The global plant-based leather market size is expected to reach USD 44.13 billion in 2032 by according to a new study by Polaris Market Research. The report “Plant-based Leather Market Share, Size, Trends, Industry Analysis Report, By Product Type (Pineapple Leather, Cactus Leather, Mushroom Leather, Apple Leather, and Other Product Types); By Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
With the extensive rise in the global e-commerce industry across the globe and increased number of mobile phone users and penetration, the plant-based leather market is expected to show substantial market growth over the coming years. As, several types of attractive blogs, social media campaigns, and emergence of online platforms are encouraging consumers towards and making them more aware towards the benefits of vegan of plant-based products. In addition, to cater the growing consumer demand for animal-free and organic products, several manufacturers are implementing on new products development and enhancement, which is likely to create significant market growth opportunities.
For instance, in September 2022, Allbirds, introduced new plastic free plant borne leather sneakers in a partnership with the Natural Fiber Welding, with an aim to reduce the dependence on harmful chemical-based products. Sneaker lining is made up of Tencel & the midsole from the sweet-foam sugarcane-based green ethylene-vinyl acetate.
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In the last few years, the emerging trend of inclination towards the green products coupled with the growing government regulations on variety of plant-based products and rise in the fashion consciousness among people are gaining high traction and resulting in higher demand and growth. In addition, the presence of a healthy economy and easy availability of credit especially in developed countries like US, Canada, and Germany, people are willing to try different things, which is anticipated to boom the market growth at significant rate.
In comparison to the growing criticism of the effects of animal agriculture and meat industry are all directly related and equally responsible for environmental and social damage. As the traditional process of leather production releases various hazardous gases and chemicals such as chromium, lead, arsenic, and many others, which have led to the closure of various tanneries. Meanwhile, there is a rapidly growing market for plant-based leather alternatives and companies across the world.
Plant-based Leather Market Report Highlights
Polaris Market Research has segmented the Plant-based Leather market report based on product type, application, and region:
Plant-based Leather, Product Type Outlook (Revenue - USD Billion, (2019 - 2032)
Plant-based Leather, Application Outlook (Revenue - USD Billion, (2019 - 2032)
Plant-based Leather, Regional Outlook (Revenue - USD Billion, (2019 - 2032)