In terms of value, the bio-based leather market is estimated to grow from USD 107 million in 2023 to USD 216 million by 2028, at a CAGR of 15.0%. The market research report is a comprehensive analysis of the bio-based leather market trends, future prospects, and other pivotal factors that drive the market. Rising demand for eco-friendly and sustainable leather materials from industries such as footwear, garments & accessories, furniture, and automotive for a variety of applications is leading the market. In addition, most of the key industry players are investing in heavy research and development for more durable materials. During the forecast period, this is anticipated to expand the bio-based leather market even more. In contrast, the market growth is being constrained by expensive product costs & R&D expenses and the durability of bio-based leather.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=206086810
“Mushroom was the largest source for bio-based leather market in 2022 in terms of value.”
The bio-based leather market is experiencing significant growth driven by several key factors. Mushrooms, specifically mycelium, have attracted attention as a prospective source in the bio-based leather market for various reasons. Mycelium leather can be manufactured to have specific features such as texture, thickness, and durability, making it versatile and appropriate for a wide range of applications such as fashion, accessories, and furniture. Biotechnology and material science advancements have improved the manufacturing method and quality of mushroom-based leather, making it a more viable choice for the fashion and textile industries.
“Garments & accessories segment is estimated to be the largest end-use industry in bio-based leather market between 2023 and 2028 in terms of value.”
The bio-based leather market has been gradually expanding, with increased investment and research in producing better materials and manufacturing methods. Clothing and accessories, such as shoes, handbags, belts, and wallets, are high-fashion consumer items. People seek apparel and accessories that are not only functional but also fashionable and trendy. Bio-based leather is a sustainable and ethical solution that meets the growing demand for cruelty-free and eco-friendly design. The texture, appearance, and feel of bio-based leather can be created to closely resemble that of animal leather. This makes it a popular alternative for fashion designers and brands looking to build items that meet consumers’ quality and aesthetic requirements.
“Europe was the largest region for the bio-basd leather market in 2022, in terms of value.”
The expansion of the bio-based leather market in the Europe region is primarily due to strict regulations regarding animal leather and the product sustainability. The Europe area has a sizable consumer market, making it an appealing destination for bio-based leather manufacturers and investors. On the other hand, Asia Pacific is estimated to be the fastest growing region in this market. Many Asia Pacific countries, particularly China and India, have expressed a desire to promote green and sustainable industries. Notably, most of this growth in the Asia Pacific region is anticipated to be concentrated in key countries such as India, China, South Korea, Japan, and various Southeast Asian nations.
Get a Sample Copy of This Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=206086810
Bio-Based Leather Companies
The key players in this market are Natural Fiber Welding, Inc. (US), Ananas Anam Ltd. (UK), MycoWorks Inc. (US), Bolt Threads Inc. (US), Modern Meadows (US), Adriano di Marti (Mexico), Ultrafabrics Holdings Co., Ltd. (US), Beyond Leather Materials (Denmark), Fruitleather Rotterdam (Netherlands), and VEGEA (Italy). These companies are known for developing a wide variety of bio-based leather used in various end-use industries. To address the rising demand for bio-based leather across a range of applications, players in the bio-based leather market are primarily focusing on their research and development. Companies may improve their source range and better quality of leather to promote bio-based leather.
The new product launches between 2019 and 2023 have had a substantial influence on the expansion of the bio-based leather market. Different businesses have used various approaches to strengthen their positions in the bio-based leather market. For instance, Natural Fiber Welding, Inc., MycoWorks Inc., Bolt Threads Inc., Modern Meadows, Adriano di Marti, and Ultrafabrics Holdings Co., Ltd. primarily focus on the North American and South American regions, whereas Ananas Anam Ltd., Beyond Leather Materials, Fruitleather Rotterdam, and VEGEA has a major concentration on the European region. In essence, these businesses have solidified their presence in their home regions and are looking for ways to diversify geographically to grow their company operations. Additionally, during the past few years, all these companies have been committed to strengthening their product portfolios and market presence through strategic alliances.
Natural Fiber Welding, Inc. is a precursor in the field of biotechnology in the US. Natural Fiber Welding, Inc. has emerged as a pioneer in the development of sustainable materials. The core focus of the company is the research and commercialization of new, plant-based materials that are environmentally friendly, adaptable and have the potential to replace traditional materials in a variety of industries. Natural Fiber Welding, Inc.’s innovative method, “Mirum,” transforms natural fibers and agricultural leftovers into strong, durable, and customizable materials. For instance, in June 2023, the company announced a partnership with Ahima that will make it easier to develop footwear made with MIRUM. This partnership will help the company to cover a wide range of markets. Moreover, in February 2023, the company announced the partnership with Lenzing AG to offer TENCEL branded fibers as another backer option for Natural Fiber Welding, Inc. patented plant-based technology, MIRUM. The partnership will help the company to develop infinite possibilities for application from the new material.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=206086810
Ananas Anam Ltd. is a pioneering sustainable materials company known for its innovative creation, Pinatex. The company has revolutionized the fashion and textile industries with its plant-based, non-woven textile material made from pineapple leaf fibers. Pinatex is derived from the byproduct of pineapple cultivation, reducing agricultural waste. Ananas Anam Ltd. has garnered global recognition for its commitment to sustainability and ethical practices. The company collaborates with renowned brands and designers to incorporate Pinatex into their products, offering a cruelty-free and sustainable alternative to traditional leather and synthetic materials. For instance, in July 2021, the company entered a partnership with Dole Sunshine Company to access a larger volume of pineapple fibers to meet the increasing demand for Pinatex.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email: Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/bio-based-leather-market-206086810.html