NEW YORK, Oct. 29, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The global bio-based fibre market size is estimated to grow by USD 18.6 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.7% during the forecast period. Diverse feedstock utilization for production of bio-based fibres is driving market growth, with a trend towards growing shift toward eco-friendly textiles. However, variability in costs of raw materials of bio-based fibres poses a challenge.Key market players include Acegreen Eco-Material Technology co, Ltd., AMSilk GmbH, Bambooder Biobased Fibers B.V., Baoding Swan New Fiber Manufacturing Co., Ltd., BPREG Composites, China Bambro Textile Co. Ltd., China Populus Textile Ltd, David C. Poole Co. Inc., Grasim Industries Ltd, Lenzing AG, Qingdao Textiles Group Fiber Technology Co. Ltd., Sateri Shanghai Ltd., SCALE Advanced Biocomposites, Shanghai Tenbro Bamboo Textile Co. Ltd., Smartfiber AG, Teijin Ltd., and USFibers.
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
Bio-Based Fibre Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.7% |
Market growth 2024-2028 |
USD 18599.4 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 46% |
Key countries |
China, India, US, and Germany |
Key companies profiled |
Acegreen Eco-Material Technology co, Ltd., AMSilk GmbH, Bambooder Biobased Fibers B.V., Baoding Swan New Fiber Manufacturing Co., Ltd., BPREG Composites, China Bambro Textile Co. Ltd., China Populus Textile Ltd, David C. Poole Co. Inc., Grasim Industries Ltd, Lenzing AG, Qingdao Textiles Group Fiber Technology Co. Ltd., Sateri Shanghai Ltd., SCALE Advanced Biocomposites, Shanghai Tenbro Bamboo Textile Co. Ltd., Smartfiber AG, Teijin Ltd., and USFibers |
Market Driver
The textile industry is experiencing a shift towards eco-friendly and sustainable textiles due to increasing consumer demand for ethical and environmentally responsible products. Notable progress in this area is being made by the NorthEastern Handicrafts and Handlooms Development Corporation (NEHHDC), which secured the Oeko-Tex certification for its Eri Silk in August 2024. This certification, awarded from Germany, signifies the commitment to producing textiles free from harmful substances and under eco-friendly conditions. Eri Silk, a bio-based vegan silk, is produced through an ethical process where the silk moth naturally emerges from its cocoon, leaving the silk intact. This method aligns with global trends towards sustainable textiles and positions Eri Silk as a leading eco-friendly fabric. The certification also reinforces Eri Silk's status as a Geographical Indication (GI) product of Assam, highlighting its regional significance and authenticity. This recognition is expected to open new opportunities in the global export industry. The textile industry's move towards sustainability is driven by the need to reduce the environmental impact of production and promote a circular economy. Traditional craftsmanship can thrive in the modern market by aligning with contemporary values of sustainability and ethical production. The success of initiatives like NEHHDC's Eri Silk demonstrates the potential for eco-friendly textiles to drive growth in the global bio-based fibre market.
The Bio-Based Fibre Market is experiencing significant growth as businesses shift towards eco-friendly and sustainable solutions. Key trends include the use of Plant Fibres in Textile and Apparel, Nien Foun Fiber, and Bioplastics. Regulatory pressures are driving demand for Biodegradable films, Compostable containers, and Insulation materials. Natural fibers like Hemp-based products and Mycelium composites are popular in Sustainable Construction Materials and Green Packaging Solutions. Bio-Based Chemicals, Bioplastics, and Biopolymers like PLA, Bio-PET, and PHA are in high demand. Synthetic biology and Biorefinery processes are also gaining traction in the production of Bio-Based Polymers, Resins, Adhesives, and advanced Biofuels like Biodiesel and Bioethanol. The market also includes Sustainable Electronics, Semiconductors, and Eco-friendly Textiles like Mycelium Leather and Algae-based Textiles. Overall, the Bio-Based Fibre Market offers numerous opportunities for businesses looking to reduce their carbon footprint and meet sustainability goals.
Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!
Market Challenges
- The bio-based fibre market faces a significant challenge due to the fluctuating costs of raw materials, particularly cotton. The Cotton Corporation of India (CCI) procured 2.5 lakh bales of cotton at the Minimum Support Price (MSP) in December 2023 due to a sharp decline in prices. This drop is attributed to weak demand caused by the global economic crisis, affecting key markets like the US and Britain. Despite a low crop yield, cotton demand remains sluggish, leading to a two-year low in prices. This volatility in raw material costs poses a challenge for the industry in maintaining stable production costs and pricing strategies. In 2024, cotton futures on the Intercontinental Exchange in New York are quoted at around 78.25 US cents per pound, reflecting broader economic uncertainties. This variability necessitates strategic procurement practices and risk management to mitigate the impact of price fluctuations. Companies must diversify raw material sources, adopt flexible pricing models, and enhance operational efficiencies to adapt to market dynamics and ensure long-term viability.
- The Bio-Based Fibre Market is experiencing significant growth as businesses seek sustainable alternatives to traditional fibres. However, challenges persist in producing these fibres at scale. Biorefinery processes, synthetic biology, and various sources like plant-based materials, waste-derived materials, and microbial sources require optimization for cost-effectiveness. Bio-based polymers such as PLA, Bio-PET, and PHA face challenges in achieving parity with synthetic counterparts in terms of cost and performance. Cellulose-based materials, mycelium-based products, and algal biomaterials offer potential, but require further research and development. Hemp-based products and mycelium composites are gaining traction in sustainable textiles, while mycelium leather and algae-based textiles are emerging trends. Bio-based coatings, resins, adhesives, and advanced biofuels like biodiesel and bioethanol also present opportunities. Green steel production and sustainable electronics are areas of focus for chemical producers and innovative start-ups. Overall, the Bio-Based Fibre Market presents challenges and opportunities for businesses committed to sustainable production and innovation.
Discover how AI is revolutionizing market trends- Get your access now!
Segment Overview
This bio-based fibre market report extensively covers market segmentation by
- Application
- 1.1 Textiles and apparel
- 1.2 Home furnishings
- 1.3 Automotive
- 1.4 Others
- Type
- 2.1 Synthetic fibers
- 2.2 Natural fibers
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Textiles and apparel- The global bio-based fibre market is experiencing notable progress within the textiles and apparel sector, driven by the demand for eco-friendly alternatives to synthetic fibres. Mycelium, the web-like root structure of fungi, is a promising development in this area. Researchers explore mycelium as a sustainable substitute for synthetic fibres used in clothing due to its environmental benefits. Mycelium fibres are renewable, biodegradable, and have a lower environmental footprint compared to synthetic fibres, which contribute to pollution and are derived from non-renewable resources. Mycelium fibres offer several advantages for textiles and apparel. They are flexible, durable, and can be produced with various textures and finishes, making them suitable for diverse clothing types. Controlled environment cultivation ensures consistent quality and properties. This adaptability caters to the fashion industry's diverse needs, from high-end fashion to everyday wear. The market potential for mycelium-based textiles is significant, with increasing consumer awareness of environmental issues driving demand for sustainable fashion options. Brands incorporating bio-based fibres into their products differentiate themselves, appealing to eco-conscious consumers and aligning with global sustainability goals. Ongoing research and development are crucial for the success of mycelium-based textiles. Scientists refine growing and harvesting processes to improve properties and scalability, leading to new applications and broader industry adoption. Collaboration between researchers, designers, and manufacturers is essential to overcome technical challenges and bring sustainable materials to market. The future of bio-based fibres in textiles and apparel looks promising, with mycelium playing a key role. As the industry innovates and prioritizes sustainability, mycelium-based textiles' adoption is expected to grow, reducing fashion's environmental impact and paving the way for new, sustainable materials.
Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics
Research Analysis
The Bio-Based Fibre Market encompasses a range of natural and synthetic fibers derived from renewable plant sources, including Plant Fibre, Nien Foun Fiber, and Recycled Fibers. These fibers find extensive applications in various industries such as Textile and Apparel, Bioplastics, Natural Fiber Composites, Bio-based Chemicals, Sustainable Construction Materials, Green Packaging Solutions, Eco-friendly Textiles, Biodegradable Films, Compostable Containers, Insulation Materials, Bio-based Concrete, and more. The market is driven by increasing regulatory pressures to reduce carbon emissions and promote sustainability. The production of Bio-Based Fibres involves various processes such as Biorefinery Processes, Synthetic Biology, and the utilization of Microbial Sources, Plant-based Materials, and Waste-derived Materials. Key products include Bio-based Polymers like PLA (Polylactic Acid), Bio-PET, and PHA (Polyhydroxyalkanoates), as well as Cellulose-based materials. These fibres offer numerous benefits, including reduced carbon footprint, biodegradability, and eco-friendliness, making them a popular choice for industries seeking sustainable solutions.
Market Research Overview
The Bio-Based Fibre Market encompasses a diverse range of plant-derived fibres, including Nien Foun Fiber and natural fibers like hemp, used in various industries. These fibres find extensive applications in textiles and apparel, bioplastics, natural fiber composites, sustainable construction materials, green packaging solutions, and eco-friendly textiles. Regulatory pressures are driving the demand for biodegradable and compostable alternatives to traditional materials, leading to the development of biodegradable films, compostable containers, insulation materials, and bio-based concrete. Recycled fibers and biorefinery processes are also gaining traction, along with innovative start-ups exploring synthetic biology, microbial sources, and bio-based polymers like PLA (Polylactic Acid), Bio-PET, and PHA (Polyhydroxyalkanoates). The market also includes cellulose-based materials, mycelium-based products, algal biomaterials, and waste-derived materials. Applications span from bioplastics and eco-friendly textiles to advanced biofuels, sustainable electronics, and chemical producers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
- Textiles And Apparel
- Home Furnishings
- Automotive
- Others
- Type
- Synthetic Fibers
- Natural Fibers
- Geography
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article