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 manufactured using natural and renewable plant-based materials like bamboo, jute, coconut and recycled post-consumer waste materials that help reduce dependence on oil-based textiles. These fabrics are widely used in home textiles, fashion apparel and medical textiles due to their eco-friendly properties.
Market Dynamics:
Increasing awareness about environmental pollution caused by non-biodegradable materials and growing focus on sustainability are expected to be the key drivers for the growth of the global biodegradable fabrics market over the forecast period. Rapid urbanization and rising disposable incomes in developing countries have led to higher consumption of textiles globally which has boosted the demand for eco-friendly alternatives like biodegradable fabrics that cause lesser pollution.
Market key trends:
The global biodegradable fabrics market has been witnessing strong growth owing to rising demand for eco-friendly and sustainable products. With rising environmental concerns, there is growing consumer preference for fabrics that can degrade completely without harming the environment. Biodegradable fabrics help reduce plastic waste and lessen pollution. Adoption of advanced biodegradation technology that allows fabrics to degrade when exposed to bacteria, water, sunlight or air is further fueling market growth.
SWOT Analysis
Strengths: Eco-friendly and sustainable nature of biodegradable fabrics. Ability to reduce plastic waste and pollution.
Weaknesses: Higher production cost compared to regular fabrics. Limited availability of biodegradable raw materials.
Opportunities: Growing environmental regulations supporting adoption of biodegradable products. Increasing consumer demand for sustainable fashion.
Threats: Availability of cheaper substitutes such as conventional fabrics. Slow development of biodegradation technology.
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 environmental awareness and sustainability efforts. The US$ 5.86 Bn market in 2023 is projected to reach US$ 12 Bn by 2030.
Regional analysis
North America currently dominates the global biodegradable fabrics market holding over 30% share owing to stringent regulations and high consumer awareness. Asia Pacific is forecast to witness fastest growth during the analysis periodled by booming textiles industry in countries like India and China.
Key players
Key players operating in the biodegradable fabrics market are Ecologic Fiber, Enka Textile, Hemp Inc, David C. Poole, Eco Textile, Propex, and Greenfibres. EnviroTextiles, Vestagen Protective Technologies, W.L. Gore & Associates, Taiwan Singtex Industrial Company, Tengri, Bcomp, Flexform Technologies, Aquafi, Eucarpe, Toad&Co, Amadou Naturals, and Back Beat Co. focus on adopting new technologies and materials to cater to the rising demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
