Faux Fur Clothing Market – Global Industry Analysis and Forecast (2023-2029)

Faux Fur Clothing Market size was valued at US$ 400.72 Mn. in 2022, and the total revenue is expected to grow by 16.41% from 2022 to 2029, reaching nearly US$ 1160.83 Mn.
Market Overview:
Faux fur clothing or artificial fur clothing is created by using fabric materials that are similar in looks to animal fur. It is similarly soft and warm in comparison to its counterpart. Hence, the product is cheaper, thereby attracting huge demand for the product. The product is sold in various designs and colors to attract the attention of buyers. In addition, the clothing is also showcased in several fashion events for promotions. Several manufacturers are developing the product with attractive designs and water-repellent properties to increase product sales.

Faux fur jackets are becoming increasingly popular, symbolizing the current state of the fashion industry. The cloth is both inexpensive and warm, which is increasing demand for it.To know about the Research Methodology:-Request Free Sample Report
Faux Fur Clothing Market Dynamics:
The growth of the market is attributed to various factors, such as the demand for luxury clothing, the growing awareness about faux fur clothing, and the disposable income of consumers.

1. An increase in awareness among the people regarding the cruelty against animals has led to the adoption of artificially produced fur products.
2. Governments of several countries have banned hunting and the use of animal fur as per the guidelines published by governments regarding animal rights. As per the information provided by The Environment, Food, and Rural Affairs Committee of Government UK's "Fur Trade in the UK" report in 2018, the European Union has imposed a complete ban on the import and export activities of dog and cat fur in accordance with the Commission Regulation 1523/2207.
3. Faux Fur clothing is an effective alternative to animal fur and is available at a lower cost, thereby driving the market growth.
4. Growth in disposable income, population, and high consumer spending on fashion are some of the key factors driving the market growth.
5. Fashion companies have introduced the use of recycled waste in the manufacturing of artificial fur, which has averted consumers' attention, resulting in a strong demand for artificial fur in the market.
6. The manufacturing process of faux fur is heavily automated, which has resulted in massive labour cost savings; as a result, many business enterprises are planning to introduce the line of faux fur in their portfolio.
7. Local market players have disrupted the market by using low-quality materials that are not environmentally friendly, resulting in the market's slow growth.
8. Technological advances in the Faux Fur fabric department is expected to create lucrative opportunities in the faux fur market.

Faux Fur Clothing Market Restraints:

1. Faux fur does not provide the same level of insulation as animal fur. Furthermore, artificial fur containing synthetic fibres sheds over time, which can stifle market growth. As a result, the market is growing slowly.
2. Further, the non-biodegradable nature of faux fur clothing is expected to raise problems against the disposal of clothing made with the material, thereby hampering the market growth.
Faux Fur Clothing Market Segment Analysis:
By product type, the market is segregated into vests, jacket, shawls, capelet, scarf, gloves, and others.The Vests & Jackets segment is expected to hold dominate position in the market during the forecasted period. The growth in the market is attributed to the trend of clothing that is worn in typically colder climates, where coat can also in snowfalls for protection from cold. Further these clothes are also used as fashion wear, which will further lead to increasing demand.As per the end-users, market is segmented into men and women.The women segment is projected to hold a major share during the forecasted period. The growth in the market is attributed to the factors like the buying trends among the female customers, as they are more conscious about their appearance and fur clothing provides a more elegant and along with the comfort of these clothing. In terms of faux fur clothing, thesegment is most interested in garments that have a luxurious and high-end appearance. Moreover, more variety is available in market for women as compared to women as the demand is more in their segment. On the other hand, men faux fur clothing consists of individuals who are typically interested in fashion but not as much as women. In terms of faux fur clothing, men end user segment is most interested in garments that have a practical and functional appearance.

Based on the application, the market is fragmented into apparels, upholstery & home textile industry. High Consumer spending in the fashion industry has been steadily increasing. Furthermore, social media awareness of artificial fur has increased market sales of faux fur apparel. Upholstery and home textile industries are expected to grow steadily in the future because of the rising spending on home aesthetics.
Faux Fur Clothing Market Regional Insights:
Regionally the Faux Fur Clothing Market is segmented into North America, Europe, South America, Asia Pacific, Middle East & Africa.

Asia Pacific region is projected to dominate the market share during the forecast year because of the harsh environmental conditions during winter. The adoption of the coat is increasing because of the its low cost and similar warmth offered by the animal fur. An increase in popularity of fur clothing and the ban on animal furs in several APAC countries have contributed to the growth of the fur market share.

The report's goal is to provide industry stakeholders with a comprehensive analysis of the market. The report analyses complicated data in simple language and presents the past and current state of the industry, as well as forecasted market size and trends. The report examines all aspects of the industry, including a detailed examination of key players such as market leaders, followers, and new entrants.

The report includes a PORTER and PESTEL analysis, as well as the potential impact of market microeconomic factors. External and internal factors that are expected to have a positive or negative impact on the business have been examined, providing a clear future view of the industry.

The report also aids in understanding the market dynamics, structure, and size projections by analysing market segments. The report is an investor's guide due to its clear representation of competitive analysis of key players in the market by product, price, financial position, product portfolio, growth strategies, and regional presence.
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Faux Fur Clothing Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 400.72 Mn.


Forecast Period 2023 to 2029 CAGR:
16.41%
Market Size in 2029:
US $ 1160.83 Mn.


 Segments Covered:
by Product Type
Vests
Jacket
Shawls
Capelet
Scarf
Gloves
Others


by Application
Apparels
Upholstery
Home Textile Industry


by End-User
Men
Women



Faux Fur Clothing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Faux Fur Clothing Market Key Players
1. Kering (France)
2. Prada (Italy)
3. Chanel (UK)
4. Armani (Italy)
5. Dolce Gabbana (Italy)
6. Hobbs (UK)
7. Shrimps (UK)
8. House of Fluff (USA)
9. H&M Group (Sweden)
10.Noisy May (Denmark)
11.Penfield (UK)
12.AONO PILE CO.,LTD (Japan)
13.Bartfeld (UK)
14.EZ Fabric (USA)
15.Kolunsag Muflon Sanayi Limited (Turkey)

Frequently Asked Questions:

1. What is the forecast period considered for the Faux Fur Clothing market report?
Ans. The forecast period for the Faux Fur Clothing market is 2023-2029.

2. Which key factors are hindering the growth of the Faux Fur Clothing market?
Ans. Faux fur does not provide the same level of insulation as animal fur. Furthermore, artificial fur containing synthetic fibres sheds over time, which can stifle market growth. As a result, the market is growing slowly.

3. What is the compound annual growth rate (CAGR) of the Faux Fur Clothing market for the forecast period?
Ans. The Faux Fur clothing market is estimated to grow at an impressive CAGR of 16.41% during the forecasted period.

4. What are the key factors driving the growth of the Faux Fur Clothing market?
Ans. The growth of Faux Fur Clothing market is attributed to various factors, such as the increasing demand for luxury clothing, the growing awareness about faux fur clothing, and the rising disposable income of consumers.