Fancy Yarn Market Report

Market Insights

The Fancy Yarn Market is estimated to grow from USD 4.5 billion in 2020 to USD 6.3 billion by 2026 at a healthy CAGR of 5.8% during the forecast period.

Figure: Fancy Yarn Market Size, 2020-2026 (USD Million)

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What are Fancy Yarns?

Fancy yarns are primarily used to enhance the aesthetic appearance of fabrics. Most of these yarns are manufactured by professional fancy spinners which is done using specifically designed or modern machines. The materials used for yarn making including silk, nylon, wool, etc.

Key Players

Key players operating in the fancy yarn market are-

• Filpucci Spa (Italy),
• Filati G.B. Srl (Italy),
• Ipeks Tekstil (Turkey),
• Jiangyin Huayi Yarn Co., ltd (China),
• Laxtons Limited (UK),
• Siyaram’s Silk Mills Limited (India),
• Sutlej Textiles and Industries Limited (India),
• Kongkiat Textile Co ltd (Thailand),
• Winning Textile Co Ltd. (Hong Kong), and
• Softech Controls Pvt. Ltd. (India).

Market Dynamics

Changing modern fashion trends is a key factor boosting the demand for clothing, which along with increasing spending power by consumers further augment the market growth in the coming years.

• Growing demand for end-products such as scarves, curtains, party wear, and knitwear in developed and emerging countries further spurs the product demand.
• However, the cost of fancy yarn ad fabric is relatively high and the production speed is relatively slower to produce normal plain commodity yarn, thus hinders the industry growth.

Segment's Analysis

Raw Material Trends

Based on raw materials, the fancy yarn market is classified into natural and synthetic.

• The natural segment held a significant share in 2020 and is projected to grow at the highest CAGR during the assessment period.
• Millennials have a broad mindset for luxury and adventure.
• This is mainly attributed to its rising use in the varied applications of the fashion & apparel industry.
• Moreover, growing environmental concerns along with the consumer shift to use sustainable products further bolster the segment growth.

Regional Trends

By region, the Asia Pacific market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years.

• This is mainly ascribed to the rise in spending power, growing sales volume of clothing & apparel goods.
• Also, the presence of a high number of customers on e-commerce platforms buying clothing and related accessories in the emerging countries further proliferates regional market growth.

COVID-19 Impact on Fancy Yarn Market

The COVID-19 outbreak has moderately affected the fancy yarn industry. Due to stringent lockdown and social distance norms, there is limited movement of people resulting in work from home policies with people stuck at home. Thus, there was relatively less shopping for fancy clothes requiring fancy yarn, thus affected the product demand. In addition, a limited workforce and temporary shutdown further affected its production.

Critical Questions Answered in the Report

• What are the key trends in the fancy yarn market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on the fancy yarn market?
• What are the key strategies adopted by the major vendors to lead in the fancy yarn market?
• What is the market share of the top vendors?

Target Audience

Here is the list of the group of customers that the fancy yarn market hopes to have the greatest opportunity to convert-

• Fancy yarn vendors
• Fancy yarn retailers
• Textile companies
• E-commerce companies

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