China is the world’s leading producer of de-haired cashmere and cashmere finished products. The raw material resources and processing capacity in China dwarfs that of any other country. As per a research report on the Global Fashion Luxury Cashmere Clothing Consumption Market, China is the world’s largest supplier of raw materials, accounting for about 70 percent of cashmere in the world.
Due to its rapid economic growth, China remains the largest cashmere consumption market, in the world. Many famous brands have set up offices in China including: Loro Piana and Brunello Cucinelli.
Over the next five years, LPI (LP Information) projects cashmere clothing will register a 3.9 per cent growth in terms of revenue, reaching US$ 3,230 million by 2023, from US$ 2,580 million in 2017.