Eco Fiber Market Growth & Trends

The global eco fiber market size is expected to reach USD 58.29 billion by 2027, expanding at a CAGR of 4.6% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising concerns regarding the harmful environmental impacts of using synthetic fibers have been contributing to the increased demand for organic eco fiber.

The use of chemicals and polymers in the manufacturing of synthetic fabrics is projected to limit its demand in textiles. Rising awareness regarding sustainable textile production to meet the environmental and social aspects, such as lowering pollution, is projected to fuel the demand for eco fiber across the globe over the forecast period.

The textile industry is the major consumer of eco fibers. Fashion is expected to remain one of the most lucrative application segments. In addition, the emergence of e-commerce portals as shopping portals on account of providing favorable discount packages and free delivery services is expected to increase the consumption of apparel, thereby driving the market.

Increasing environmental concerns, coupled with volatile prices associated with conventional fabrics, have spurred the adoption of eco fibers in the global market. Favorable regulations on manufacturing bio-based products, coupled with stringent environmental sanctions on synthetic polymers, are also expected to have a positive impact on the growth of the market.

Eco Fiber Market Report Highlights

  • The manmade or regenerated product segment led the market and accounted for 57.08% share of the total revenue in 2019. Rapidly growing medical textile industry in India and China is expected to create ample growth opportunities, thereby benefiting the segment growth
  • The textiles/apparel application segment led the market and accounted for a 46.88% share in 2019. Increasing use of luxury and trending fashionable clothes, especially among youth and adult populace, is anticipated to fuel the segment growth
  • Asia Pacific dominated the market in 2019 owing to the growing demand for apparels and sustainable textiles in the economies, including India, China, Indonesia, and South Korea
  • China accounted for the largest revenue share in the Asia Pacific market on account of the initiatives undertaken by the government for the textile industry
  • North America is anticipated to expand at a CAGR of 3.8% from 2020 to 2027 owing to rising demand for eco fibers in the end-use industries. such as textiles, industrial, medical textiles, packaging, and household.