Eco Fibers Market Forecasts to 2028 – Global Analysis By Product (Organic, Manmade/Regenerated, Recycled and Natural), Type (Regenerated fibers, Recycle fibers, Organic fibers and Other Types), Application and By Geography

Eco Fibers Market Forecasts to 2028 – Global Analysis By Product (Organic, Manmade/Regenerated, Recycled and Natural), Type (Regenerated fibers, Recycle fibers, Organic fibers and Other Types), Application and By Geography

According to Stratistics MRC, the Global Eco Fibers Market is accounted for $43.07 billion in 2022 and is expected to reach $74.65 billion by 2028 growing at a CAGR of 9.6% during the forecast period. Eco Fibers are type of fibers that do not require the use of pesticides and chemicals for growth. These fibers are resistant to mold, mildew, and disease-free. The product majorly includes linen, ramie, bamboo, and hemp, which make organic and eco-friendly fiber for textile and apparel applications. Advanced technologies have led to the development of products that have microbe resistance, UV resistance, and breathable properties.

According to the National Bureau of Statistics, Cotton production in India is projected to reach 7.2 million tonnes (~43 million bales of 170 kg each) by 2030, driven by increasing consumer demand. The yield per hectare rose 5.3 percent to 1,992.2 kg.

Market Dynamics

Driver

Rise in Population

The rise in population increases consumer requirements for more residential structures, automobiles, and clothing. Hence, the growing use of fabric for various applications, such as furnishing, covering, and interior design, will surge product demand. Furthermore, the pandemic forced the developing economies to use eco-fiber in medical applications. To meet consumer demand during the pandemic, decreasing the chances of infection and maintaining personal hygiene are the factors supporting market growth.

Restraint

The availability of less expensive replacements

The availability of low-cost substitutes such as polyester, nylon and cotton produced by proven and low-cost techniques makes the end product affordable for the majority of the end user and the local population. These fibers have similar properties to Eco Fibers, and they are way cheaper than Eco Fibers. These synthetic fibers are mass-produced mostly using oil by products. Synthetic fibers can withstand higher stress, possess higher strength, are light-weight, and have more shine and durability compared to Eco Fibers.

Opportunity

Rising adoption of Eco Fibers in several applications due to environmental concern

Eco-fibers have gained acceptance in a variety of industries, including garments and textiles. These fibers, however, are not commonly used. The excessive amount of fabric waste produced by rising fashion has accelerated the development of fiber technologies to produce more ecologically friendly fibers, particularly in the apparel industry. However, in order to have a more sustainable impact on the fashion industry, fashion companies such as H&M are employing eco-friendly textiles and modifying the supply chain. Because of the growing popularity of utilizing less synthetic fiber, this sector has great growth potential.

Threat

High Prices of Eco Fiber

The high prices of eco fibers can indeed pose a challenge or threat to the eco fibers market. While eco fibers are often considered more sustainable and environmentally friendly compared to conventional fibers, their production and processing methods can be more resource-intensive and costly. Price sensitivity is a significant factor in purchasing decisions, and if eco fibers are priced significantly higher than conventional fibers, it may limit their adoption, especially among price-conscious consumers. This could hinder the market growth potential of eco fibers.

Covid-19 Impact

The COVID-19 pandemic has had both positive and negative impacts on the eco fibers market. While the pandemic has posed challenges for the global textile and apparel industry as a whole, it has also created opportunities and increased awareness about sustainability. The pandemic has disrupted global supply chains, including those in the textile and apparel industry. Governments worldwide are placing greater emphasis on sustainability and environmental initiatives as part of their post-pandemic recovery plans. They are implementing policies, regulations, and incentives to encourage sustainable practices in various industries, including textiles and apparel. These measures can promote the adoption of eco fibers and drive market growth.

The Industrial segment is expected to be the largest during the forecast period

The industrial segment is expected to be the largest during the forecast period. Eco fiber finds application in numerous industrial and construction applications owing to its superior characteristics and sustainability. The product is used in the construction of house structures, dams, and tunnels. Nonwoven glass, polyester fabrics, and acrylic fibers are some of the key raw materials used in industrial applications. Furthermore, the core infrastructure-supporting industries, including steel, cement, electricity, natural gas, crude oil, and refinery products, are anticipated to grow at a substantial rate in the forecast period in emerging economies such as India and China, which could be a major contributor to this segment's revenue growth.

The Organic eco fibers segment is expected to have the highest CAGR during the forecast period

The organic eco fibers segment is expected to have the highest CAGR during the forecast period. Organic eco fibers are grown in controlled settings without using herbicides, chemicals or pesticides. The growing conditions for organic eco fibers are extensively monitored and audited by certified agencies across the world. Organic cotton is the most commonly used eco fiber across various end-use industries owing to its superior characteristics. Rising concerns regarding the harmful environmental effects of using synthetic fibers have boosted the demand for organic eco fiber in the past few years.

Region with largest share

Over the forecast period, Asia Pacific accounted for the largest revenue share in the global market. Asia-Pacific is a major producer and consumer of eco fibers. Several factors contribute to the growing demand for eco fibers in the region. Increasing consumer awareness and demand for sustainable and ethically produced textiles and apparel are major drivers. Additionally, government regulations and initiatives promoting sustainable practices in the textile industry further stimulate the adoption of eco fibers. India is the fastest-growing market in Asia Pacific owing to the growing population, per capita consumption of apparel, and increasing foreign investments. These are some of the major socio-economic factors that are likely to support market growth in the country and help the market for Eco Fibers develop in terms of revenue.

Region with highest CAGR

During the forecast period, North America is anticipated to grow strongly. The market is characterized by high growth in demand for eco fibers in end-user industries such as textiles, industrial textiles, medical textiles, packaging, and household. In addition, the presence of an aging population and initiatives to develop superior sports apparel are expected to aid the growth of the regional market over the forecast period. Furthermore, factors such as growing sustainable practices owing to increasing awareness regarding environmental protection are driving eco fiber growth across the region. Relaxed regulations for migration have led to the immigration of a multi-ethnic population, which is projected to drive the demand for fashion and apparel over the forecast period.

Key players in the market

Some of the key players in Eco Fibers market include Aditya Birla Management Corporation Pvt. Ltd, AGL Polyfil Private Limited, Bambro Textile (Group) Co., Ltd., Barnet Intelligent Materials, BLS Ecotech, Composition Materials CO., INC., David C. Poole Company, Inc, Foss Performance Materials, Ganesha Ecosphere LTD., Grasim Industries Ltd., Jb Ecotex Limited, Komal Fibres, Lenzing AG, Pilipinas Ecofiber Corp., Polyfibre Industries, Proma Industries LTD., SATERI, Shanghai Tenbro Bamboo Textile Co. Ltd, Shyam Fibers Private Limited, Tangshan Sanyou Group, Teijin Limited, UNIFI, INC., Universal Fibers Inc., Vishal Poly Fibers PVT. LTD., Wellman Advanced Materials and Xingda Chemical Fibre Co. Ltd.

Key Developments

In December 2022, The Lenzing Group and Renewcell, the Swedish textile-to-textile recycling pioneer, signed a multi-year supply agreement to accelerate the transition of the textile industry from a linear to a circular business model

In May 2022, a Belgium-based company i.e., UTEXBEL collaborated with Lenzing AG for producing uniforms for security personnel of the Belgian Federal Public Service for Justice (FPS Justice)

In April 2022, The Teijin LTD.has created an excellent-performing eco-friendly staple polyester nanofiber to reinforce rubber used in products like vehicle tyres, hoses, and belts

In March 2022, an agreement was signed between Grasim Industries Limited Swedish textile-to-textile recycling innovator (Renewcell) for providing high-quality LIVA REVIVA fibers

Products Covered
• Organic
• Manmade/Regenerated
• Recycled
• Natural

Types Covered
• Regenerated Fibers
• Recycle Fibers
• Organic Fibers
• Other Types

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

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements