Market status and new growth points in the field of lace
Lace is a delicate fabric made of yarn or thread in an open weblike pattern, made by machine or by hand. It has been used for centuries to adorn clothing, bedding, curtains, and other household items. In recent years, lace has become increasingly popular in fashion, with designers incorporating it into their collections in a variety of ways.
The global lace market is estimated to be worth around $3.5 billion in 2020, and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2027. The growth of the market is driven by the increasing demand for fashionable and stylish clothing, as well as the growing popularity of lace as a decorative material. The increasing demand for lace in the apparel industry is also driving the growth of the market.
In terms of product type, the market is segmented into machine-made lace, handmade lace, and others. Machine-made lace is the most widely used type of lace, accounting for the largest share of the market. This is due to its low cost and easy availability. Handmade lace is also gaining popularity, as it is considered to be more luxurious and of higher quality than machine-made lace.
In terms of application, the market is segmented into apparel, home furnishing, and others. Apparel is the largest application segment, accounting for the largest share of the market. This is due to the increasing demand for fashionable and stylish clothing, as well as the growing popularity of lace as a decorative material. Home furnishing is also gaining popularity, as lace is increasingly being used to decorate curtains, bedding, and other household items.
In terms of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest regional market, accounting for the largest share of the market. This is due to the increasing demand for fashionable and stylish clothing, as well as the growing popularity of lace as a decorative material. Europe is also a major market, due to the increasing demand for luxury and designer clothing.
The increasing demand for fashionable and stylish clothing, as well as the growing popularity of lace as a decorative material, are the major drivers of the global lace market. The increasing demand for luxury and designer clothing is also driving the growth of the market. In addition, the increasing popularity of lace in the home furnishing industry
