CHICAGO, Sept. 21, 2023 /PRNewswire/ -- The report "Bio-based Leather Market by Source (Mushroom, Pineapple, Apple, Cactus, Tree Bark, Leftover Fruits), End-Use Industry (Footwear, Garments & Accessories), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2028", size was USD 107 million in 2023 to USD 216 million by 2028, at a CAGR of 15.0% from 2023 to 2028.
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Bio-based leather is an appealing alternative to traditional leather due to its distinct properties, compelling societal needs, and numerous benefits. At first glance, bio-based leather is environmentally friendly and sustainable since the material is obtained from renewable sources such as mushroom, pineapple, apple, cactus, tree bark, leftover fruits, and others considerably lowering the environmental impact of leather production. Since it does not entail animal exploitation, it also answers the growing need for cruelty-free alternatives. Bio-based leather has the capacity to emulate the look and feel of traditional leather while also offering unique textures and colors. This dominance can be attributed to the escalating demand for eco-friendly and sustainable leather within the footwear, garments & accessories, automotive industries, serving a multitude of applications.
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.
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Europe was the largest region for the bio-based 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.
Market Players :
The key market players in bio-based leather 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).
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