From Use to Recycle; Clothing Recycling Market is Creating Splashes with a CAGR of 10.7% through 2032 | Future Market Insights, Inc.

In 2022, the Europe clothing recycling market is likely to hold a share of 26%, the largest at the global level. With a lag of just 2%, the clothing recycling market of the North America stands at the second position with a share of 24% in the global market in 2022

/EIN News/ -- NEWARK, Del, Aug. 16, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the clothing recycling market is likely to be valued at US$ 5.8 Mn in 2022. Owing to the growing awareness pertaining to the circular movement, the adoption of clothing recycling is likely to grow at a CAGR of 10.7% through 2032. All-in-all, the demand for clothing recycling is likely to remain strong with an anticipated valuation of US$ 16 Bn by 2032.

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, Fabscrap, Infinited 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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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

Read More TOC…

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