The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The coronavirus disease (COVID-19) outbreak and the adoption of social distancing measures in numerous countries have halted many industrial activities, including textile manufacturing, which is expected to have a negative impact on the market.
The global textile recycling market is expected to exhibit a CAGR of 2.6% during 2022-2027.
The global textile recycling market reached a value of US$ 5.02 Billion in 2021.
The growing environmental consciousness, along with the increasing awareness regarding the adverse effects of heavy industrial discharge from textile mills, is bolstering the market growth.
One of the key market trends is the introduction of informative initiatives by various recycling companies. These organizations are also introducing door-to-door pick-up programs for old garments, as well as installing cloth bins in parking spaces, parks, shopping malls, walkways, and other high visibility locations.
Based on the product type, the market is bifurcated into cotton, wool, polyester and polyester fiber, nylon and nylon fiber and other types of recycling. At present, polyester and polyester fiber represents the largest segment.
The market is categorized into pre-consumer and post-consumer textiles, wherein pre-consumer textiles dominate the market.
Based on the distribution channel, retail and departmental stores account for the largest market share, followed by online channels.
On the basis of the end-use, the market has been classified into apparel, industrial, home furnishings, non-woven, and others. Apparel currently accounts for the majority of the market share.
Region-wise, Asia Pacific is the leading market. Other major regions are North America, Europe, Latin America, and Middle East and Africa.
The leading industry players are Anandi Enterprises, American Textile Recycling Service, Boer Group Recycling Solutions, I:Collect GmbH, Infinited Fiber Company, Patagonia, Inc., Prokotex, Pure Waste Textiles, Retex Textiles Inc., and Unifi, Inc.
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