PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1351328
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1351328
The bio-based leather market is poised for significant growth, with a projected value of USD 216 million by 2028, exhibiting a robust CAGR of 15.0% from its 2023 value of USD 107 million. This growth is primarily attributed to the harmful effects of leather on humans promoting the use of bio-based leather, the rising trend of sustainable and cruelty-free leather, and government regulations promoting the use of bio-based materials. This trend is expected to propel the bio-based leather market even further in the forecast period. However, it's important to note that the high product costs associated with research and development pose a challenge to market growth.
"Mushroom was the largest source of the bio-based leather market in 2022, in terms of value."
Mushrooms are considered a significant source of bio-based leather in the market due to several reasons. Firstly, mushrooms contain a fibrous material called mycelium, which is a sustainable alternative to traditional leather because it is biodegradable, requires fewer resources to produce, and does not involve animal cruelty. Furthermore, the cultivation of mushrooms for leather production has a lower environmental impact compared to raising livestock for traditional leather. Overall, the unique properties of mycelium leather, its sustainability, and the increasing consumer preference for ethical and eco-friendly products contribute to mushrooms being a significant source of bio-based leather in the market.
"Garments & accessories is projected to be the largest end-use industry of bio-based leather market during the forecasted period."
The garments and accessories industry is the largest end-use industry in the bio-based leather market due to the demand for sustainable, ethical, and fashionable products that align with consumer preferences and industry trends. The versatility of bio-based leather makes it suitable for a wide range of garments and accessories. It can be used to create various textures, colors, and finishes, allowing designers to incorporate it into their collections in innovative and creative ways. This versatility, combined with the sustainable and ethical aspects, makes bio-based leather a popular choice for the garments and accessories industry.
"Europe is estimated to be the largest bio-based leather market between 2023 and 2028, in terms of value."
Europe stands as the foremost market for bio-based leather, driven by stringent safety regulations prevalent in key industries such as design, fashion, and automotive. This regulatory environment has ignited a substantial demand for premium and sustainable clothing, thereby propelling the bio-based leather market across the continent. Moreover, Europe's focus on sustainability, consumer demand for eco-friendly products, a well-established fashion industry, a strong research and development ecosystem, and government support have collectively made it the largest region in the bio-based leather market.
The key market players illustrated in the report include 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).
Research Coverage
This report segments the market for bio-based leather on the basis of source, end-use industry, and region and provides estimations for the overall volume (Thousand Sq. Meters) and value (USD Thousand) 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, expansions, and mergers & acquisitions 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 of the competitive landscape, emerging and high-growth segments of the bio-based leather market; high-growth regions; and market drivers, restraints, opportunities, and challenges.