June 18, 2024

Global Biodegradable Fabrics Market Estimated to Witness High Growth Owing to Increasing Demand for Eco-friendly Textiles

Biodegradable fabrics are made from plant and animal-based fibers that can decompose easily into elements found in nature such as carbon, hydrogen, oxygen, and nitrogen. They offer various advantages over conventional petroleum-based fabrics such as being breathable, lightweight, flexible, and durable. The rising awareness about environmental protection has increased the adoption of these eco-friendly textiles in apparel, home décor, healthcare and others. The growing consumer demand for sustainable products is a major factor that is driving the global biodegradable fabrics market.

The Global Biodegradable Fabrics Market is estimated to be valued at US$ 6.76 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the global biodegradable fabrics market are Eaton Corporation PLC, Trilux Lighting Ltd., Zumtobel Group AG, Acuity Brands Lighting Inc., Hubbell Incorporated, Herbert Waldmann GmbH & Co. KG, General Electric Company, Cree Inc., Koninklijke Philips N.V., and KLS Martin Group.

The textile industry is shifting towards biodegradable materials to meet sustainability goals which is opening up significant opportunities for market growth. Various governments are also promoting the use of eco-friendly fabrics through policies and regulations.

The Biodegradable Fabrics Market
is expanding globally due to rising environmental concerns. Stringent regulations regarding textile waste disposal and banning of single-use plastics in many countries are fueling the demand for biodegradable alternatives.

Market drivers
The major driver for the global biodegradable fabrics market is the increasing demand for sustainable products from consumers. People have become more aware about the environmental impact of synthetic fabrics and are willing to pay more for eco-friendly alternatives. Stringent environmental norms restricting the use of petroleum-based plastics and textiles have also boosted the biodegradable fabrics market.

PEST Analysis
Political: The global biodegradable fabrics market is influenced by government policies and regulations pertaining to environment protection. Regulations promoting use of eco-friendly products boost demand for biodegradable fabrics.

Economic: Availability of funds from various government and private organizations for research and development in biodegradable materials propels market growth. Rising disposable incomes increase spending on sustainable clothing and textiles.

Social: Growing environmental consciousness among consumers regarding pollution and plastic waste management leads to higher preference for biodegradable fabrics. Social media trends highlighting benefits of sustainable fabrics favor market expansion.

Technological: Advancements in material science and manufacturing processes enable production of biodegradable fabrics from variety of plant-based raw materials lowering their costs. Development of smart fabrics with functional properties using nanotechnology further drives the market.

Europe accounts for the largest share of the global biodegradable fabrics market in terms of value due to stringent regulations encouraging usage of sustainable materials. Presence of major textile producers in countries like Italy, Germany and UK along with high spending power of consumers has made Europe a dominant market for biodegradable fabrics.

The Asia Pacific region is projected to be the fastest growing market during the forecast period supported by rising living standards, increasing health awareness and expanding textile industry in countries like China, India and Japan. Large population base, rapid urbanization and government initiatives for eco-friendly production are fueling demand for sustainable fabrics in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it