The Global Biodegradable Fabrics Market product description and advantages includes biodegradable fabrics such as polylactic acid, cellulose,PHA, polyester that are environment friendly and are produced using renewable resources through sustainable processes like fermentation, enzyme catalyzed polymerization and natural polymer extraction. Biodegradable fabrics are an alternative to synthetic fabrics that are non-renewable and causes pollution during production and end of life. These fabrics decompose completely without harming the environment through micro-organism activity which makes them suitable for apparels, home textiles and healthcare products.
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.
The rising consumer preference for sustainable products along with stringent regulations regarding plastic waste has increased the demand for biodegradable fabrics across various sectors.
The market players are expanding globally through partnerships, product innovation and marketing campaigns to increase their market share in high growth regions of Asia Pacific and Latin America.
Market key trends
One of the key trends in the Global Biodegradable Fabrics Market is the development of new biodegradable materials. Continuous research in biotechnology, nanotechnology and material science has led to the development of novel biodegradable polymers and fibers like polylactic acid, polyhydroxyalkanoates, Polybutylene succinate which can be molded into fabrics. These materials have properties superior to existing biodegradable fabrics and open up new applications. Also, the market players are focusing on incorporating antibacterial and moisture wicking properties into biodegradable fabrics for markets like healthcare and sportswear which will drive their increased adoption.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant investment is required for research, development, manufacturing and marketing of biodegradable fabrics. Bargaining power of buyers: The bargaining power of buyers is high due to availability of alternatives and price sensitivity of buyers for sustainable fabrics. Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for biodegradable fabrics are available from various sources globally. Threat of new substitutes: The threat of new substitutes is high as alternative sustainable materials like recycled PET are challenging biodegradable fabrics. Competitive rivalry: Competitive rivalry is high owing to presence of several well-established players globally producing eco-friendly fabrics.
The geographical region where the global biodegradable fabrics market is currently concentrated in terms of value is Europe. Countries like Germany, UK, France and Italy are some of the major markets in Europe due to stringent environmental regulations regarding use of synthetic fabrics. The fastest growing region for the global biodegradable fabrics market is Asia Pacific primarily due to rising population, increasing disposable income, growing awareness about sustainability in countries like China and India.