Textile industry, despite being a front-line contributor to the global economy, is known to have significant impacts on the environment and society. This natural resource-demanding industry is associated with high consumption and substantial waste generation that lead to significant degradation of the environment. This chapter focuses on providing details on sustainable alternative approaches to the conventional consumption pattern of the natural resources with a view to paving a way for reducing the environmental footprint left by the world textile industry. It sheds light on the potentials of regenerated bio-based fibres, such as viscose, lyocell, modal, polylactic acid (PLA), polyhydroxyalkanoates (PHA), etc. in reducing the overall environmental impacts compared to other conventional fibres. The chapter presents the advancements made in the fields of regenerated bio-based fibres, the emerging technologies, sustainability metrices, the regulatory policies and the measures adopted by the global community with a view to implementing those policies.