Yahoo Finance Bio-based Leather Market Share Forecast to Increase to USD 1553.9 Million by 2034, at 8.2% CAGR: Prophecy Market Insights
“Bio-based Leather Market” from 2024-2034 with covered segments By Source (Mushroom Leather, Pineapple Leather, Apple Leather, Cactus Leather, Cork Leather, and Others), By Application (Footwear, Furniture, Accessories, Apparels, Sports, and Others), By Sales-Channel (Online, and Offline), and Regional Forecast, 2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.
Covina, July 03, 2024 (GLOBE NEWSWIRE) -- The global bio-based leather market share, worth USD 760.9 Million in 2024, is anticipated to expand to USD 1553.9 Million by 2034, reflecting a CAGR of 8.2%.
Bio-based Leather Market Report Overview
The bio-based leather is a plant-based leather that is sourced from the plant extract/material and later it is manufactured for other commercial uses. As an alternative to conventional leather, which is usually derived from animal hides, plant-based leather is sometimes referred to as vegan leather or eco-leather. A multitude of materials, such as pineapple leaves, mushrooms, corn, apple peels, and recycled plastic, can be used to make plant-based leather. The market for plant-based leather has surged recently due to consumer interest in eco-friendly and sustainable products.
The remarkable qualities of bio-based leather include its sustainability, resilience, and low weight. Given that it doesn't negatively impact the environment, it is a sustainable substitute for leather generated from animals. However, the biggest drawback of vegan leather is that it occasionally uses polymers, which are permanently fixed and absolutely non-biodegradable. Some people would even go so far as to say that fake leather has worse consequences than genuine leather.
Growing consumer desire for environmentally friendly products, knowledge of the negative environmental consequences of traditional leather, and developments in material science have all contributed to the growth of the bio-based leather business. Customers are looking for sustainable solutions, and the fashion sector is no different. Nevertheless, it will be difficult for bio-based leather to function and last as well as conventional leather. It can be difficult to replicate the durability, suppleness, and breathability of real leather with materials derived from plants. Compared to conventional leather, bio-based leather could be more prone to splits, scratches, and moisture absorption. To minimize their negative effects on the environment and produce high-quality, useful plant-based leather, manufacturers are continuously innovating new materials and production methods.
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Our Free Sample Report includes:
Overview & introduction of market study
Revenue and CAGR of the market
Drivers & Restrains factors of the market
Major key players in the market
Regional analysis of the market with a detailed graph
Detailed segmentation in tabular form of market
Recent developments/news of the market
Opportunities & Challenges of the Market
Competitive Landscape:
The Bio-based Leather Market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
DuPont Tate & Lyle Bio Products
Ecovative Design
Flokser A.S.
Toray Industries Inc.
Natural Fiber Welding Inc.
Tjeerd Veenhoven Studio
Nat-2
Ultrafabrics
Ananas Anam Ltd.
ECCO Leather
Modern Meadows
Vegea
MycoWorks
Bolt Threads Inc.
Fruitleather Rotterdam
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Analyst View:
Bio-based leather will provide low weight, strength, and sustainability as a viable alternative to conventional leather. Its disadvantages are non-biodegradable polymers. The business in bio-based leather has grown due to the rise in demand from consumers for green products, awareness about the environmental impact of products, and growth in material science. Also, bio-fabricated and engineered leathers are powered by sustainable feedstock such as apples, mushrooms, and pineapple leaves in recycling leather wastes to enhance quality and durability. Biocomposites and nanomaterials have also witnessed technological changes that enhance mechanical qualities and durability. Online and offline platforms are employed in the selling of bio-based leather.
Bio-based Leather Market: Report Scope
Report Attributes | Details |
Market value in 2024 | USD 760.9 Million |
Market value in 2034 | USD 1553.9 Million |
CAGR | 8.2% from 2024 – 2034 |
Base year | 2023 |
Historical data | 2019-2022 |
Forecast period | 2024-2034 |
Market Dynamics:
Drivers:
Eco-friendly alternative
Bio-based leather is a sustainable and ethical alternative to traditional leather obtained from animal derivatives, derived from renewable plant-based sources like pineapple leaves, apples, and mushrooms. Thus, less demand for new resources leads to fewer environmental impacts compared with traditional leather production methods. Very often, bio-based leathers make use of agricultural by-products/wastes and eventually contribute to the so-called 'circular economy'. The manufacturing processes generally are less harmful to the environment in terms of using less water, energy, and less toxic chemicals compared to traditional leather tanning. In most cases, these bio-based leathers can be biodegradable and compostable at the end of their life, hence reducing waste. Some examples of the alternatives of leather bio-based are Piñatex, AppleSkin, and Mirum. All in all, alternative leather made from bio-based materials offers cleaner, circular, and more ethical creation in comparison with traditional leather throughout its lifetime.
Growing demand due to awareness
The environmental and ethical debates surrounding conventional animal leather are going to shift demand towards bio-based alternative leathers. These new bio-based leathers have cleaner, more environmental sources—most of the time, even from agricultural wastes. With changing times, scientists are coming up with bio-based leathers similar to traditional ones like Piñatex, AppleSkin, and Mylo. These outcome-based marketing techniques help the companies manufacturing bio-based leaders to communicate their environmental and ethical advantages to a growing consumer segment. Fashion brands from the luxury end have begun integrating bio-based leather alternatives into their product ranges.
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Market Trends:
Technological developments in bio-based leather
Biotechnology helps to concentrate much on generating bio-fabricated and engineered leathers from this market of bio-based leather, increasing the amount of plant-based sources with enhanced quality, and durability, and recycling leather waste. New methods of processing are being invented to extract fibers from renewable sources, such as pineapple leaves, mushrooms, apple peels, and agricultural wastes that look upon sourcing raw materials in an eco-friendly way. Improvements in mechanical properties, appearance, and durability are further enhanced by technological advances in biocomposites and nanomaterials. Additives and surface treatments drive performance improvement in bio-based leather. New technologies are being developed for recycling post-consumer leather waste into bio-based alternatives, such as reProLeather. On the other hand, lab-grown leather is going to be more ethically and environmentally approvingly produced than conventional leather manufacturing methods.
Segmentation:
Bio-based Leather Market is segmented based on Source, Application, Sales-Channel, and Region.
Source Insights
The segment explains the raw material sources from leather manufactured. Because of its versatility, the market for mushroom leather, which emphasizes sustainability and adaptation, is growing. Mycelium, the fundamental structure of fungi, is utilized to make a leather-like substance that may be colored and textured. Pineapple leather is a robust and breathable substitute made from the fibers found in pineapple leaves. Apple leather uses leftover apple peels to transform food waste into durable products. Made from prickly pear cactus, cactus leather is a distinctive, environmentally friendly, and low-water footprint choice. Made from the bark of the cork oak tree, cork leather is water-resistant and lightweight. The goal of research and development projects is to turn plant materials including algae, sugarcane, and grapes into plant leather.
Application Insights
The segmentation briefs about the applications of bio-based leather. The market for bio-based leather is booming as consumers seek more environmentally friendly options for clothing, accessories, furniture, and footwear. The industry's durability, aesthetic appeal, and longevity are contributing to its growing popularity. Handbags, wallets, and belts are among the accessories that also use bio-leather. With the advancement of technology, there is likely to be a growth in the market for apparel products such as coats and denim created from plant-based leather. Because of its performance qualities, sportswear is likewise becoming more and more popular. Phone covers and watch straps can also be made from bio-based leather. More creative applications for this sustainable material are anticipated as the industry expands.
Sales-Channel Insights
The sales are classified into online and offline. Online sales of bio-based leather products take place through e-commerce websites, brand-owned online shops, and other digital marketplaces, propelled by the prospects of incarcerating a larger customer base that comes with increasing acceptance of online buying. Being an advantage in the sales channel, offline sales include department stores and specialty shops that allow customers to feel and touch high-end or opulent plant-based leather goods.
Recent Development:
In January 2024, IDTechEx Discussed the Next Generation Materials Aiming to Displace Animal and Plastic Leather. According to the UN, animal cultivation is a major contributor to greenhouse gas emissions, with estimates ranging between 10-20% of total emissions. Increasingly, consumers are demanding sustainable materials that are animal-free. This is driven by heightened awareness of the environmental impact of animal leather and vegan movements rejecting the utilization of animals entirely.
In November 2022, FORVIA launched MATERI’ACT to develop and produce sustainable materials. The 7th world’s leading automotive technology company, announced the creation of MATERI’ACT, a new brand to massively develop and manufacture cutting-edge sustainable materials.
Regional Insights
North America: North America has a substantial share because of its developed market and emphasis on environmental issues. The luxury market is expanding as a result of early adoption by high-end businesses and growing customer awareness. There might be problems, though, considering the high cost of production and restricted availability in comparison to ordinary leather.
Asia Pacific: Asia Pacific is the fastest-growing market due to the region's expanding middle class, growing population, and increased interest in sustainable growth. In many nations, laws and general ignorance may make plant-based products unprofitable.
Browse Detail Report on "Bio-based Leather Market Size, Share, By Source (Mushroom Leather, Pineapple Leather, Apple Leather, Cactus Leather, Cork Leather, and Others), By Application (Footwear, Furniture, Accessories, Apparels, Sports, and Others), By Sales-Channel (Online, and Offline), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/bio-based-leather-market-5378
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