Factors such rising trend for sustainable and cruelty free leather will drive the bio-based leather market. Price sensitivity in the emerging regions is a major restraint. However, continuous R&D in bio-based leather market will act as an opportunity for the market.
New York, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bio-based Leather Market by Source, End-use And Region - Global Forecast to 2026" - https://www.reportlinker.com/p06175240/?utm_source=GNW
Pineapple is estimated to be the largest source of bio-based leather market in 2020
Pineapple based leather is estimated to dominate the overall bio-based leather market, in terms of value, in 2020.Pineapple is a perennial and abundantly grown fruit across the globe.
It generates a lot of wastes which includes leaves, stem, pulps and skin.Pinatex is made by the waste from the pineapple harvesting process.
The textile has leather-like qualities, but is slightly rougher, giving it a weathered vintage appeal that is well suited for watches, boots, and other accessories. Pinatex is currently preferred by various brands such as Hugo Boss, Altiir, Bourgeois Boheme, Nike and Drew Veloric.
Garment & accessories was the second largest end use industry for bio-based leather market in 2020
The bio-based leather market size for the garment & accessories industry accounted for the second-largest share of global bio-based leather, in terms of value, in 2020.The bio-based leather for the garments & accessories industry has always been driven by the economies of North America, Europe, and APAC.
Most of the countries are expected to continue using traditional leather garments & accessories than the bio-based leather garments & accessories.Garments & accessories consumption is expected to increase worldwide and, subsequently, the consumption of bio-based leather is expected to increase to meet the stringent environmental norms, especially in North America.
This dominance is majorly due to rising environmental pollution from the tanneries which uses harmful chemicals for the leather tanning process.Additionally, the traditional leathers also encourage cruelty towards the animal and promote animal poaching for skin.
Bio-based leather is a good option to reduce carbon footprints as well as cruelty towards the animals. Bio-based leather is a sustainable option for the garments & accessories application. Leathers from leftover fruits, cactus, mushrooms, pineapples are trending in the current scenario. Fashion labels such as Jill Milan, Matt & Nat, Stella McCartney, Jord, and Versace are using different plant sources for making clutches, bags, watch bands, wallets, purses, belts, jackets, and various other outfits.
North America is estimated to be the largest bio-based leather market in 2020, in terms of value.
North America was the largest market for bio-based leather in 2020.North America is a highly developed region; hence, the use of advanced bio-based leather is also high.
The use of premium quality bio-based leather in the fashion space and footwear industry is driving the bio-based leather market in the region.The mushroom-based leather is projected to grow at the highest CAGR, in terms of value, during the forecast period in this region.
Companies such as MycoWorks and Ecovative Design are manufacturing bio-based leather out of mycelium of fungus in this region.The footwear end-use industry is estimated to have the largest market in this region due the changing trends amongst millennials and rising awareness amongst public about environment pollution caused by the leather industry.
Leading brands like Stella McCartney, Will’s Vegan Shoes, Lulus and Brave GentleMan are leading brands of footwear using bio-based leather in this region. These footwears are mainly made by cork, mushroom and blends of plant sources along with polymer resins.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
• By Company Type: Tier 1 - 30%, Tier 2 - 43%, and Tier 3 - 27%
• By Designation: C-Level - 21%, Director Level - 23%, and Others - 56%
• By Region: North America - 41%, Europe - 30%, APAC - 18%, Middle East & Africa - 7%, and South America - 4%
The key market players profiled in the report include Toray Industries Inc. (Japan), Bolt Threads Inc. (US), Ananas Anam Ltd. (UK), Modern Meadows (US), Nat-2 (Germany), Natural Fiber Welding Inc. (US), Ultrafabrics (US), MycoWorks(US), ECCO Leather (Netherlands), VEGEA(Italy), Fruitleather Rotterdam (Netherlands), and Tjeerd Veenhoven studio (Netherlands).
This report segments the market for bio-based leather on the basis of coating source, end-use industry and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches and mergers & acquisition associated with the market for bio-based leather.
Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the bio-based leather market; high-growth regions; and market drivers, restraints, challenges and opportunities
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on bio-based leather offered by top players in the global bio-based leather market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the bio-based leather market
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for bio-based leather across regions
• Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global bio-based leather market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the bio-based leather market
• Impact of COVID-19 on bio-based leather market
Read the full report: https://www.reportlinker.com/p06175240/?utm_source=GNW
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