The global biodegradable fabrics market is gaining traction due to rising consciousness about environmental protection. Biodegradable fabrics are manufactured using natural fibers such as bamboo, soy, linen and cotton that decompose without harming the environment. These fabrics help reduce landfill waste and lower carbon footprint.
The global biodegradable fabrics market is estimated to be valued at US$ 6.76 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rise of sustainable fashion is a major trend driving the growth of biodegradable fabrics market. Today’s consumers, especially millennials and generation Z are increasingly preferring apparel and textiles made from organic and eco-friendly materials. They want to make sustainable choices that are better for environment. Furthermore, stringent regulations regarding textile waste management and bans on single use plastics in some countries are also helping promote use of biodegradable fabrics among manufacturers. This has propelled many leading fashion brands to introduce clothing lines made from biodegradable materials like bamboo rayon and banana fiber, further augmenting demand in the market.
SWOT Analysis
Strength: Biodegradable fabrics are environment friendly as they decompose without harming the environment. They provide protection against insects and germs as they are made from natural fibers.
Weakness: Biodegradable fabrics are expensive as compared to conventional fabrics. They have low durability and need to be replaced frequently.
Opportunity: Increasing consumer awareness about environmental issues is driving the demand for sustainable fabrics. Growing textile industry in Asia Pacific offers vast growth opportunity.
Threats: Availability of cheaper synthetic fabrics is a major threat. Fluctuations in prices of raw materials impact the overall costs.
Key Takeaways
The global Biodegradable Fabrics market is expected to witness high growth. Global Biodegradable Fabrics Market Demand is projected to reach US$ 6.76 Bn by 2024, growing at a CAGR of 13% during the forecast period.
Regional analysis: Asia Pacific dominates the global market and is projected to maintain its lead position during the forecast period. Growing textile industry and rapid industrialization in China, India and other Asian countries drives the demand.
Key players operating in the 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., and KLS Martin Group.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
