Press release
Clothing Recycling Market to Grow at a CAGR of 10.7% through 2032 | Future Market Insights, Inc.
Clothing Recycling Market
Among the significant trends of recycling of clothes, sustainability is at the top. Since sustainability has garnered a lot of attention in recent time, on the back of the environmental concerns and irreversible effects of global warming, companies operating in the domain are launching campaigns to raise awareness about the pollution and landfill area clogging dueo to used textiles.
In addition to this, adoption of clothing recycling methods is also seen as a powerful tool against the fast-changing fashion trends. With numerous circular movements undertaken for furniture recycling, shoe recycling, textile waste of used clothes holds prominence. Owing to this, the recycling trend for clothes is undertaken not only by small-scale fashion hubs but also key players in the clothing recycling market.
The exclusive report on clothing recycling also sheds light on the key opportunities available in the market. Among the other lucrative opportunities, manufacturers are cashing in on the demand arising from the retail sector. Since the retail sector is inclusive of apparels and several other sub-domains that heavily reply on the textile industry, the sector is likely to remain a key revenue-generating channel for the market. Besides retail, revenue prospects are anticipated to remain strong from the automotive industry.
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Aesthetics to be a key driver that generates demand for recycled textiles in the automotive industry. Hence, with recycled textiles making up for a considerable value, auto makers can bring down the cost of their overhead by investing in recycled textile over new textile.
Key Takeaways
Stringent regulations pertaining to environment conservation in the Europe to keep the region's dominance high with an anticipated share of 26% in 2022.
The historical performance of clothing recycling market was relatively lower with a CAGR of 6.6% during 2017-2021. The increasing awareness about clothing recycling and technological innovation facilitating the ease of repurposing is likely to improve the growth rate of the market with a CAGR of 10.7% through 2032.
Retail sector is anticipated to be the key end-use industry through 2032.
Recycled polyester, with its durability and strength, is likely to remain the preferred recycled clothing type during the forecast period.
Asia Pacific is likely to be the fastest-growing clothing recycling market during the forecast period.
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Key Segments
By Type:
Cotton Recycling
Nylon Recycling
Wool Recycling
Polyester Recycling
Other Fiber Recycling
By End-use:
Apparel
Industrial
Home Furnishings
Non-woven
Other
By Waste Type:
Pre-consumer
Post-consumer
By Recycling Type:
Mechanical Recycling
Chemical Recycling
By Distribution Channel:
Online Channel
Retail & Departmental Store
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
Competitive Landscape
Some of the key players operating in the clothing recycling market include Worn Again Technologies, Evrnu SPC, Carbios, I:Collect GmbH, Renewcell, Fnfinited Fiber Company, PurFi Global LLC, MUD Jeans International B.V., CuRe Technology, Birla Cellulose, and others. There are numerous new entrants as well in the clothing recycling market, who have a keen eye on innovation in the industry. In addition to this, key players are trying to partner with key fashion brands for a long-term supplier-manufacturer deal.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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