Eco Fibers Market Size & Share to Surpass $81.1 Billion by 2028 | Vantage Market Research

WASHINGTON, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Global Eco Fibers Market is valued at USD 50.8 Billion in 2021 and is projected to reach a value of USD 81.1 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 8.1% over the forecast period 2022-2028.

Market Overview

The market for Eco Fibers is predicted to grow significantly in the upcoming years due to the increased demand for technological improvements in the fashion fabric, comfortable daily wear, and government regulations on textile chemicals in developed countries.

We forecast that the clothing/textile category in the Eco Fibers market will account for more than 25% of total sales by 2028 because all age groups have a significant need for formal clothes, casual wear, and fashionable clothing. Increasing consumer demand for several apparel products is anticipated to boost category growth over the forecast period.

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Market Dynamics

Rising Demand from Emerging Economies for the Fiber to Support Market Growth
The textile/apparel, automotive, and medical industries are all expanding faster than the fashion industry. The consumption of these Fibers is rising due to the expansion of these industries. The market is driven by emerging economies in 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, so do consumer demands for more homes, cars, and clothes. 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.

Evolution of the Product Opportunities is Created as a Result of Environmental Sustainability Awareness
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. 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.

Top Players in the Global Eco Fibers Market

  • Lenzing AG (Austria)
  • US Fibers (United States)
  • Polyfibre Industries (India)
  • Grasim Industries Ltd. (India)
  • Wellman Advanced Materials (United States)
  • Shanghai Tenbro Bamboo Textile Co. Ltd. (China)
  • China Bambro Textile (Group) Co. Ltd. (China)
  • Pilipinas Ecofiber Corporation (Philippines)
  • Teijin Limited (Japan)
  • David C. Poole Company Inc. (United States)
  • Foss Performance Materials (United States)

For Additional Information on Eco Fibers Market Players and Detail List, Download a Report PDF Brochure

Top Trends in Global Eco Fibers Market

  • One trend that Vantage Market Research (VMR) expects to see in the Eco Fibers industry is increased environmental concerns. Throughout the forecast period, the market is expected to develop as a result of growing worries about the negative effects that utilizing synthetic fibers has on the environment.
  • Another trend that VMR predicts will continue in the Eco Fibers industry is increased technological advancements. Over the forecast period, technological developments in the creation of eco-fiber textiles with antimicrobial, hypoallergenic, insulating, UV-resistant, highly breathable, and absorbent properties are anticipated to increase their significance in the apparel market.

Top Report Findings

  • Based on Types, most of the Eco Fibers market's revenue is controlled by the Organic Fibers category. Herbicides, chemicals, and pesticides are not used to cultivate organic Eco Fibers in regulated environments. The product's growing conditions are rigorously inspected and audited by certified organizations worldwide.
  • Based on Applications, most of the Eco Fibers market's revenue is controlled by the Clothing/Textile category ascribed to the expanding fashion industry globally. The demand for fabrics is rising due to the popularity of various clothing, including formal attire, casual attire, and designer apparel.

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Recent Developments in the Global Eco Fibers Market

  • March 2021: The Lenzing Group announced that they completed and commissioned an air purification and sulfur recycling plant at their Lenzing site. The company announced that it invested over USD 55 million, wherein the system will reduce more than 15,000 tons of CO2-based emissions.
  • June 2020: Liva, a brand from the Birla Cellulose, a part of Grasim Industries Ltd, announced that they were launching an antimicrobial fiber that will kill viruses and bacteria. This bacterium is expected to keep the fabric fresh and hygienic in the long run.

Organic Fibers Category in Eco Fibers Market to Generate Over 30% Revenue

Vantage Market Research has analyzed the market for Eco Fibers to understand its current state and potential future growth factors. For better understanding, based on the type, the Eco Fibers market is divided into Regenerated Fibers, Recycled Fibers, Organic Fibers, and Other Types.

During the forecast period, the market for Eco Fibers is anticipated to experience the highest CAGR for the Organic Fibers category, ascribed to shifting consumer tastes toward more environmentally friendly items. According to Textile Exchange, the expansion of the organic fiber market would be driven by organic cotton production, which reached 239 KT in 2019.

On the other hand, the Regenerated fibers category is anticipated to grow significantly. The artificial fibers from cellulose and sugar comprise synthetic fibers like rayon and lyocell. Due to the low cost and ease of processing of the fibers, this market segment has dominated. Higher sustainability qualities of regenerated fiber, such as comfort and fiber strength, lead to high demand for the product.

Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on Eco Fibers Market Forecast Report (2022-2028).

Asia Pacific Region in Eco Fibers Market to Generate More 27% Revenue

The Asia Pacific dominates the market for Eco Fibers throughout the projection period. This is a result of China and India having highly developed textile industries. Furthermore, due to the region's high cotton production and affordable labor costs, manufacturers are choosing to establish manufacturing facilities in nations like India, China, and Bangladesh.

Global Eco Fibers Market Segmentation

By Types

  • Regenerated Fibers
  • Recycled Fibers
  • Organic Fibers
  • Other Types

By Applications

  • Clothing/ Textile
  • Household Furnishing
  • Industrial
  • Medical
  • Other Applications

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

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Scope of the Report:

Report AttributesDetails
Market Size in 2021USD 50.8 Billion
Revenue Forecast by 2028USD 81.0 Billion
CAGR8.1% from 2022 to 2028
Base Year2021
Forecast Year2022 to 2028
Key PlayersLenzing AG, US Fibers, Polyfibre Industries, Grasim Industries Ltd, Wellman Advanced Materials, Shanghai Tenbro Bamboo Textile Co. Ltd., China Bambro Textile (Group) Co. Ltd., Pilipinas Ecofiber Corporation, Teijin Limited, David C, Poole Company Inc., Foss Performance Materials
Customization OptionsCustomized purchase options are available to meet any research needs. Explore customized purchase options

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