1 Global Cashmere Market Size (Value) and CAGR (2024-2033)
In 2024, the global Cashmere market was valued at USD 1826.27 million, with a CAGR of 5.5% from 2024 to 2033.
Cashmere is a fiber obtained from cashmere goats, pashmina goats, and some other breeds of goat. It is used to make yarn, textiles and clothing.
Figure Global Cashmere Market Size (M USD) and CAGR 2024-2033
2 Cashmere Market Drivers
The primary drivers of the cashmere market’s growth are rooted in both economic and social trends. One of the most significant factors is the increasing demand from emerging markets, particularly in regions such as China, India, and the Middle East. These economies have witnessed rapid development, leading to a substantial rise in disposable incomes. As a result, consumers in these regions are increasingly seeking high-quality, luxurious products, and cashmere, known for its softness, warmth, and durability, fits the bill perfectly. 70% of consumers in emerging luxury markets have increased their spending on luxury goods over the past five years, a trend that is expected to continue, further boosting the cashmere market.
Another key driver is the development and expansion of online sales channels. The rise of e-commerce has revolutionized the retail industry, making it easier for consumers to access and purchase luxury goods from anywhere in the world. This has not only expanded the market reach but also increased sales opportunities for cashmere producers. The convenience and accessibility of online shopping, coupled with advancements in technology such as virtual try-ons and personalized shopping experiences, have significantly enhanced the consumer experience and driven the growth of the cashmere market.
3 Cashmere Market Restraints
Despite the positive growth drivers, the cashmere market faces several restraints that could hinder its expansion. One of the most significant challenges is the ongoing trade friction between major economies, particularly the United States and China. The imposition of tariffs on cashmere products has increased export costs, reduced market access, and negatively impacted the profitability of producers. The uncertainty surrounding global trade policies has further complicated the market dynamics, leading to fluctuations in demand and supply.
Competition from alternative materials also poses a threat to the cashmere market. The rise of synthetic fibers and sustainable alternatives has provided consumers with more affordable and eco-friendly options. These materials often mimic the warmth and softness of cashmere, making them a viable choice for budget-conscious consumers.
4 Global Cashmere Market Size by Type in 2024
White Cashmere is the most common type, known for its high yield, fine texture, and superior quality. It is highly sought after for its ability to be dyed into various colors without losing its natural luster. In 2024, the market value for White Cashmere is forecasted to reach approximately $931.41 million. This type of cashmere is predominantly produced in regions with significant goat farming, such as China and Mongolia, and is widely used in high-end fashion and luxury goods.
Cyan Cashmere, derived from green and brown-red goats, is characterized by its high tensile strength and good luster. It is slightly thicker compared to White Cashmere but still maintains a high quality. The market value for Cyan Cashmere in 2024 is projected to be around $443.76 million. This type is particularly popular in regions where consumers prefer darker and more durable cashmere products. Its production is also influenced by the availability of specific goat breeds and the demand for unique textures.
Purple Cashmere is produced from black goats and is known for its pure purple color, thin and long fibers, and excellent softness. It is considered one of the highest quality cashmere types due to its rarity and superior characteristics. In 2024, the market value for Purple Cashmere is expected to reach $451.11 million. This type of cashmere is often used in luxury products due to its unique color and high-quality fibers. Its production is limited to specific regions, making it a premium choice for discerning consumers.
Table Global Cashmere Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
White Cashmere | 931.41 |
Cyan Cashmere | 443.76 |
Purple Cashmere | 451.11 |
5 Global Cashmere Market Size by Application in 2024
Cashmere clothing is the largest application segment, known for its luxurious feel and high-quality standards. This category includes a wide range of products such as sweaters, coats, and dresses. In 2024, the market value for cashmere clothing is forecasted to reach approximately 1,333.44 million USD. The demand for cashmere clothing is driven by the increasing preference for high-quality, durable, and stylish apparel among consumers. This segment is particularly strong in regions with colder climates, where the warmth and comfort of cashmere are highly valued.
Cashmere accessories, such as scarves, hats, and gloves, are another significant application area. These products are not only functional but also fashionable, making them popular among consumers worldwide. In 2024, the market value for cashmere accessories is projected to be around 304.76 million USD. The growth in this segment is driven by the increasing demand for luxury accessories that complement high-end fashion ensembles. Cashmere accessories are particularly popular in regions with significant fashion industries, such as Europe and North America.
Cashmere home textiles, including bed sheets, duvet covers, and pillowcases, represent a smaller but growing segment. These products are known for their softness and durability, making them highly desirable for consumers seeking luxury home furnishings. In 2024, the market value for cashmere home textiles is expected to reach 188.07 million USD. The demand for cashmere home textiles is driven by the increasing trend towards luxury living and the desire for high-quality, comfortable home products.
Table Global Cashmere Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Cashmere Clothing | 1333.44 |
Cashmere Accessory | 304.76 |
Cashmere Home Textiles | 188.07 |
6 Global Cashmere Market Size by Region in 2024
North America is a significant market for cashmere products, driven by high consumer demand for luxury goods and a strong fashion industry. In 2024, the market value for cashmere in North America is forecasted to reach approximately $452.48 million. The United States, in particular, is a major consumer of cashmere products, with a growing trend towards online sales and e-commerce platforms. The market in North America is characterized by high standards for quality and innovation, with consumers increasingly seeking sustainable and ethically produced products.
Europe is another major market for cashmere, known for its rich textile heritage and high demand for luxury fashion. In 2024, the market value for cashmere in Europe is projected to be around $523.46 million. Countries such as Italy, France, and the United Kingdom are key players in the European cashmere market, with a strong focus on high-quality, designer products. The European market is also influenced by trends in sustainable fashion and ethical production, with consumers increasingly conscious of the environmental and social impact of their purchases.
The Asia-Pacific region is a rapidly growing market for cashmere, driven by increasing disposable incomes and a growing middle class. In 2024, the market value for cashmere in the Asia-Pacific region is expected to reach $735.05 million. China is a major producer and consumer of cashmere products, with significant production capabilities and a growing domestic market. Other countries in the region, such as Japan and South Korea, also contribute to the market demand, particularly in the luxury segment.
Figure Global Cashmere Market Size by Region in 2024
7 Major Players in Global Cashmere Market
7.1 Jiayuan Cashmere
Company Profile:
Jiayuan Cashmere, established in 1995, is a leading cashmere product enterprise based in Ningxia, China. The company integrates various stages of cashmere production, from purchasing and testing to carding, spinning, and garment making. With a strong focus on quality and innovation, Jiayuan Cashmere has built a global reputation for its high-quality cashmere products.
Business Overview:
Jiayuan Cashmere operates a comprehensive production facility in the Cashmere Industrial Park in Lingwu City, Ningxia. The company’s business scope includes the production of cashmere, velvet, cashmere sweaters, scarves, shawls, blankets, and fabrics. Jiayuan Cashmere is known for its commitment to sustainability and ethical sourcing, ensuring that its products meet the highest standards of quality and environmental responsibility.
Product Introduction:
The product portfolio of Jiayuan Cashmere includes a wide range of cashmere products, such as fine cashmere sweaters, luxurious shawls, and high-quality fabrics. These products are designed to cater to the needs of both domestic and international markets, with a strong emphasis on luxury and comfort.
Recent Financial Performance:
In the most recent fiscal year, Jiayuan Cashmere reported a revenue of approximately $109.58 million, with a gross margin of 17.20%.
7.2 Rongchang Cashmere
Company Profile:
Rongchang Cashmere, founded in 1997, is a prominent player in the cashmere industry, known for its extensive range of cashmere products. The company is headquartered in Ningxia, China, and has established a strong presence in both domestic and international markets.
Business Overview:
Rongchang Cashmere specializes in the production of various cashmere products, including yarn, velvet, and apparel. The company’s business strategy focuses on leveraging advanced technology and sustainable practices to deliver high-quality products. Rongchang Cashmere is committed to maintaining a strong supply chain and ensuring the highest standards of quality control.
Product Introduction:
Rongchang Cashmere offers a diverse range of products, including high-quality cashmere sweaters, scarves, and other apparel items. The company’s products are designed to meet the needs of luxury consumers, emphasizing comfort, durability, and style.
Recent Financial Performance:
In the most recent fiscal year, Rongchang Cashmere reported a revenue of approximately $110.67 million, with a gross margin of 17.55%.
7.3 King Deer Cashmere
Company Profile:
King Deer Cashmere, established in 1985, is a leading cashmere manufacturer with a global presence. The company is headquartered in Inner Mongolia, China, and operates production facilities in multiple locations, including Madagascar and Cambodia. King Deer Cashmere is known for its high-quality products and strong commitment to sustainability.
Business Overview:
King Deer Cashmere produces a wide range of cashmere products, including knitting, woven, and apparel items. The company’s business strategy focuses on leveraging advanced technology and sustainable practices to deliver high-quality products. King Deer Cashmere has established a strong supply chain and distribution network, ensuring that its products reach consumers worldwide.
Product Introduction:
King Deer Cashmere offers a diverse range of products, including high-quality cashmere sweaters, scarves, and other apparel items. The company’s products are designed to meet the needs of luxury consumers, emphasizing comfort, durability, and style.
Recent Financial Performance:
In the most recent fiscal year, King Deer Cashmere reported a revenue of approximately $108.05 million, with a gross margin of 17.44%.