Market Analysis & Forecasts

2023-02-02

Eco fiber market soars high in line with textile industry’s expansion

The world has been leading a journey toward minimizing environmental impact. With development of environmentally sustainable products picking pace, the significance of eco fiber as a viable material source is rising high. The global eco fiber market is thriving at a commendable rate and the innovative launches that are being made available on the market play an instrumental role in the market build-up.

In a new upcoming study, Fairfield Market Research intends to provide a thorough, valued insight into the eco fiber market space to reveal the growth forecast for the next few years. The report would consider 2022 – 2029 as the period of market assessment and finds the market gaining from the most desirable eco fiber attributes like renewability, biodegradability, lighter weight, and cost efficiency. The preliminary findings of the eco fiber market report show major contribution from the flourishing textile industry. The market also grows on the back of pricing volatility in case of conventional fabrics available on the market. Eco fiber is receiving tailwinds from soaring worldwide interest in bamboo fibers, and organic cotton, suggest report findings.

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Insights into Segmental Analysis

Increasing acceptance for environmental, economic, and social sustainability has added value to fashion industry’s growth. Textile industry remains the prime supplier to a wealth of fashion segments that predominantly generate demand for fabrics that have higher service life. Eco fibers are expected to gain traction in manufacturing of a variety of functional, luxurious fabrics. Manufacturers have been competing against conventional counterparts to enter the mainstream in near term. Textile is the largest application segment in eco fiber market while the other emerging areas of application include automotive seat covers, window seals, belts, home accessories, hydroponics, and furnishings. On the other hand, organic eco fiber continues to witness high demand banking on potential health benefits, greater UV resistance, and higher breathability. Growing eco fiber production through organic sources accounts for the prominence of the organic segment in global eco fiber market.

Insights into Regional Analysis

The developing economies of Asia Pacific currently spearhead the global eco fiber market and the trend will most likely prevail through the end of forecast year. In addition to phenomenal growth of textile and clothing industries, the market here is likely to benefit significantly from a completely favorable business environment, and cheaper land and labor costs. China, Japan, and India will remain the prime markets for potential investors as these nations house the region’s main manufacturing hubs. India especially is the key growth engine as it has been the top producer as well as consumer of eco fibers. The most desirable attributes of eco fibers, i.e., durability, versatile aesthetics, and cost efficiency are expected to push their application potential across segments like carpet and furniture material, packaging, geotextile. On the other hand, the developed regional markets of North America, and Europe reflect the fastest growth potential. The US currently leads the eco fiber market in former, whereas Germany, Turkey, and the UK drive European market for eco fiber as the Food and Agriculture Organization (FAO) of the UN reports.

Key Competitors in Global Eco Fiber Market

Aditya Birla Management Corporation Pvt. Ltd., Universal Fibres Inc., Tangshan Sanyou Group Xingda Chemical Fibre Co. Ltd., US Fibres, Lenzing AG, SATERI, European Industrial Hemp Association, Enkev Bv, Greenfibres, Flexform Technologies, Ecofibre, Envirotextiles, US Fibers, Hayleys Fibers, Esprit Global, Foss Manufacturing, Ananafit, David C. Poole, Ecological Fibers, Grasim Industries Limited, Lenzing AG, Teijin Ltd.

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Global Eco Fiber Market is Segmented as Below:

By Application

Clothing/Textile

Household & Furnishings

Industrial

Medical

Others

By Type

Organic Fibers

Recycled Fibers