As per the report published by Kings Research, the global Natural Fiber Market was valued at USD 48.75 billion in 2022. The market is projected to reach USD 74.99 billion by 2030, growing at a CAGR of 5.67% from 2023 to 2030.
The natural fiber sector is witnessing consistent expansion, driven by heightened consumer awareness of sustainability and the environmental concerns, which has led to a surge in demand for eco-friendly materials like cotton, wool, and hemp across multiple sectors. The market's expansion is further fueled by the rising preference for organic and biodegradable resources over synthetic alternatives.
Natural fibers, known for their durability and breathability, are well-suited for clothing and textile applications, offering consumers a comfortable and eco-conscious choice. Furthermore, technological advancements and improvements in production techniques have facilitated the innovative application of natural fibers, broadening their utilization in industries such as the automotive and construction sector.
Key Insights
- Based ontype, the cellulose-based segment held the largest market share of 67.41% in 2022
- Based on end use, the textile segment accounted for a significant market share of 49.32% in 2022
- On the basis of region, the Asia-Pacific accounted for the largest market share of 34.40% in 2022
Bast Fibre Technologies (BFT) acquires Faser Veredlung Tonisvorst (FTV)
Bast Fibre Technologies (BFT), a cleantech fiber engineering company from Canada, acquired Faser Veredlung Tonisvorst (FTV) for an unspecified amount. With this acquisition, BFT intended to enhance its production capabilities to meet the growing demand of its clientele and to support its expansion initiatives.
Increasing Demand for Sustainable and Eco-Friendly Products to Drive Industry Growth
Increasing awareness among consumers regarding the environmental repercussions of their purchasing choices is driving a surge in the demand for sustainable and eco-friendly offerings. This change in consumer attitudes is catalyzing the growth of the natural fiber market, as corporations are integrating these eco-conscious materials into their product lines.
Ranging from apparel to home essentials, natural fibers present a renewable and biodegradable substitute for synthetic alternatives, resonating with eco-aware shoppers. This trend is anticipated to persist, bolstered by a growing recognition of sustainability challenges and a consumer preference for products that reflect their ethical values.
In response to the needs of this environmentally mindful demographic, businesses are dedicating resources to research and development efforts aimed at innovatively weaving natural fibers into their offerings. This strategy aids environmental conservation efforts and provides a competitive edge in densely populated markets. With rising emphasis on sustainability, the natural fiber sector is poised to witness continued expansion in the foreseeable future, as consumers increasingly opt for products that are both environmentally friendly and of superior quality.
Expansion of Fashion Industry to Boost Natural Fiber Market Development
The growth of the textile and fashion industries is positively influencing the natural fiber market with the widespread adoption of sustainable methodologies and the integration of eco-friendly resources. Notably, advancements in technology have facilitated the production of organic cotton and bamboo textiles, which are increasingly being favored by consumers inclined toward eco-conscious selections.
Furthermore, the incorporation of natural fibers such as hemp and linen into designer collections underscores the adaptability and resilience of these materials. This shift toward more responsible and sustainable practices aligns with consumer preferences, impelling the expansion of the natural fiber market. Changing consumer preferences are encouraging designers and brands to prioritize eco-friendly materials in their product lines, marking a significant evolution within the industry, which is fostering the product outlook.
Asia-Pacific to Dominate the Market with a Value of USD 36.89 Billion by 2030
Asia-Pacific is contributing to the largest share of the global market revenue owing to the region's expertise in the cultivation and processing of natural fibers like cotton, silk, and jute. Moreover, the region benefits from climatic conditions that are particularly suited to the cultivation of natural fiber, ensuring consistent and dependable output. Additionally, the escalating global demand for eco-friendly and sustainable products has propelled the expansion of the regional natural fiber industry.
Market Players Are Focusing on Launching New Products to Gain a Competitive Edge
The global natural fiber market is consolidated with significant players, such as Vardhaman Textiles Limited, Grasim Industries Limited, ANANDHI TEXSTYLES, Bcomp, The Natural Fibre Company, Procotex, FlexForm Technologies, Bast Fibre Technologies Inc., Lenzing AG, and Barnhardt Natural Fibers, among others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.