The global eco-fiber market size was valued at USD 45.76 billion in 2020. The market grew from USD 48.89 billion in 2021 and reached USD 86.62 billion by 2028, exhibiting a CAGR of 8.5% during the forecast period. The rising application of fiber in several industries and strong demand for sustainable fibers are expected to fuel the market growth. Fortune Business Insights™ presents this information in its report titled “Eco-Fiber Market, 2021-2028.”
Eco-friendly fiber is a sustainable fiber resistant to mildew, molds, and eliminates the adoption of chemicals and pesticides. The rising adoption of fiber in commercial, home, and apparels applications is expected to boost the adoption of the product. Furthermore, the rising demand for sustainable fibers leads to the adoption of environment-friendly techniques to manufacture effective fibers. Moreover, textile manufacturers invest heavily in developing natural and environment-friendly fibers to eliminate the issue of waste fabrics. These factors are expected to foster the market development in the coming years.
COVID-19 Impact
This market is expected to be affected negatively during the COVID-19 pandemic because of the restrictions imposed on manufacturing. The rise in COVID-19 cases led to the imposition of stringent lockdown norms by governments. Further, restrictions on transport led to the lack of raw materials required to produce the fiber. However, lockdown relaxations and the adoption of production machinery, sanitization methods, social distancing, and reduced capacities enabled manufacturers to recover costs and boost their annual revenues.
Segments
By type, the market is segmented into regenerated fibers, recycled fibers, organic fibers, and others. Based on application, it is classified into medical, industrial, household & furnishing, clothing/textile, and others. Geographically, it is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Browse Summary: https://www.fortunebusinessinsights.com/eco-fiber-market-106356
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