by The Global Biodegradable Fabrics Market is estimated to be valued at US$ 5.86 Bn or Mn 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 refer to textile materials that can decompose or break down naturally under aerobic and/or anaerobic conditions within a reasonable period of time. These fabrics are made from eco-friendly materials such as bamboo fiber, soy fiber and eucalyptus fiber. They offer various advantages over conventional fabrics such as soil enrichment, less greenhouse gas emissions and minimizes usage of finite resources. The growing demand for eco-friendly products due to rising environmental concerns coupled with new biotechnological innovations has boosted the usage of biodegradable fabrics for various applications in the textile industry.
Market key trends:
The biodegradable fabrics market is witnessing significant growth owing to rising demand for ecolobic fibers like bamboo, soy and eucalyptus. Bamboo fiber is widely gaining popularity as an alternative to cotton due to its quick growing nature, low input requirements and hypoallergenic properties. Green startups are launching new biodegradable fabrics made from agricultural residues and blending them with traditional fibers to make them entirely compostable. The evolving biotechnology is enabling development of biodegradable fabrics from microbial fermentation that can decompose without leaving any toxic residues. Stringent regulations regarding usage of environmental-friendly materials are further propelling various brands and manufacturers to adopt biodegradable fabrics.
Porter’s Analysis:
Threat of new entrants: Low capital requirements and established buyers, suppliers and distribution channels lower barriers to entry in the biodegradable fabrics market. However, dominant players’ strong brand image and customer loyalty poses a challenge for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price comparison across players. However, demand for eco-friendly fabrics increases buyers’ dependency on suppliers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternatives and capabilities of large players to develop textile manufacturing. However, dependence on cotton and hemp crops can influence prices.
Threat of new substitutes: Threat from substitute products like synthetic and plastic-based fabrics is low due to stringent regulations favoring biodegradable fabrics and growing consumer preference for eco-friendly attributes.
Competitive rivalry: Intense competitive rivalry exists among existing players characterized by product innovation, marketing & brand-building.
Key Takeaways:
The Global Biodegradable Fabrics Market Demand is expected to witness high growth, exhibiting CAGR of 12.6% over the forecast period 2023 – 2030, due to increasing consumer awareness about environment sustainability.
Regional analysis: North America dominates the global biodegradable fabrics market currently, owing to stringent regulations regarding reducing waste and high adoption of sustainable products. Asia Pacific is expected to witness fastest growth over the forecast period with China and India emerging as major markets on account of increasing textile production and manufacturing hubs shifting from developed regions.
Key players: Key players operating in the biodegradable fabrics market are Ecologic Fiber, Enka Textile, Hemp Inc, David C. Poole, Eco Textile, Propex, Greenfibres, EnviroTextiles, Vestagen Protective Technologies, W.L. Gore & Associates, Taiwan Singtex Industrial Company, Tengri, Bcomp, Flexform Technologies, Aquafi, Eucarpe, Toad&Co, Amadou Naturals, Back Beat Co., and SynZenta.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
