Eco Fibers Market

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Eco Fibers are long, thin threads or a strand of flexible threads. These materials are utilized within the textile industry as they have naturally and ecologically friendly properties. Eco Fibers are used extensively within chemical agents, including scouring agents, wetting agents, soaping, and dyeing agents. The primary driver for the Eco Fibers market is increasing concerns regarding the harmful effects of synthetic fibers on the environment and the rising popularity of Eco Fibers in designer apparel and garments. Technological advancements in developing eco-fiber textiles such as antimicrobial, hypoallergenic, insulating, UV resistant, highly breathable, and absorbent will add to the market growth.

Factors such as effective work processes, restructured businesses, and investing in niche products are expected to increase the footprint of the global Eco Fibers market during the forecast period. Additionally, a booming apparel market, a growing online fashion market, rising disposable income, and developing high-quality, innovative fibers will fuel sustainable growth. An ongoing trend of shifting preference towards bio-based alternatives, including organic cotton, hemp, and other sources of Eco Fibers, will record a surge in sales. Including natural, regenerated, and recycled fibers will also prompt a widened market growth.

Eco Fibers are produced and grown in an eco-friendly manner. This method uses crops without chemical pesticides, insecticides, and fertilizers. Furthermore, they are spun into fiber or yarn with effective use of energy and minimal harm to the environment. For instance, regenerated fibers are produced using cellulose, mostly extracted from wood pulp. An increase in demand for eco-friendly fibers from various end users, including textile/clothing, household furnishing, and industrial, is expected to prompt a sustainable Eco Fibers market during the forecast period.

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Developed economies, including China, India, South Africa, and Southeast Asia, are witnessing a surge in sales of environmentally friendly components. Sectors such as textile/apparel, automotive, and medical industries are expected to propel market growth. Rising disposable income among the working population leads to increased apparel sales within these developed nations. Highly populated countries, such as China and India, require an added demand for residential structures, automobiles, and clothing. However, higher prices of Eco Fibers are expected to hamper the growth of the global Eco Fibers market during the forecast period.

Top Market Trends

1. Increasing Demand for Fiber from Emerging Economies: The fashion industry is expanding due to the advent of fast fashion. Increasing utilization of Eco Fibers in the automotive and medical sectors from emerging economies is expected to prompt an expanded Eco Fibers market growth during the forecast period.

2. Growing Textile Sector: The pricing for synthetic and conventional fabrics often fluctuates, which can cause the pricing of end products to be altered. Additionally, an expanding textile industry will contribute to the global market during the forecast period.

3. Environmental Nature of Eco Fibers to Propel Demand: Eco Fibers are made environmentally friendly, which has increased its utilization within textile fabrics. Eco Fibers are made from hemp, flax, organic cotton, and bamboo. Increasing consumer inclination towards environmentally friendly products will widen the market footprint.

4. Rising Demand for Everyday Wear Apparel: The working population on a global scale is increasing. Consumers are looking for comfortable and casual apparel wear during their everyday routines. Rising demand from emerging economies is driving various innovations within the textile industry.

5. Increased Textile Production: Demand from various end users increases manufacturers' production capabilities. India is the second largest textile producer in the world, accounting for more than 7% of the global output.

6. Stringent Regulation from Various Government Bodies: Various government agencies are prompting increased production of bio-based products. Local garment manufacturers are adopting natural or greener raw materials to lower pollution levels.

7. Sustainable Economic Outlook: A major driver of the global Eco Fibers market is the growing interest and investments in environmental sustainability. Studies have indicated that the rising utilization of such fibers within a circular economy is important in many end industries. Regenerated textile fibers are crucial as major fashion companies can improve their sustainability policies.

8. Rising Adoption of Eco Fibers: According to the Textile Exchange Market Report, global fiber production grew to 113 million tonnes in 2021. Major collaborations and initiatives undertaken by various public and private sectors is expected to fuel the growth of the global Eco Fibers market during the forecast period.

9. Public Awareness to Propel Market: The vast of fabric waste produced from increasing fashion has led to technological developments in fiber technology. This has led to the creation of more sustainable fibers. Additionally, increasing consumer inclination to demand eco-friendly products and rising consumer awareness about environmental degradation will fuel incremental growth.

Market Segmentation

The global Eco Fibers market can be categorized as Types, Applications, and Regions. Based on Types, the market can be categorized into Regenerated Fibers, Recycled Fibers, Organic Fibers, and Other Types. Furthermore, the market can be segmented based on Applications across Clothing/ Textile, Household Furnishing, Industrial, Medical, and Other Applications. Likewise, based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Types

Organic Fibers to Lead Market Growth Owing to Changing Consumer Preference Towards Eco-Friendly Components

Organic fibers are expected to occupy the largest market share in revenue as consumers are inclining an eco-friendly approach to their products. According to Textile Exchange, organic cotton production increased to more than 239 KT in 2019. Organic cotton is produced in controlled settings without herbicides, chemicals, or pesticides. Organic cotton is the most widely utilized source of Eco Fibers due to its desirable properties. These factors are expected to increase the segmental growth of organic fibers. Recycled fibers are expected to grow with the fastest-growing CAGR during the forecast period as they are naturally produced and have almost zero environmental impact.

Based on Applications

Clothing/Textiles to Occupy Largest Market Share while Medical to Grow with the Fastest Growing CAGR

Clothing/textiles are expected to witness the largest market share in volume. This incremental growth can be attributed to the growing global fashion industry and rising demand for various types of clothing in designer, casual, and formal wear categories. Additionally, this demand is arising from all age groups. Increasing economic revival after the pandemic, along with rising attraction to luxurious brand products among the younger generation, is expected to fuel sales of clothing/textiles. The Medical segment is expected to grow at the fastest growing CAGR during the forecast period owing to rising consumer spending for preventing diseases and promoting a healthier outlook.

Based on Region

Asia Pacific to Reign Dominance Owing to Rapid Economic Viability Due to Highly Populous Countries

The Eco Fibers market in Asia Pacific is expected to occupy the largest market share in sales. This trend is expected to continue during the entire forecast period. The region is home to two of the most populous countries in the world, such as China and India. Studies indicate that higher economic viability can be recorded in terms of revenue owing to the increased shortage in population. Increasing demand for fiber from clothing and industrial applications is driving sustainable market growth in the region. Additionally, increasing demand from various end users, including textiles, automotive, and construction, will fuel extensive market growth.

North America is expected to grow with the fastest-growing CAGR during the forecast period owing to an existing regional medical industry. Also, technological advancements are being made to harmlessly dispose of medical waste without causing much effect on the environment. These factors are expected to prompt sustainable Eco Fibers market growth during the forecast period.

Competitive Landscape

The competitive landscape for the global Eco Fibers market is highly competitive due to the presence of numerous international and regional players. The industry is constantly progressing due to the availability of raw materials and cheap labor. Additionally, innovations in the research & development departments and extensive marketing strategies are expected to expand their presence within their respective consumer base. The global Eco Fibers market is characterized by players engaging in mergers & acquisitions along with aggressive marketing strategies.

The key players in the global Eco Fibers market are Lenzing AG (Austria), US Fibers (US), Polyfibre Industries (India), Grasim Industries Ltd (India), Wellman Advanced Materials (US), Shanghai Tenbro Bamboo Textile Co. Ltd. (China), China Bambro Textile (Group) Co. Ltd. (China), Pilipinas Ecofiber Corporation (Philippines), Teijin Limited (Japan), David C (US), Poole Company, Inc (US), Foss Performance Materials (US) to name a few.

Recent Market Developments

· 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 they 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.

· May 2019: Aditya Birla Group and Grasim Industries announced they were expanding their specialty fibers business, increasing its capacity by more than 40%. This increase in production is expected to happen over the next two years.

· April 2019: Aditya Birla Group's Cellulose, the pulp and fiber business section, announced launching the plantable tag for their eco-enhanced variant, Levaeco. This new product launch will attract consumers due to the increasing adaption of eco-friendly practices throughout the manufacturing process.

Segmentation of the Global Eco Fibers Market