PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252676
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1252676
Plant Based Leather Market size was valued at USD 120.8 Million in 2022, expanding at a CAGR of 11.1% from 2023 to 2030.
Plant-based leather, commonly referred to as vegan leather, is a type of material that mimics the appearance and feel of traditional leather, but is made from plant-based sources rather than animal hides and skins. This sustainable and eco-friendly alternative to conventional leather is gaining popularity, as it requires fewer resources and has a significantly lower environmental impact. Unlike traditional leather, which is made by treating animal hides with toxic chemicals to preserve and soften them, plant-based leather is produced using a variety of materials such as mushrooms, pineapple leaves, and even recycled plastic bottles.
Plant-based leather is gaining traction as a sustainable and ethical alternative to traditional leather. Leather production involves numerous chemicals that pose a threat to both human health and the environment, making plant-based leather a more appealing option. According to the European Commission, around 70% of shoe uppers in Europe are made of leather, with approximately 1 billion pairs of shoes produced annually. As more consumers become aware of the negative impact of leather production, the demand for plant-based leather is rapidly increasing.
In recent years, environmental issues such as climate change, global warming, and the depletion of natural resources have influenced young people, leading to significant changes in attitudes and behaviors. One such change is the growing trend towards vegetarianism and the demand for plant-based products that are sustainable, vegan, biodegradable, ethical, and environmentally friendly. As young people become more aware of the environmental impact of their choices, they are increasingly seeking out sustainable and ethical alternatives to traditional products. This demand is driving manufacturers to use plant-based materials, including plant-based leather, instead of traditional animal leather. The market for environmentally friendly products is expanding, and young people are at the forefront of this trend.
The Global Plant Based Leather Market is segmented on the basis of Product Type, End Use and Region.
Based on product type, the plant-based leather market can be segmented into Solid Synthetic Leather, Coated Fabric and Ultra-microfiber Leather. Ultra-microfiber leather is expected to experience significant growth in the plant-based leather market. Ultra-microfiber leather is a high-quality and innovative material that offers many benefits, such as durability, water-resistance, and flexibility, while also being eco-friendly and sustainable. Additionally, ultra-microfiber leather is suitable for a wide range of applications, including fashion, automotive, and interior design, which makes it a versatile material with many potential uses.
Based on end-use industry, the plant-based leather market can be segmented into Fashion Industry and Automotive Industry. The fashion industry is the leading market for plant-based leather, with a rapidly growing demand for sustainable and eco-friendly fashion. Consumer awareness of environmental issues has driven this demand, and many fashion brands are incorporating plant-based leather into their collections. Some brands have even completely switched from animal-based leather to plant-based leather.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Europe is the global leader in the plant-based leather market, with a significant role in international leather trade. The European leather industry comprises approximately 36,000 enterprises, generating a turnover of over 51 billion USD. Europe's tanning industry is the world's largest supplier of leather in the international marketplace. Most of the leather businesses in Europe are family-owned, small, and medium-sized enterprises, concentrated regionally, making Europe the most prominent player in the global leather market. With the advancements in technology and research and development, the leather businesses in European countries have been able to innovate and fabricate leather from rubber and other synthetic materials. Today, these innovations have helped the European market introduce plant-based leather made from plant residues to the world.
The plant-based leather market in Asia Pacific is growing rapidly, driven by the well-established leather industries in countries such as India and Bangladesh, as well as the abundance of raw materials in the region. With plant-based leather being produced by recycling agricultural waste, Asia Pacific, which produces tons of agro-waste annually, has a significant opportunity for the industry to grow rapidly.
As the demand for sustainable products continues to grow, companies operating in the plant-based leather market are developing new products and exploring the use of new materials to cater to this demand. Established players in the market are partnering with several biotech companies to leverage advanced technologies to strengthen their market position. The plant-based leather market is a highly competitive one, and companies are constantly innovating to stay ahead.
For instance, In September 2022, Allbirds, a sustainable sneaker company based in California, unveiled its latest product, the "Plant Pacer" sneakers. The shoes are made entirely of plant leather that is free from plastic, making them environmentally friendly. Allbirds partnered with Natural Fiber Welding Inc., a materials innovation company, to develop the plant-based leather. The footwear is made from natural ingredients, including rubber, vegetable oils, and agricultural by-products such as rice husk and citrus peel.
This proposed research study on Plant Based Leather Market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Plant Based Leather Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Plant Based Leather Market
Impact of COVID-19 on Plant Based Leather Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Plant Based Leather Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Plant Based Leather Market, we have also included competitive landscape and key innovator analysis for the Plant Based Leather Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the Plant Based Leather Market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Plant Based Leather Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
Adriano Di Marti (Desserto) (Mexico)
Veja (France)
Natural Fiber Welding, Inc (USA)
Veerah (USA)
Viridis (Italy)
Will's Vegan (UK)
Miomojo srl (Italy)
Mabel (Italy)
Ananas Anam (Pinatex) (UK)
Clarino (Philippines)
Studio Tjeerd Veenhoven (Netherlands)
Volkswagen (Germany)
Modern Meadow (USA)
Malai Studio (Poland)
GLOBA LPLANT BASED LEATHER MARKET, BY PRODUCT TYPE
Solid Synthetic Leather
Coated Fabric
Ultra-microfiber Leather
GLOBAL PLANT BASED LEATHER MARKET, BY END USE
Fashion Industry
Automotive Industry
GLOBAL PLANT BASED LEATHER MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA