February 29, 2024
Skin Fibre Market

Global Skin Fibre Market Is Estimated To Witness High Growth Owing To Rising Consumer Spending On Premium Textile Products

The skin fibre market is estimated to be valued at US$ 825.1 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Skin fibres are natural biodegradable fibres extracted from the outer layer of plants, animals and insects. They are lightweight, hypoallergenic, moisture wicking and durable. Major applications of skin fibres include apparel, home textiles, healthcare and industrial. Growing awareness about eco-friendly natural fibres is fuelling their demand in premium clothing and home furnishings.

Market Dynamics:-

The skin fibre market is driven by rising consumer spending on sustainable premium textile products and increasing adoption of natural fibres in mainstream clothing. According to World Bank data, global personal consumption expenditures increased from USD 49.7 trillion in 2019 to over USD 53 trillion in 2021. Consumers are willing to pay more for apparel, home textiles and other products made from natural biodegradable fibres like skin fibres. Additionally, strict environmental regulations in Europe and North America regarding usage of synthetic fibres are also propelling the market growth. However, high manufacturing and processing costs of skin fibres compared to synthetic fibres may hamper the market expansion. Ongoing R&D activities to develop innovative application areas and introduce cost-effective production technologies will create new opportunities over the forecast period.

SWOT Analysis:-

  • Strength: Skin fibre is a renewable and biodegradable material. It is derived from natural resources and therefore considered environment friendly. It offers excellent moisture management properties and helps keep the skin dry and comfortable. Skin fibre garments are softer, lightweight and breathable.
  • Weakness: Skin fibre is more expensive as compared to other synthetic fabrics. It requires more water and chemicals during production which increases manufacturing costs. Dependence on natural resources for raw material availability can impact steady supply.
  • Opportunity: Rising awareness about sustainability and eco-friendly products is driving demand for natural fibres. Increased usage of skin fibre in athleisure and activewear categories due to superior performance properties. Growing health consciousness is prompting users to prefer natural fabrics over synthetic materials.
  • Threats: Fluctuation in prices of cotton crop based on seasonal changes can impact raw material costs. Strong competition from affordable synthetic fabrics poses pricing challenges. Trade barriers and policies affecting imports/exports dynamics can disrupt supply chains.

Key Takeaways:-

The Global Skin Fibre Market Demand is expected to witness high growth, exhibiting CAGR of 11% over the forecast period, due to increasing preference for eco-friendly materials. Americans and Europeans are actively shifting to sustainable fabrics leading to demand uptick in these regions.

Regional analysis: Asia Pacific dominates the global skin fibre market, accounting for over 35% of the total share in 2023. China, India, Indonesia and Vietnam have emerged as major producers and consumers due to abundant cotton crop cultivation. North America and Europe follow APAC in terms of both production and usage of skin fibre.

Key players operating in the skin fibre market are DuPont de Nemours, Inc., Lenzing AG, Kelheim Fibres GmbH, Asahi Kasei Corporation, Grasim Industries Limited, Sateri Holdings Limited, Tangshan Sanyou Group Co., Ltd., Birla Cellulose, Indo Bharat Rayon, China Bambro Textile Co., Ltd. Most companies focus on expanding capacities and geographical reach through acquisitions and partnerships.

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