The recycling market of apparel is likely to be valued at $5.8 million in 2022 and is expected to grow at a CAGR of 10.7% through 2032, said a report.
According to the report, published by ‘Future Market Insights Global and Consulting’, the demand for apparel recycling is likely to remain strong with an anticipated valuation of US$16 billion by 2032.
Recycled polyester, with its durability and strength, is likely to remain the preferred recycled clothing type during the forecast period.
The report also claimed that the Asia Pacific is likely to be the fastest-growing clothing recycling market during the forecast period.
In 2022, the Europe clothing recycling market is likely to hold a share of 26%, the largest at the global level.
The apparel recycling market of North America to stand at the second position with a share of 24% in the global market in 2022, the report claimed.
Adoption of clothing recycling methods is also seen as a powerful tool against fast-changing fashion trends.
With numerous circular movements undertaken for furniture recycling, shoe recycling, and 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.