Fancy Yarn Market Analysis | 2023-2028

Market Insights

"The fancy yarn market was estimated at USD 5.1 billion in 2023 and is likely to grow at a CAGR of 5.70% during 2023-2028 to reach USD 6.73 billion in 2028".

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Market Dynamics

Introduction

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.

COVID-19 Impact

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.

Market Drivers

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 2022 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 Analysis

"By region, the Asia Pacific market accounted for the largest share in 2022 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.

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Key Players

The following are the key players in the Fancy Yarn Market (arranged alphabetically).

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

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

• For calculating the market size, our analysts follow either a Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• We leverage the multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentations, white papers, and articles to gather the data.
• More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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