GLOBAL BIO-BASED LEATHER MARKET SIZE  (2023 – 2030)

Global Bio-based Leather Market is estimated to be worth USD 686.47 Million in 2023 and is projected to reach a value of USD 1102.41 Million by 2030, growing at a CAGR of 6.1% during the forecast period 2023-2030.

Bio-based leather, often known as vegan leather or synthetic leather, is a material created using natural and renewable resources like plant-based ingredients or recycled plastic. It is seen as a practical and ethical alternative to traditional leather, which is made from animal hides. Bio-based leather is getting more and more popular in the fashion and automobile industries due to its environmental benefits. Shoes, bags, wallets, furniture, and car interiors are just a few items that employ it. Due to arising consumer awareness of the environmental effects of conventional leather production and their growing concern, the global market for bio-based leather is expanding quickly.

A potential and developing market for leather made from biomaterials is beginning to emerge. As consumer demand for sustainable and ecologically friendly products increases, it is predicted that the market for leather produced from bio-based resources would expand even further in the future years. The development of unique and creative bio-based materials and production techniques is projected to support the market's future growth even though there are still some challenges to overcome.

Global Bio-based Leather Market Drivers:

Growing Consumer Demand for Sustainable and Eco-Friendly Products is fuelling market expansion.

As consumers become more conscious of the damaging environmental effects of conventional leather production, there is an increasing demand for green and sustainable products, which is driving the growth of the bio-based leather market worldwide. Growing in popularity is bio-based leather, which is produced using renewable resources and has fewer negative environmental effects. Bio-based leather might be easier to create than conventional leather in terms of energy, water, and hazardous chemicals. Manufacturers are creating inventive and distinctive bio-based leather products to satisfy consumers growing demand to pay more for sustainable goods.

Advancements in Technology and Raw Material Availability is boosting market size for the bio-based leather market.

The worldwide bio-based leather market is primarily driven by improvements in technology and the availability of raw materials. A variety of renewable resources, including pineapple leaves, apple peels, mushroom mycelium, and algae, have been used in the production of bio-based leather due to biotechnology and materials science. The development of bio-based leather with qualities similar to those of conventional leather, such as durability and texture, has also been made possible by technological advancements. As a result, issues with durability and quality are being resolved, and more people are using leather made from bio-based materials. As more businesses invest in creating sustainable and renewable resources for the manufacture of bio-based leather, the range of raw materials is also growing. Costs are falling as a result, raising the level of competition between conventional leather and leather made from biomaterials.

Global Bio-based Leather Market Challenges:

The absence of a uniform regulatory framework for items made from biomaterials is a key obstacle to the global market for bio-based leather. Because bio-based leather currently lacks a standard definition or certification, the market may become disorganised and inconsistent. Consumers may find it challenging to comprehend the sustainability and environmental impact of items made of bio-based leather due to the lack of industry standards, and manufacturers may find it challenging to differentiate their goods and win over customers. A uniform regulatory framework that establishes precise certification requirements and specifies what constitutes bio-based leather is required to address this issue. A framework like this would increase customer trust in the market and stimulate the use of bio-based leather as a sustainable replacement for conventional leather.

Global Bio-based Leather Market Opportunities:

The growing tendency towards circular economy principles represents a significant market opportunity for bio-based leather globally. Because it can be recycled and used again, bio-based leather is a useful resource in a circular economy model. The demand for sustainable and environmentally friendly materials like leather made from biological sources is projected to rise as more businesses and sectors implement circular economy practises. Manufacturers now have a chance to create cutting-edge goods and services that satisfy the requirements of the circular economy and take care of the rising demand for sustainable materials. 

COVID-19 Impact on Global Bio-based Leather Market:

The global market for bio-based leather has been impacted by COVID-19 in both positive and negative ways. Positively, the pandemic has raised awareness of the demand for environmentally friendly and sustainable products. This has increased demand for leather products made from bio-based materials as people become more aware of how their purchases affect the environment. The pandemic has, however, also had detrimental effects on the market, particularly in terms of supply chain disruptions and a decline in demand for luxury items. Many producers of bio-based leather products have seen a decline in sales as a result of retail store closures and lower customer expenditure. Additionally, delays in manufacturing and higher raw material costs as a result of interruptions in global supply chains have hurt some companies' profitability.

Global Bio-based Leather Market Recent Developments:

• In August 2021, Dole Philippines partnered with Ananas Anam to meet the arising demand for Pinatex. The collaboration will allow Ananas Anam to access a larger volume of pineapple fibers. Dole's collection and extraction of fiber from pineapple leaves contributes to their #zerowaste goal. The partnership is a step towards sustainable material alternatives as global lifestyle brands look for eco-friendly options.

• In January 2020, Alva Sweden AB, a producer of cushions for auto airbag systems, has been fully acquired by Toray Industries. Toray's business sector in fibre and textiles will grow as a result of the acquisition.

GLOBAL BIO-BASED LEATHER  MARKET REPORT COVERAGE:

Global Bio-based Leather Market Segmentation:

Global Bio-based Leather Market Segmentation: By Source

• Mushroom

• Pineapple

• Cork

• Leftover Fruits (Apples & Grapes)

• Others

Mushroom-based bio-based leather is predicted to have the largest market share due to its durability, texture, and ability to be produced in a variety of colours. While bio-based leather made from cork is well known for its unusual texture and water resistance, bio-based leather made from pineapple is also becoming more and more well-liked because of its softness and flexibility. High-quality bio-based leather is produced from apple and grape waste, continuing a growing trend in which discarded fruits are used as a source for bio-based leather. Additional sources of bio-based leather include kombucha and algae. In the forecasted years, the market for bio-based leather is anticipated to expand rapidly due to rising customer demand for eco-friendly and durable goods.

Global Bio-based Leather Market Segmentation: By End User

• Footwear

• Garments and Accessories

• Furniture

• Automotive

• Others

The bio-based leather market can be broken down into sections for shoes, apparel, furniture, vehicles, and other end users. Footwear is predicted to be the largest end-user segment due to the growing demand for ecologically friendly and sustainable materials in the footwear sector. Clothing and accessories are other important markets for bio-based leather because of the growing consumer demand for ethical and environmentally sustainable fashion. Furniture is another significant sector, where bio-based leather is used for upholstery and other purposes. The market for bio-based leather in this industry is growing as a result of automakers’ desire to reduce the environmental impact of their goods. Additional applications for leather made from renewable resources include packaging and consumer goods. As more businesses switch to eco-friendly and sustainable materials in the forecasted years, the market for bio-based leather is anticipated to expand.

Global Bio-based Leather Market Segmentation: By Distribution Channel

• Online

• Offline

By distribution channel, the market for bio-based leather can be divided into online and offline markets. Brick-and-mortar shops, specialised shops, and department stores are all included in the offline section. E-commerce platforms, business websites, and other online retailers are all included in the online category. Since consumers still prefer to buy things in actual stores where they can touch and feel the products before making a purchase, the offline category is anticipated to have the biggest market share. However, the online market is expanding quickly because of how convenient it is to shop online and because more and more products made of bio-based leather are becoming available online. Due to lockdowns and other social isolation measures brought on by the COVID-19 pandemic, the internet market has also seen an acceleration in growth. Manufacturers and merchants are likely to spend in both offline and online channels in order to reach a larger audience as the market for bio-based leather is predicted to develop.

Global Bio-based Leather Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Rest of the World

The bio-based leather market may be segmented into four geographic areas: North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to account for the greatest market share because of the region's strong emphasis on environmental sustainability and friendliness. The region has implemented a variety of laws and regulations to promote the use of renewable resources, which has raised the demand for products produced from bio-based leather. There is also a substantial market for bio-based leather in North America where there is an increasing demand for ethically and environmentally responsible products. Due to the region's fast-growing demand for environmentally friendly products in countries like China, the Asia Pacific market is anticipated to grow at the fastest rate. Latin America, the Middle East, and Africa are included in the Rest of the World category, which is anticipated to develop significantly as a result of arising consumer demand for environmentally friendly and sustainable goods. It is anticipated that the market for bio-based leather will expand across all geographies as more sectors adopt sustainable materials and consumers become more aware of what they are buying. 

Global Bio-based Leather Market Key Players:

1. Toray Industries Inc. (Japan)

2. Bolt Threads Inc. (US)

3. Ananas Anam Ltd. (UK)

4. Modern Meadows (US)

5. Nat-2 (Germany)

6. Natural Fiber Welding Inc. (US)

7. Ultrafabrics (US)

8. MycoWorks(US)

9. ECCO Leather (Netherlands)

10. VEGEA(Italy)

11. Fruitleather Rotterdam (Netherlands)

12. Tjeerd Veenhoven studio (Netherlands)