The global bio-based leather market size is expected to reach USD 1,098.72 million by 2030, according to a new study by Polaris Market Research. The report “Bio-based Leather Market Share, Size, Trends, Industry Analysis Report, By Source (Cork, Corn, Leftover Fruits, Mushroom, Palm, Pineapple, Others); By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for the market is expected to increase during the forecast period. They are increasingly being used for manufacturing apparel, footwear, and accessories. Rising urbanization, increasing disposable income of consumers, and the growing trend toward the use of sustainable products drive the growth of the industry.
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Asia-Pacific is expected to grow at a significant rate during the forecast period. The rise in demand for fashion products and accessories coupled with growing application in the automotive industry boosts the adoption of the industry in the region. Increasing applications in footwear and furnishing industries, coupled with the introduction of regulations to prevent animal cruelty, offer growth opportunities during the forecast period.
Bio-based leather is used in various end-uses such as automotive, footwear, furniture, garments & accessories, and others. The footwear segment dominated the market in 2021. However, they are also increasingly being used in the automotive sector. Several automobile manufacturers, such as Tesla, Renault, and Volvo, are introducing vehicles with bio-based leather for car interiors. Bentley partnered with for its 100th anniversary to develop an electric car with an all-plant leather interior.
The COVID-19 outbreak negatively impacted the industry. Closure of stores & malls due to the implementation of lockdown across the world hampered the sale of bio-based products. Disruption in manufacturing activities, issues related to the supply chain, and reduced workforce further contributed to reduced demand for bio-based leather during the pandemic. Several industries using bio-based leather, such as textile, footwear, and automotive, suffered a decline during the COVID outbreak, hampering the growth of the industry.
Bio-based Leather Market Report Highlights
- The pineapple segment contributed to major revenue share in 2021 owing to easy availability and greater concerns regarding agricultural waste products
- The footwear segment held the largest share in the market. Greater awareness regarding cruelty-free and sustainable products and introduction of sustainable footwear options by industry players supports the growth of this segment
- Asia-Pacific is expected to experience significant growth during the forecast period owing to economic growth in countries such as China, Japan, and India, and rising demand for fashion products and accessories.
- The global market is highly competitive owing to the existence of large industry players with global presence including Ananas Anam Ltd., Bolt Threads Inc., Modern Meadows, Natural Fiber Welding Inc., Tjeerd Toray Industries Inc., and Vegea among others
Polaris Market Research has segmented the bio-based leather market report based on source, end-use, and region:
Bio-based Leather, Source Outlook (Revenue – USD Million, 2018 – 2030)
- Leftover Fruits
Bio-based Leather, End-use Outlook (Revenue – USD Million, 2018 – 2030)
- Garments & Accessories
Bio-based Leather, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa