Poised for substantial expansion, the global recycled cotton market is projected to nearly double from $5.02 billion in 2023 to $9.95 billion by 2033, demonstrating a robust CAGR of 7.08 per cent over the forecast period. This optimistic outlook comes from a recent research report by Spherical Insights & Consulting, highlighting the growing emphasis on sustainable practices within the textile industry.
The recycled cotton market revolves around transforming used or discarded cotton textiles into new, usable fibers. This eco-friendly approach not only reduces the environmental footprint of conventional cotton production but also decreases the demand for virgin cotton and diverts textile waste from landfills.
Several factors are fueling this market's momentum. Stricter environmental regulations and policies globally are pushing for minimized textile waste and increased recycling. Governments are actively promoting the use of recycled materials through various initiatives and incentives. Furthermore, rising consumer awareness about environmental issues is a significant driver. As individuals increasingly seek sustainable products, brands and manufacturers are integrating recycled cotton into their offerings, especially within the fashion industry. Major fashion brands and retailers are embracing recycled cotton to meet the surging demand for eco-friendly clothing and accessories.
In 2023, the recycled cotton yarn segment held the largest market share and is expected to maintain significant growth. Recycled cotton yarn is widely utilized in fashion and home textiles for knitting and weaving, valued for its quality and sustainability.
By application, the apparel segment dominated the market in 2023 and is anticipated to continue its strong growth. Recycled cotton is extensively used for a variety of clothing items, driven by increasing consumer preference for eco-friendly apparel.
Asia Pacific is projected to hold the largest share of the global recycled cotton market throughout the forecast period. This region is a major hub for textile manufacturing, with countries like Bangladesh, India, and China emphasizing sustainability, thereby boosting the demand for recycled cotton.
North America is expected to experience the fastest CAGR growth in the recycled cotton market. This growth is attributed to strong consumer awareness and supportive regulations that encourage the use of sustainable materials. Prominent fashion brands in the US and Canada are actively launching sustainable collections, setting a precedent for recycled cotton adoption.
