Transparency Market Research has published a new research report titled “Down and Feather Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” to their report store.
Albany, NY -- (SBWIRE) -- 10/05/2016 -- The global down and feather market is highly attractive and has been gaining significant momentum over the recent past. The increasing demand for down and feather products all over the world, especially from emerging economies, is expected to drive the market. A rise in consumer purchasing power, a growing urban population, changing consumer attitudes toward luxury and comfort, and altering lifestyle habits are some of the parameters likely to influence the demand for down and feathers from the apparel and home furnishing industry. Premium and luxury home furnishing products are increasingly popular in the Middle East and Africa, North America, and Europe as they are used mainly in five-star and seven-star hotels.
The global down and feather market was valued at US$4.9 bn in 2015 and is projected to reach US$8.7 bn by 2024, expanding at a CAGR of 6.7% therein.
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Increasing Demand for Premium and Luxury Products Spurs Growth
By type, the market is broadly bifurcated into down and feather. The down segment dominates the market due to its easy availability and natural insulating ability. It is primarily employed in comforters and apparels, pillows, and beddings and the segment presents attractive investment options for vendors. Down products are largely used in North America and Europe to withstand the extreme weather conditions in these regions. This trend is expected to continue during the forecast period.
The down and feathers market has been segmented on the basis of origin into duck and goose. In terms of volume, duck is anticipated to be a rapidly growing origin segment during the forecast period, expanding at a CAGR of 5% during the forecast period. Goose down and feather is mostly used in premium quality beddings and the demand for the same is comparatively higher in Europe and North America.
In terms of product, the market has been divided into pillows, comforters, bedding, and apparel. The comforters segment accounted for more than 30% of the global demand in 2015.
Rise in Urbanization Behind Growing Demand for Down and Feather Products in APAC
Asia Pacific leads the global down and feathers market, closely followed by North America and Europe. The U.S. was the leading producer of down and feathers in 2015, followed by China. This can be attributed to the rising consumption of down products in these countries, driven by the increasing spending power of the population.
In terms of volume, Asia Pacific was the dominant region in the down and feathers market, accounting for a share of more than 30% in 2015. The rise in urbanization and the increase in consumer spending power are projected to drive the down and feathers market in Asia Pacific during the forecast period. The rise in purchasing power of the people, particularly in developing economies, has resulted in the greater demand for luxury clothing and comforters, which has benefited the down and feathers market.
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North America accounts for a prominent share in the down and feathers market and the trend is expected to continue due to immense growth in the comforter and bedding segment. Europe is also expected to be a promising market for down and feather products during the forecast period due to the increase in household income. The down and feathers markets in the Middle East and Africa as well as Latin America are likely to witness significant growth during the forecast period.
Key players in the down and feather market include Allied Feather & Down, Feather Industries, Down Decor, Down Inc., United Feather & Down, Inc., Heinrich Hassling GmbH & Co., OBB Oberbadische Bettfedernfabrik GmbH, Peter Kohl, Rhode, Karl Sluka, and Treude & Metz GmbH & Co. KG.
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