Burlingame, March 21, 2024 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, Recycled Textile Market, By Material Type (Polyester, Cotton, Nylon, Wool, Viscose Rayon, and Others), By Textile Waste Source (Post-consumer, Pre-consumer/Post-industrial, Production Overruns, Pullouts, Export Seconds, and Others), By End-use Industry (Apparel, Home Furnishings, Automotive, Industrial, and Others), By Recycling Method (Mechanical, Chemical, Thermal, and Others), By Distribution Channel (Online, Retail Stores, Specialty Stores, Department Stores, and Others), and By Geography: Size, Share, Outlook, and Opportunity Analysis, 2023-2030. According to the report the global recycled textile market is generated $5.61 billion in 2023, and is anticipated to generate $8.32 billion by 2030, witnessing a CAGR of 5.8% from 2023 to 2030.
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Market Dynamics:
The Recycled Textile Market is primarily driven by the growing trend of sustainable fashion and the increasing awareness among consumers regarding the environmental impact of the textile industry. Additionally, stringent government regulations promoting sustainable practices in the textile industry are further fueling the market growth.
Recycled Textile Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2022 | $5.61 billion |
| Estimated Value by 2030 | $8.32 billion |
| Growth Rate | Poised to grow at a CAGR of 5.8% |
| Historical Data | 2018–2021 |
| Forecast Period | 2023–2030 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material Type, By Textile Waste Source, By End-use Industry, By Recycling Method, By Distribution Channel |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Growing environmental concerns • Government regulations and initiatives • Increasing consumer awareness • Advancements in recycling technologies |
| Restraints & Challenges | • Quality issues with recycled textiles • High costs compared to conventional textiles • Complex textile recycling processes |
Market Trends:
One key trend in the Recycled Textile Market is the growing popularity of upcycled clothing, wherein old textiles are redesigned and repurposed into new, trendy pieces. This trend not only promotes sustainability but also caters to the rising demand for unique and eco-friendly fashion choices. Another trend is the increasing adoption of circular economy principles by textile manufacturers, wherein they focus on reducing waste and maximizing the lifespan of textile products through recycling and reusing processes. This shift towards a circular economy model is expected to drive innovation and growth in the recycled textile market in the coming years.
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The recycled textile market is witnessing a significant growth opportunity due to the increasing demand for sustainable and eco-friendly textile products. With growing awareness about environmental issues and the need for sustainable practices, consumers are actively seeking out products that are made from recycled materials. This trend is driving the demand for recycled textiles, as they offer a more environmentally friendly alternative to traditional textiles made from virgin materials. As a result, manufacturers and retailers are increasingly incorporating recycled textiles into their product lines to cater to this growing demand for sustainable products. This market opportunity presents a promising outlook for the recycled textile market, with the potential for further growth and expansion in the coming years.
Another market opportunity for the recycled textile market stems from government initiatives and regulations that are aimed at promoting textile recycling. As governments around the world focus on sustainability and environmental conservation, many have introduced policies and regulations to encourage textile recycling and reduce the amount of textile waste going to landfills. These initiatives include measures such as textile recycling programs, tax incentives for companies that use recycled materials, and increased funding for research and development in recycling technologies. As a result, the recycled textile market is benefiting from these government efforts, with more companies and organizations embracing textile recycling as a way to meet regulatory requirements and reduce their environmental impact. This market opportunity provides a favorable environment for the growth of the recycled textile market, with the potential for increased adoption of recycling practices in the textile industry.
Recent Developments:
In January 2022, Circulose was introduced by Renewcell for use by fashion brands made from recovered textile waste.
In September 2021, a brand new recycled polyester fibre produced entirely of recycled PET plastic was introduced by Teijin Fibers.
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Key Market Takeaways:
Recycled Textile Market is anticipated to witness a CAGR of 5.8% during the forecast period 2023-2030, owing to the growing demand for sustainable and eco-friendly textile products.
On the basis of material type, the polyester segment is expected to hold a dominant position, owing to its widespread use and versatility in various applications. By textile waste source, the post-consumer segment is expected to dominate, as more companies focus on recycling products at the end of their lifecycle.
In terms of end-use industry, the apparel sector is expected to lead the market, driven by consumer preference for sustainable clothing options. The mechanical recycling method is expected to dominate the market, as it offers a cost-effective and efficient way to recycle textiles.
In terms of distribution channel, online sales are expected to dominate, as consumers increasingly shop for sustainable products online. North America is expected to hold a dominant position in the market, due to the region's strong focus on sustainability and environmental conservation.
Key players operating in the recycled textile market include Unifi, Martex Fiber, I:CO, Renewcell, Lone Star Textiles, Retex Textiles, Leigh Fibers, Prokotex, Santanderina Group, and Kirklees Wools, who are driving innovation and growth in the market. Overall, the recycled textile market is poised for significant growth, as consumers, companies, and governments increasingly prioritize sustainability and environmental responsibility.
Read complete market research report, " Recycled Textile Market, By Material Type, By Textile Waste Source, By End-use Industry, By Recycling Method, By Geography, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031", Published by Coherent Market Insights.
Detailed Segmentation:
By Material Type:
- Polyester
- Cotton
- Nylon
- Wool
- Viscose Rayon
- Others
By Textile Waste Source:
- Post-consumer
- Pre-consumer/Post-industrial
- Production Overruns
- Pullouts
- Export Seconds
- Others
By End-use Industry:
- Apparel
- Home Furnishings
- Automotive
- Industrial
- Others
By Recycling Method:
- Mechanical
- Chemical
- Thermal
- Others
By Distribution Channel:
- Online
- Retail Stores
- Specialty Stores
- Department Stores
- Others
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
Browse through Coherent Market Insights Advanced Materials Research Reports.
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