Natural Fiber Market to Expand at CAGR of 7.5% during Forecast Period 2023-2031

Posted by Kaustubh Ravan on July 9th, 2024

The global natural fiber market was valued at US$ 4.8 Bn in 2022 and is likely to reach US$ 9.2 Bn by 2031, expanding at a CAGR of 7.5% during the forecast period between 2023 and 2031.

Expansion of end-use sectors, such as medical, electronics, textiles, agriculture, and packaging, is expected to increase demand for natural fibers. Rise in demand for eco-friendly, sustainable, and organic items and surge in utilization of lightweight materials in the automotive industry are anticipated to drive market development.

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Compared to synthetic fibers, natural fibers have a lesser environmental impact and are renewable and biodegradable. Demand for natural fibers such as jute, cotton, wool, silk, and hemp, is constantly increasing as ethical and responsible consumption is on the rise. Technological advancements and shifting customer tastes are anticipated to drive industry growth. Leading companies are concentrating on enhancing the sustainability and affordability of natural fiber manufacturing to expand market share.

Natural fiber is a sustainable material that is often utilized in textiles and several other industries. It is often utilized in fabric and yarn forms in the textile industry. Furthermore, natural fiber is used in the production of single or composite constructions, boards, and cars. Given their affordability, ease of processing, low density, and robust physical and mechanical qualities, natural fibers offer more sustainable options. Natural fibers are non-carcinogenic and biodegradable. This, paired with their cost-effectiveness, is likely to boost the use of natural fibers. There are two primary categories of natural fibers: animal-based and plant-based.

Key Findings of Market Report

• The plant-based fiber segment is anticipated to expand significantly between 2023 and 2031. Rise in consumer demand for sustainable and environmentally-friendly products as well as increasing knowledge about the damaging effects of animal and synthetic fibers on the environment are likely to fuel demand for natural fiber. Moreover, the demand for plant-based fibers is anticipated to grow as new methods for processing and manufacturing them are developed.

Global Natural Fiber Market: Growth Drivers

• Demand for natural fibers is anticipated to increase between 2023 and 2031, as customers become more environmentally conscious and seek sustainable products. Natural fibers are produced by natural means; as a result, these have minimal environmental effects. However, certain fertilizers, herbicides, and other hazardous substances are utilized in order to increase production of these fibers. This could be detrimental to the environment. Natural fibers such as linen, silk, wool, and cotton are used to make garments and other fabrics in the textile business. In the textile industry, cotton is the most widely used natural fiber. Consumption of organic cotton, which is produced without the use of artificial fertilizers or pesticides, is increasing across the world. Similarly, usage of silk and wool derived from sustainably managed animals is consistently expanding.
  
  
• The automotive sector is one of the biggest consumers of natural fibers, where these are used in both exterior and interior parts of vehicles, including seat coverings, dashboard trims, and door panels. Due to biodegradability and recyclable properties, natural fibers, including hemp, kenaf, sisal, and flax, are frequently utilized in the manufacturing of vehicle parts.

Global Natural Fiber Market: Regional Landscape

• The market in Asia Pacific accounted for significant share of the global industry in 2022, according to the latest market report. The region is expected to dominate the global natural fiber market in the near future. The natural fiber industry in Asia Pacific is anticipated to be driven by expansion of the medical and textile sector.

Global Natural Fiber Market: Key Players

Some of the key players in the global natural fiber market are as follows

• China Bambro Textile (Group) Co., Ltd.
• Jaydeep Cotton Fibers Pvt. Ltd.
• The Flax Company SARL
• Industrial Hemp Manufacturing, LLC
• Castellins NV

Global Natural Fiber Market: Segmentation

Type

• Plant-based Fiber
• Animal-based Fiber

End-use

• Packaging
• Automotive
• Agriculture
• Electrical & Electronics
• Textile
• Medical
• Others

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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