PUBLISHER: Grand View Research | PRODUCT CODE: 1233139
PUBLISHER: Grand View Research | PRODUCT CODE: 1233139
The global eco fiber market size is expected to reach USD 77.17 billion by 2030, expanding at a CAGR of 7.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rise in concern regarding the harmful environmental impacts of using synthetic fibers, which has been the major factor contributing to the increased demand for organic eco fiber for the past few years.
The increasing dependence on chemicals and pesticides to increase crop production has led to the mass degradation of the environment. This, in turn, has prompted governments and other regulatory bodies to follow numerous regulations. These regulations have been imposed on the manufacturing as well as disposal of synthetic sources of fiber production. This trend has further led to a shift in preference toward bio-based alternatives such as organic cotton, hemp, and other sources of eco fibers.
Eco fibers are also rapidly gaining popularity in designer garments and apparel. Continuous advancement in terms of the development of eco fiber textiles offering antimicrobial, hypoallergenic, insulating, UV resistant, highly breathable, and absorbent characteristics are expected to promote the importance of eco fibers in the clothing market over the forecast period.
Organic eco fibers is anticipated to witness the fastest growth rate across the forecast period. Organic cotton is gaining increasing popularity owing to its exceptional benefits such as the elimination of risks for chemical impact on human beings and surroundings and more premiums for the farmers. Additionally, organic cotton ensures health care and food security by providing contamination-free food.
However, the relatively small size of the organic clothing market has led to high prices of organic garments in the past few years. Sustainable fabrics are generally produced within the same manufacturing facility as that of conventional fabrics, thereby impacting the production time as well as cost, since all the machinery needs to be cleaned of conventional fabrics and contaminants prior to the production of sustainable fabrics.
The farming of conventional cotton and other crops involves the use of expensive GMO seeds and petroleum-based fertilizers. However, the growing and harvesting process of organic cotton is much longer as compared to conventional and chemically drenched cotton. Organic cotton harvesting does not involve the use of the aforementioned chemicals and is thus more labor intensive, leading to higher harvest costs.
The market is characterized by high capital investments and rising awareness regarding sustainable production methods and end-products. Key market players are continuously involved in R&D in order to develop novel eco-friendly fabrics and increase the renewable content of other fabrics. Additionally, the presence of established players, the rising focus on sustainability, and capital intensive nature of the market are expected to lower the threat of new entrants.