There are several arguments for why Physical Theatre has become such a popular force in modern theatre.
The use of instantly recognizable human behavior, codified to celebrate both our “common well” plus our individual and cultural differences creates a visceral communication. With its roots deeply in ritual (one could even argue that ritual developed from early physical storytelling), the work taps into a basic human need.
Physical expression allows the material to transcend lingual barriers. In the increasingly globalized and multi-cultural makeup of the modern western cities, this is an important factor to look at. Further as market forces are driving small theatre (and this is a global phenomenon) to tour abroad, the ability to reach diverse audiences of various lingual and cultural backgrounds quickly and effectively is a necessity.
As the act of speaking is itself a physical action, one could argue that there is no such thing as a Non-Physical Theatre, simply degrees of how far one wants to go in practice. The performance of a modern western text based play is still an act of physical theatre and all the rules governing it are just as valid. We received information thought how the actors are positioned in space, what physical relationship exists between them, etc that is just as important, if not more so, than the spoken words. In fact a well performed play can followed no matter what language it is in as long as the objectives are clear to the artists and the physical human behaviors are true. This especially important in poetic texts where audiences may have a preconceived aversion to the textual material.
Further physical theatre is the logical evolution in Western Theatre, not only due to practical needs, but building from the past works of artists like Tyrone Guthery and Peter Brooks. Both artists have a tremendous effect on modern theatre and both artists looked to the past for their inspirations; Guthrie looking to the Elizabethan bare stage and Brooks to traditional theatre practices from various cultures. Both of these lead to Physical Theatre elements.
Another argument that can be made is simply theatre is regaining her rightful place. As other mediums like film and TV succeed perhaps are even more successful, with dialogue and character based material, theatre is returning to her roots as a multi-disciplined practice that includes the physical.