According to the latest report by IMARC Group, titled " Global Eco Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global eco fiber market grew at a CAGR of around 4% during 2015-2020. Eco fiber is generally manufactured using eco-friendly materials that are usually grown without the utilization of chemicals or pesticides. It is commonly produced using various organic substances, including hemp, linen, banana, bamboo, wood, jute, insects, and ramie. These fibers are naturally resistant to mildew, molds and ultraviolet (UV) rays, highly breathable, antimicrobial, lightweight with excellent absorbent property and mechanical strength, due to which they are gaining widespread prominence among the masses. As a result, they are extensively utilized in the manufacturing of clothes, bags, tarpaulins, furniture fabrics and carpets.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Eco Fiber Market Trends:
The global market is primarily driven by rising environmental concerns among the masses. Coupled with the increasing awareness regarding sustainable development, there has been a shift toward the adoption of organic and eco fibers, which is creating a positive outlook for the market across the globe. Along with this, numerous initiatives undertaken by the governments of multiple countries to promote and encourage the production of eco-friendly fibers by introducing favorable schemes are providing an impetus to the market growth. Moreover, various technological advancements in the textile sector are also propelling the market growth. For instance, the widespread adoption of robotics and automation to improve the overall efficiency of the production process is positively influencing the market growth. Some of the other factors contributing to the market growth include inflating disposable income level of the masses, continuous improvements in the e-commerce sector and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to exhibit moderate growth during the forecast period (2021-2026).
- On the basis of the product, the market has been segmented into organic, manmade, recycled and natural.
- Based on the application, the market has been segregated into apparels, medical, household and furnishing and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include China Bambro Textile (Group) Co. Ltd., David C. Poole Company Inc., Foss Performance Materials LLC, Grasim Industries Limited (Aditya Birla Management Corporation Pvt. Ltd.), Lenzing AG, Pilipinas Ecofiber Corp., Polyfibre Industries Pvt Ltd., Shanghai Tenbro Bamboo Textile Co. Ltd., Teijin Limited, US Fibers and Wellman Advanced Materials.
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