May 22, 2024

Global Biodegradable Fabrics Market Poised to Register High Growth due to Increasing Prominence of Sustainable Fashion

The global biodegradable fabrics market is gaining traction owing to growing shift towards sustainable fashion and rising awareness regarding environmental protection. Biodegradable fabrics are created from plants and other naturally occurring polymers that can break down and decomposed by microorganisms into natural elements. Key properties of biodegradable fabrics include breathability, moisture-wicking, enhanced insulation, and durable texture. The increasing use of biodegradable fabrics in clothing, home décor, agriculture, and medical industries is fueling market growth.

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., KLS Martin Group. Leading companies are investing heavily in research and development activities to widen their product portfolio and strengthen market presence.

The key opportunities in The Biodegradable Fabrics Market include growing demand for sustainable packaging materials from various industries and increasing focus on developing biodegradable textiles from agricultural residues and natural cellulosic materials. Technological advancements such as creation of biodegradable fabrics from greenhouse gas-capturing polymers, development of breathable melt-spun fabrics using polylactic acid, and production of mulch films from food processing byproducts are expanding application scope of biodegradable fabrics.

Market drivers
Stringent government regulations regarding use of plastic-based non-biodegradable materials are a major market driver. Rising consumer awareness about adverse environmental impacts of conventional fabrics and growing preference for clothing and home décor products made from eco-friendly materials are propelling the biodegradable fabrics market growth. Furthermore, growing textile industry in developing nations along with increasing industrial and agricultural applications of biodegradable fabrics are estimated to boost market expansion over the forecast period.

Current Challenges in Global Biodegradable Fabrics Market
The global biodegradable fabrics market is facing various challenges such as high manufacturing costs, lack of awareness, and performance issues of biodegradable fabrics. Biodegradable fabrics are more expensive to produce than regular fabrics due to the additional manufacturing processes involved and costs of procuring raw materials from sustainable sources. There is also a lack of awareness among consumers about benefits of using fabrics made from biodegradable materials. Some biodegradable fabrics do not provide the same durability, strength or functionality as synthetic fabrics. Certain fabrics made from natural fibers like cotton cannot decompose easily. This affects their large-scale adoption. However, companies are constantly working to reduce costs and improve performance of biodegradable fabrics through technological advancements.

SWOT Analysis
Strength: Biodegradable fabrics help reduce pollution and are environment-friendly. They decompose completely without harming the environment.
Weakness: Biodegradable fabrics have higher production costs than normal fabrics. Performance issues like durability are a concern.
Opportunity: Growing consumer awareness about sustainability and eco-friendly products is driving demand. Innovation in materials and manufacturing will boost market potential.
Threats: Stiff competition from widely used conventional fabrics poses a threat. Economic slowdowns impact sales of these higher priced fabrics.

Geographically, the market in Europe currently accounts for the largest share in terms of value owing to strict government regulations mandating use of eco-friendly products. North America is another major regional market driven by high health and environmental consciousness among consumers. Asia Pacific is projected to be the fastest growing market during the forecast period led by strong GDP growth, rising disposable incomes, and expansion of textile and apparel industries in countries like India and China. Countries in Latin America and Middle East & Africa also offer lucrative opportunities for biodegradable fabric producers.

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