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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).
Market Summary:
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