The new report, “Global Luxury Fibers Market (2024-2030): Revenue, Growth, Trends, Forecast, Value, Industry, Size, Share, Analysis & Companies,” is now available on ResearchAndMarkets.com. This comprehensive analysis forecasts the global luxury fibers market to grow at a CAGR of 13.2% from 2024 to 2030, following a more modest 1.9% CAGR from 2020 to 2023.
The market’s steady expansion is driven by evolving consumer preferences, with a growing demand for high-quality, luxurious textiles. Increasing disposable incomes have also fueled spending on premium goods, including luxury fibers. The rising interest in sustainable and eco-friendly products is expected to further accelerate growth, particularly as Gen Z and Millennials, known for their social media influence and preference for exclusivity, become significant market drivers.
Key factors shaping the market include the increased number of High Net Worth Individuals (HNIs) and affluent consumers, contributing to a rise in luxury spending.
Market Segmentation:
- By Fiber Type: Silk remains the most prominent segment due to its historical prestige and versatility, contrasting with other luxury fibers like cashmere and alpaca.
- By Application: The apparel sector is the major revenue driver, preferred for its visibility and luxurious appeal compared to home textiles and accessories.
- By Region: Europe currently leads in luxury fiber consumption, but the Asia Pacific region is rapidly catching up due to its growing economic potential and rising living standards.
Key Report Highlights:
- 10 years of market data and forecasts from 2020 to 2030
- Analysis of market performance indicators, trends, and future developments
- Detailed segmentation by fiber type, application, and region
- Profiles of leading companies, including Loro Piana S.P.A., Ermenegildo Zegna N.V., and others
For more details, visit ResearchAndMarkets.com.
