Doing some tests. Imported the animation in UE4. Took me some time to figure out how to import alembic properly. I think everything almost looking same as the Blender rendered version. If I put some more effort I can create better materials, but for now, this is good enough! 🙂
Hopefully, blender 2.8 and Eevee will save this trouble of importing exporting assets to other programs so this can be done in Blender alone in future!