Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the bio-based leather market provides an in-depth analysis
of segments and sub-segments in the global as well as the regional bio-based
leather market. The study also highlights the impact of drivers, restraints,
and macro indicators on the global and regional bio-based leather market over
the short term as well as long term. The report is a comprehensive presentation
of trends, forecast and dollar values of the global bio-based leather market.
According to the report, the global bio-based leather market is projected to
reach up to USD 3500 million by 2027 from USD 236 million in 2020, growing at a
CAGR of 47.50% over the forecast period of 2021-2027.
The leather industry has evolved
greatly over the past few years due to advancements in technology. Leather
products are being used for ages and are widely recognized. It is a very old
manufacturing sector producing a broad range of goods such as leather footwear,
leather bags, leather garments. Bio-based is a new and emerging subset within
the vegan leather category. Growing consumer awareness regarding the ill
effects of leather, consumers are switching to bio-based leather. Particularly
since the last 5 years, it has gathered significant attention from consumers.
The growing environmentally-conscious millennial population is driving the
worldwide market for bio-based leather and bio-based leather is expected to
grow into a big business. Driven by vegan and sustainable demands, apples,
pineapples, grapes, mushrooms, and even mangoes, are being turned into forms of
synthetic leather. The sneaker and sports shoe industry has been one of the
biggest endorses of new plant leathers. Plant leathers, like most environmentally
friendly products. The market players in the Biobased leather industry are
offering a wide variety of leather products including Furnishing, Automotive,
Footwear, Bags & Wallets, Clothing, and many others.
Bio-based leather has pretty
extraordinary potential to contribute to a climate-friendly, cruelty-free
sustainable fashion industry. The demand for Bio-based leather products is
steadily growing among consumers with their identical properties. There is a
growing market for Bio-based leather alternatives, and companies are choosing a
wide range of products made from bananas and coconut, pineapple, mushrooms,
apples, or teak leaves. Some vegetable leathers are durable as compared to
animal leather while being attractive and surprisingly leather-like in feel and
appearance. Bio-based leather has excellent properties as they are durable,
waterproof, lightweight, and incredibly sustainable. Bio-based leather is being
used as an alternative to Animal-derived leather as they don’t cause much harm
to the environment. This leather is preferred by the fashion industry, leather
goods, furniture, and automotive industries. Nevertheless, the development of
innovative Biobased leather products is expected to provide growth
opportunities to the Biobased leather market in the upcoming future
Among the regions, North America
accounted for the largest share in the global Bio-Based leather market. The
significant growth in industrial production increased trade, and the rise in
fashion and accessories are primarily responsible for the high consumption of
bio-based leather in the region. The bio-based leather market in North America
is highly driven by the footwear and garment industries. Furthermore, the
European region is expected to grow at the fastest rate in the Bio-Based
Leather market over the forecast period. The demand for footwear from the
fashion industries and sports industries is driving the bio-based leather
market in Europe. Bio-based leather shoes are renewable and provide comparable
or even enhanced performance. In addition, fashion brands are preferring
bio-leather over conventional leather to reduce carbon footprints.
The report on global bio-based
leather market covers segments such as by source, and by end-user. On the basis
of by source, the sub-markets include pineapple, cork, mushroom, leftover
fruits, and others. On the basis of by end-user, the sub-markets include
Automotive, Footwear, Garment, and Accessories.
The report provides profiles of
the companies in the market such as Ananas Anam Ltd, Desserto, VEJA, VEERAH,
Modern Meadow, Bolt Threads Inc., Toray Industries Inc., Fruit leather
Rotterdam, MycoWorks, and Ecovative Design.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the bio-based leather market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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