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The plant-based leather market is projected to reach USD 97 million by 2027 growing at a CAGR of 7.5% from 2022 to 2027. Soaring concerns around animal welfare and the increased carbon footprint generated by animal leather industries leading to global warming have altered customer behavior. There is presently a surging demand for ethical, eco-friendly, and cruelty-free products, which has led industry stakeholders to substitute animal leather with a plant-based alternative, causing the expansion of the plant-based leather market.
“Plant-based leather has a high demand in the fashion industry”
The plant-based leather market has been segmented based on application into fashion (clothing, accessories, and footwear) and other applications (automotive interior and home and interior décor). The fashion sector accounted for the largest market share in 2021. International brands such as Tommy Hilfiger, Stella McCartney, and Gucci are incorporating plant-based leather in their collections and are anticipated to shift from conventional leather to plant-based leather gradually.
“Asia Pacific is projected to witness substantial growth during the forecast period in the plant-based leather market”
The well-established leather industries in India and Bangladesh and abundant raw materials are propelling the growth of the plant-based leather market in Asia Pacific. Given that plant-based leather is produced by recycling agricultural waste, Asia Pacific having produced tons of agro-waste yearly, has a significant opportunity for the industry to grow rapidly. The Philippines, a country in South-East Asia, is one of the largest pineapple producers, offering great potential for the pineapple leather market to expand in this area. The Asia Pacific plant-based leather market is competitive in nature, with many domestic and multinational players competing for market share.
Break-up of Primaries:
- By Company Type: Tier 1 –55%, Tier 2-35%, Tier 3 – 10%
- By Designation: C level – 40%, Managers – 30%, Executives – 30%
- By Region: North America –30%, Europe – 30%, Asia Pacific – 25%, RoW –15%
Leading players profiled in this report:
- Ananas Anam (UK)
- DESSERTO (Mexico)
- NUPELLE (Taiwan)
- Natural Fiber Welding, Inc. (US)
- PEEL Lab (Japan)
- Malai Eco (India)
- Nova Milan (UK)
- PANGAIA GRADO ZERO SRL (Italy)
- bioleather (India)
- MABEL SRL (Italy)
- Beyond Leather Materials (Denmark)
- Fruitleather Rotterdam (Netherlands)
- Ecovative LLC. (US)
- MycoWorks (US)
- BZ LEATHER (China)
Research Coverage:
The report segments the plant-based leather market based on product type, application, and region. In terms of insights, this report has focused on various levels of analyses-the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging and high-growth segments of the global plant-based leather market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
- To get a comprehensive overview of the plant-based leather market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the plant-based leather market is flourishing