by The Global Biodegradable Fabrics Market is estimated to be valued at US$ 5.86 Bn in 2023 and is expected to exhibit a CAGR of 12.6% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Biodegradable fabrics are produced from plant-based fibers including cotton, bamboo, hemp as well as synthetic polymers manufactured to completely decompose without toxic residues. These fabrics eliminate microplastics and find widespread applications in clothing, home furnishings, geotextiles and medical textiles due to their eco-friendly properties. Rising consumer demand for sustainable textiles along with strict legislation regarding plastic waste is driving large scale adoption of biodegradable alternatives across various end-use sectors.
Market Dynamics:
Increased sustainability initiatives undertaken by textile manufacturers to reduce environmental footprint is a major driver for the global biodegradable fabrics market. Governments across regions have implemented regulations prohibiting use of conventional plastics and promoting plant-based fibers through incentives. For instance, the European Union introduced legislation banning single-use plastics by 2021. This has spurred R&D towards large scale commercialization of biodegradable materials. Furthermore, rapid expansion of textile production facilities especially in Asia Pacific allows economies of scale and lower costs, fueling fabrics demand. The COVID-19 pandemic has accelerated e-commerce and home décor trends, augmenting supplies of bamboo, organic cotton and hemp bedding and upholstery products.
Segment Analysis
The global biodegradable fabrics market is dominated by the clothing segment which accounts for over 30% share of the total market. This is mainly because clothing produced from biodegradable fabrics have become increasingly popular among environmentally conscious consumers. Additionally, availability of new fabrics which are both sustainable and provide good aesthetics and functionalities have further boosted adoption of biodegradable fabrics in the clothing segment.
PEST Analysis
Political: Governments across major countries are promoting use of sustainable and eco-friendly products through policy changes and incentives. This is benefiting growth of biodegradable fabrics market.
Economic: Rising disposable incomes and growing focus on environmental protection are encouraging consumers to spend more on sustainable fabrics despite higher costs compared to regular fabrics.
Social: Increasing awareness about ill-effects of plastics on environment is driving preferrence for biodegrdable alternatives in textiles and fabrics sector. Additionally, social media campaigns are also highlighting benefits of using natural and eco-friendly materials.
Technological: Fabric producers are intensifying R&D efforts to develop new biodegradable materials with improved functionalities such as moisture wicking, wrinkle resistance,etc. This is helping boost adoption.
Key Takeaways
The global Global Biodegradable Fabrics Market Demand is expected to witness high growth, exhibiting CAGR of 12.6% over the forecast period, due to increasing consumer preference for sustainable materials driven by environmental concerns. Regionally, North America accounts for largest share currently due to stringent regulations and presence of major end-use industries. However, Asia Pacific region is expected to witness fastest growth due to rising exports from countries like India and China catering to global demand for biodegradable fabrics.
Key players operating in the biodegradable fabrics market are Ecologic Fiber, Enka Textile, Hemp Inc, David C. Poole, Eco Textile, Propex, Greenfibres, EnviroTextiles, Vestagen Protective Technologies, W.L. Gore & Associates, Taiwan Singtex Industrial Company, Tengri, Bcomp, Flexform Technologies, Aquafi, Eucarpe, Toad&Co, Amadou Naturals, Back Beat Co., SynZenta. The players are actively investing in R&D to develop advanced fabric technologies and expanding production capacities to cater to the rising global demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
