In terms of revenue, the Global Eco Fibers Market is expected to reach USD 81.0 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 7.80% from 2022 to 2028.
Rising concerns regarding the harmful impacts of synthetic fibers on the environment are likely to benefit the market's growth over the forecast period. As a result, Eco Fibers are gaining popularity in designer apparel and garments. Over the forecast period, technological developments in the creation of eco-fiber textiles with antimicrobial, hypoallergenic, insulating, UV-resistant, extremely breathable, and absorbent properties are anticipated to increase their significance in the apparel market. Furthermore, as the textile enterprises in the nation concentrate on creating efficient work processes, restructuring their operations, and investing in specialty products and markets, the market in the United States is anticipated to experience significant expansion. This has turned out to be helpful for the industry's development.
Key Highlights from the Report
- Based on Types, the Organic Fibers segment dominates the Eco Fibers market with the maximum market share and will continue its dominance in the forecast period. Due to shifting consumer preferences for environmentally friendly components, this has occurred.
- Among Applications, the Clothing/textiles segment accounted for the highest CAGR in the forecast time. The escalating demand for various sorts of clothes in the designer, casual, and formal wear categories and the expanding worldwide fashion sector is responsible for this modest development.
- The biggest market share in sales is anticipated for the Eco Fibers market in the Asia Pacific. Throughout the entire projected period, this tendency is anticipated to continue. Two of the world's most populated nations, such as China and India, are in the region.
Expanding the textile/apparel, automotive, and medical sectors are driving the fashion industry's rapid growth. The consumption of these Fibers is rising due to the expansion of these industries. The market is driven by emerging economies such as Southeast Asia, South Africa, China, and India. Due to the high levels of disposable money in these developing countries, the demand for clothing and home furnishings is increasing. Additionally, as the population grows, consumer demand for more homes, cars, and clothes increases. As a result, the demand for the product will increase as the fabric is increasingly used for various purposes, including interior design, covering, and furnishing. A further consequence of the epidemic was the usage of Eco Fiber in medical applications in developing nations. The elements promoting market expansion are lowering the risk of infection and upholding personal hygiene to satisfy customer demand during the pandemic.
The enormous amount of fabric waste generated by rising fashion has sped up the development of fiber technologies to make more environmentally friendly fibers. This is anticipated to lessen the environmental impact and open up new market expansion prospects. Most natural fibers are comfortable and can be found for less money, which causes a high demand for the product. In industrialized and developing countries, cotton is a common natural fiber utilized in various end-use industries. Additionally, there is a growing tendency in manufacturers to make efforts to find alternative material sources that could be safer for the environment and more practical for customer use. To have a more sustainable impact on the fashion business, fashion brands are also implementing improvements in the supply chain and choosing eco-friendly fibers. This industry has significant potential thanks to the growing trend of using less synthetic fiber.
Geographically, Asia Pacific market is anticipated to see significant market growth with the highest growth rate in the forecast period. Asia Pacific's emerging economies are now leading the world market for Eco Fibers, and this trend is projected to continue until the end of the projection year. The market here is set to profit significantly from an entirely favorable business environment, cheaper land and labor prices, and the remarkable growth of the textile and garment sectors. Furthermore, since these countries are home to the key manufacturing centers in the area, China, India, and Japan will continue to be the top markets for prospective investors. India, in particular, is the main development driver because it has long been the leading producer and user of Eco Fibers. In addition, durability, adaptability, and affordability, three of Eco Fibers' most desired qualities, are anticipated to increase their potential for use in products like carpet and furniture material, packaging, and geotextile.
The Global Eco Fibers Market is Segmented as follows
- Regenerated Fibers
- Recycle Fibers
- Organic Fibers
- Other Types
- Clothing/ Textile
- Household Furnishing
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Eco Fibers Market is
Lenzing AG (Austria), US Fibers (US), Polyfibre Industries (India), Grasim Industries Ltd (India), Wellman Advanced Materials (US), Shanghai Tenbro Bamboo Textile Co. Ltd. (China), China Bambro Textile (Group) Co. Ltd. (China), Pilipinas Ecofiber Corporation (Philippines), Teijin Limited (Japan), David C (US), Poole Company, Inc (US), Foss Performance Materials (US)
The Global Eco Fibers Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|