Over the past few years, the global down and feather market has exhibited remarkable growth and is expected to follow an exponential growth track in the forthcoming years. The demand for down and feather products is high particularly in developing countries owing to the rapid urbanization and rising consumer spending power. Growing demand for luxury and comfort products and changing lifestyles are working in favor of the growth of the market.
According to a report by Transparency Market Research (TMR), in 2015, the opportunity in the global down and feather market was pegged at US$ 4.9 bn and is poised to rise to US$ 8.7 bn by the end of 2024, progressing at a 6.7% CAGR between 2016 and 2024.
Natural Insulating Ability of Down to Spur Growth of Segment
The global market can be broadly classified into down and feather. The down segment represents the lion’s share in the market. The growth of the segment is propelled by the easy availability of raw materials and its natural insulating ability. The demand for down products is higher in Europe and North America owing to their property to withstand adverse climatic conditions. They are primarily used in pillows, comforters and apparels, and beddings.
On the basis of origin, the global down and feather market is segmented into goose and duck. Duck is estimated to be a faster-growing segment in terms of volume, progressing at a 5% CAGR during the forecast period. However, in terms of revenue, goose will rise at a CAGR of 6.8% during the same period, higher than that exhibited by the duck segment.
Increasing Consumer Purchasing Power to Trigger Demand for Down and Feather Products in Asia Pacific
Asia Pacific was the dominant regional market in 2015, accounting for more than 30% of the overall market volume. The rapid urbanization is augmenting the growth of the region. The rising purchasing power of consumers, especially in emerging countries is resulting in the greater demand for comforters and luxury clothing, which in turn is driving the growth of the region. Asia Pacific is trailed by North America and Europe. The burgeoning demand for comforters and beddings and the increasing household income is escalating the growth of the market in Europe and North America. The U.S. led the down and feathers production in 2015, closely followed by China.
Browse the full Global Down and Feather Market report http://www.mrrse.com/down-feather-market
Leading Players Focus on Development of New Products to Strengthen Market Position
Feather Industries, Allied Feather and Down, and KL Down have been the top three manufacturers in the global down and feather market in 2015, with a cumulative share of 14% of its value. The leading players are increasingly focusing towards the development of new and innovative products that are in line with the changing lifestyles of consumers in order to consolidate their presence in this highly fragmented arena. They are allocating sizeable funds to technological innovations in order to stay ahead of their peers. Other prominent players in the market are Down Inc., Down Decor, Heinrich Hassling GmbH & Co., United Feather & Down Inc., Peter Kohl, OBB Oberbadische Bettfedernfabrik GmbH, Karl Sluka, Rhode, and Treude & Metz GmbH & Co. KG.