Down and Feather Market Expected to Behold a CAGR of 6.7% through 2016-2024

The global down and feather market is highly fragmented with many small and medium players, especially in China. The top three processors and manufacturers of fine down and feather blends - Allied Feather and Down, KL Down, and Feather Industries - held around 14% of the market in 2015.

Some of the key growth and expansion strategies identified by Transparency Market Research include the development of new products catering to changing consumer lifestyles and investments in technological innovations. In July 2014, Allied Feather and Down introduced a proprietary technology to develop a fluorocarbon-free, water-resistant down. The down was developed implementing an advanced technology called HyperDRY ECO.

The opportunity presented by the global down and feather market stood at US$4.9 bn in 2015 and is projected to be worth US$8.7 bn by 2024. The market is projected to expand at a CAGR of 5.0% in terms of volume and 6.6% in terms of revenue during the forecast period.

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Duck Segment to Register Faster Growth by Volume, Goose Segment by Revenue

By type, duck dominates the global down and feather market. In terms of volume, this is likely to expand at a CAGR of 5% between 2016 and 2024, higher than that presented by the goose segment. However, in terms of revenue, the goose segment is estimated to expand at a higher CAGR of 6.8% during the forecast period.

The comforters segment is projected to be a highly attractive product type of Down and Feather during the forecast period. Pillows and apparel segments are anticipated to exhibit stable demand in mature markets such as Europe and North America; however, there exists growth potential in other regions as well.

Asia Pacific is considered to be the leading market for down and feathers and its global market share by volume was 31.4% in 2015. During the forecast period, the consumption of down and feathers in the region is expected to increase at a CAGR of 6.1%.

TMR Notes Increase in Global Consumption of Duck and Goose Meat

The global consumption of duck and goose meat has increased significantly, particularly in countries such as China, Thailand, Malaysia, and Myanmar. Foie gras – a luxury food product made of the liver of a duck or goose – is a French delicacy that has gained popularity in several parts of the world. “Down and feathers are by-products of the meat industry and therefore, an increase in the consumption of duck and goose meat augments the down and feather market,” the TMR analyst reports.

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A surge in the rate of urbanization across various developing economies of the world and the rise in consumer spending power have also had a significant impact on the demand for down and feather products. “Approximately 50% of the global population resides in urban areas and a growing percentage of rural inhabitants are also expected to move to urban areas in the near future,” the lead analyst states. This shift has given rise to an urban culture that strongly influences consumer behavior and individual lifestyle. This, coupled with an increase in purchasing power is likely to boost the demand for luxury clothing and comforters, thereby driving the market for down and feathers.

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This release was published on openPR.