ECO FIBER MARKET ANALYSIS

Market Challenges And Opportunities

Growing textile industry and fluctuations in prices of conventional fabrics are some of the major factors fuelling growth of the eco fiber market. Furthermore, major players operating in this market are increasingly engaging in the manufacturing of various eco-friendly products such as organic cotton and bamboo fibers. This in turn, is expected to propel growth of the eco fibers market. Production of organic cotton does not involve any pesticides or chemicals and reduces the consumption of water by around 70%. This is another major factor propelling growth of the eco fibers market, globally.

Among product types, the synthetic segment held a dominant position in the eco fiber market in 2016. However, this segment is expected to be dominated by its natural counterparts, over the forecast period (2017 – 2025). Natural fibers are made up of natural materials such as hemp and jute. However, over 60% of consumers still prefer synthetic fibers over natural fibers, owing to its easy availability. Among applications, the textile segment accounted for the largest market share in 2016, and is projected to retain its dominance over the forecast period.