Bio-based/Vegan Leather Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

  • Single User License $3500

Bio-based/Vegan Leather Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : February, 2023 | Consumer Goods

Report Digest

Bio-based/Vegan Leather Market – Overview

The growth in the bio-based/vegan leather market has been growing rapidly because of a lot of factors. One of the prominent growth factors includes an increasing trend for sustainable as well as cruelty-free leather. Furthermore, a constant increase in the number of R & D activities for product development and innovations is also stimulating growth prospects in the global market in the near future.

Developed countries around the world are predicted to contribute to market growth compared to developing countries in the forthcoming years. Further, fossil fuels are consumed at a higher rate in the production of livestock. Along with this, real leather is likely to put three times more negative impact on the environment compared to other industry options. These factors are likely to impact the growth avenues in the market in the forthcoming years.

bio-based/vegan leather market

Bio-based/Vegan Leather Market – Key Drivers

The traditional methods of tanning and pre-tanning have the maximum discharged due to increasing pollution from the tannery. Further, tannery effluent generally contains a larger amount of pollutants, for instance, acid, sulfides, lime sludge, and salt. PVC and PU are the prominent raw materials that are used for the manufacturing of synthetic leather that is estimated to put certain harmful effects on animal and human health as well as on the nearby environment. PU is isocyanate that can harm the lungs and causes lung irritation and asthma attacks. It further irritates the skin and can also cause difficulty in breathing because of lung infections. On the other hand, PVC contains numerous harmful carcinogens, for example, dioxin, phthalates, and vinyl chloride monomer (VCM). Dioxin is highly harmful and toxic and it is released during the burning of plastic that has chlorine. So, these factors are estimated to put certain negative effects on the health of human beings and further fuel demand for human and environmentally friendly products. Thus, owing to these factors, the bio-based/vegan leather market has been predicted to expand at a noticeable speed in the near future.

Bio-based/Vegan Leather Market – Recent Developments and Key Players

The bio-based/vegan leather market has been marked due to the presence of prominent players that are serving in regional as well as global areas. Their presence in the market is making the industry nature fragmented. Furthermore, these players are also taking into consideration certain novel growth strategies in order to achieve their pre-defined goals. Along with these factors, the rising penetration of the international market players and increasing awareness among consumers related to the industry brands are also driving new growth opportunities in the market. Novel product launches, mergers or tie-ups, product portfolio expansion, and the rising count of the R & D activities in enhancing the company portfolio are some strategies that are also adopted by these key market players to generate lucrative opportunities in the coming years.

For instance, Ananas Anam Ltd. has established a partnership with Dole from the Philippines in July 2021. The motive of this partnership is to access a larger volume of fibers in order to meet the rising demand for Pinatex.

Some of the key players in the bio-based/vegan leather market are:

  • Toray Industries Inc.
  • Bolt Threads Inc.
  • Tjeerd Veenhoven studio
  • Ananas Anam Ltd.
  • Modern Meadows
  • ECCO Leather 
  • Nat-2
  • MycoWorks
  • Ultrafabrics
  • Natural Fiber Welding Inc.
  • Fruitleather Rotterdam

Bio-based/Vegan Leather Market – Regional Assessment

The bio-based/vegan leather market has been serving in various regions APAC, North America, the Middle East & Africa, Europe, and South America across the world. APAC among these regional areas has been projected to grow at the fastest speed in the foreseeable years. The growth avenues in the regional market are attributed to the high economic growth among emerging countries. Rising disposable income and increased industrial production are also contributing to regional growth. Furthermore, government regulations are implemented for the emission of carbon that is also fueling expansion avenues in the global market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?