

Nutrition makes a significant impact on the health and reproduction capabilities of alpacas and ultimately helps to obtain softer and high-quality fiber. Leading manufacturers and distributors in the fiber market are investing heftily in nutrition in order to be able to offer the finest quality of such fiber and gain a competitive edge in the market. The rising efforts from the government for encouraging the use of natural fibers are intended to increase the ease for manufacturers to operate in the market.

What are the challenges faced by the manufacturers?

With the rise in pollution and climate issues, the markets in Europe and China got shut down due to which there is a rise in basic raw materials. The high cost of raw materials is affecting in terms of supply-demand gaps. The infrastructure bottlenecks are affecting the quality of products being produced.

The rising foreign direct investments in the field of textiles are supported by the governments under automatic routes which are likely to foster growth in markets. post-pandemic of covid-19 recovery is focused on textile manufacturers where companies trying to get back to normal. The novel practices were likely to be in place for managing supply disruptions. The major challenge that companies face in this segment is due to increase costs associated with raw materials and clothing products.

Which region is leading in alpaca fiber production?

“Peru is the leading country in terms of production”

Peru is the largest alpaca fiber producer in the fiber market, with around 3.8 million alpacas in the country – which is 87% of the world’s alpaca population. Peru continues to be the world’s largest producer as well as exporter in the market and the main destinations for Peruvian alpaca fiber exports remain China and Italy.

To capitalize on various business opportunities in the market, the Ministry of Foreign Trade and Tourism (Mincetur) launched the luxury fashion brand "Alpaca del Perú" for the sale of high-quality alpaca fiber garments and accessories.

After Peru, the breeders in Australia are adopting innovative strategies to establish a stronger position in the market. With the increasing alpaca population in Australia, the Australian Alpaca Association president predicts that the number will reach 1 million by the year 2021. Australian alpaca fleeces are witnessing high demand across the fashion industry, especially in China.

The market is witnessing rapid growth as alpaca fiber manufacturers in South Australia target a majority of Chinese clothing manufacturers. Owing to the quality of Australian alpaca fiber and the strict health standards established by the Australian government, demand for Australian alpaca fiber is likely to improve in the upcoming years. By exporting to ever-expanding consumer goods markets like China, the alpaca fiber market in Australia is expected to account for a higher share of the global market in the upcoming years.

Competitive Landscape

The market is becoming highly competitive with more players entering the market. Manufacturers are improving quality and profitability. Companies are investing in research about clothing properties in terms of weather conditions that are likely to bring an edge for these companies in the forecast period. These players are opting for collaborations to increase market presence.

Top-notch companies in markets are focused on increasing expansion to keep the market advantage. Major players in this industry are targeting strategies for enhancing quality to attract more customers. The efforts of scientists to direct genetic tools are anticipated to drive growth in this industry in the forecast period.

Alpaca Fiber Market : Segmentation

• By Wool Type :

  • Huacaya
  • Suri

• By Grade :

  • Ultrafine
  • Superfine
  • Fine
  • Intermediate
  • Medium

• By Region :

  • North America
    • U.S.
    • Canada
  • Latin America
    • Mexico
    • Brazil
  • Western Europe
    • Germany
    • Italy
    • France
    • U.K
    • Spain
  • Eastern Europe
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • ASEAN
    • Australia
    • New Zealand
  • Japan
  • Middle East and Africa
    • GCC
    • S. Africa
    • N. Africa