Global Bio-based Leather Market Insight
The Bio-based Leather is forecast to fast increase over the next few years.According to the WK-chem Research "Global Bio-based Leather Professional Survey Report 2022, Forecast to 2027", Compared to other synthetic leathers, bio-based leather is more scratch-resistant and has a softer surface. Bio-based leather is phthalate-free and as a result, it has received official clearance and is exempt from stringent regulations and accounts for a significant portion of the globally synthetic leather market. Bio-based leather is commonly used in footwear, bags, wallets, seat covers and sports equipment, among other things. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.1% base on WK-chem Research regression analysis model.
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Analysts’ Viewpoint:
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"Rising awareness of the dangers of animal cruelty has led to the mass adoption of bio-based leather in many industries and sectors. Strategies such as mergers, acquisitions, joint ventures and partnerships are recommended for manufacturers, and these activities help to strengthen a foothold in the bio-based leather market and ultimately Increase growth rate." Said Lisa , Senior analyst, Chemical industry Market Research Center in WK-chem Research.
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Market insight:
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The vital sources of bio-based leathers are cork, leftover fruits, pineapple, and mushroom. Among all the sources, pineapple may emerge as a preferred source of obtaining bio-based leather. Pineapple is abundantly grown across numerous regions around the globe. Pinatex is made from the waste generated from the pineapple harvesting process. It has leather-like qualities and is apt for making boots, watches, and others. The rising demand for Pinatex is expected to attract extensive growth for the bio-based leather market. Bio-based leathers are gaining considerable momentum in the footwear industry. Many footwear companies are blending polymer resins with bio-based leathers for manufacturing durable footwear. Research is being carried out by footwear companies to develop 100% biodegradable products. These factors will serve as growth accelerators for the bio-based leather market. Furthermore, plant-based leathers have nearly 40 times less carbon impact than traditional leather. This aspect will invite extensive growth for the bio-based leather market.
The bio-based leather market is still in its infancy as only a few small-scale producers manufacture and employ the respective products on a wide scale. Since they are unavailable globally and exist unknown in emerging economies, the bio-based products market prospects are diminished in the global market. Furthermore, the presence, dominance and popularity of previously established real and synthetic leather also restrain the bio-based leather market.
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Competition Landscape:
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This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Bio-based Leather companies that include Toray Industries Inc, Bolt Threads Inc, Ananas Anam Ltd, Modern Meadows, Nat-2, Natural Fiber Welding Inc, Ultrafabrics, MycoWorks, ECCO Leather and VEGEA.
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Segmentation of Bio-based Leather Market:
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On the basis of type, the global Bio-based Leather market can be segmented into Mushroom, Pineapple, Cork, Leftover Fruits. Pineapple based leather is estimated to dominate the overall bio-based leather market, in terms of value. Pineapple is a perennial and abundantly grown fruit across the globe. It generates a lot of wastes which includes leaves, stem, pulps and skin. Pinatex is made by the waste from the pineapple harvesting process. The textile has leather-like qualities, but is slightly rougher, giving it a weathered vintage appeal that is well suited for watches, boots, and others. On the basis of application, the market is bifurcated into Footwear, Garment & Accessories. Footwear?was the largest end-use?for bio-based leather market. The bio-based leather market for footwear industry has been driven by the shift of preference by the customers and fashion brands for a sustainable and cruelty-free alternative to leather. North America and Europe are using various plant or mushroom sources to obtain bio-based leather. These plant or mushroom sources are easily cultivated and harvested. Many bio-based leather companies claim to manufacture 100% biodegradable products. Many companies use a blend of plant source and polymer resin to manufacture a durable footwear. Research and developments are going on in various countries to make the products 100% biodegradable in future. Plant-based leather has 40 times less carbon impact than traditional leather and 17 times less carbon than synthetic leather made from plastics. Many start-up companies have manufactured shoes out of cork, pineapple and coconut husks. This is expected to drive the growth of the bio-based leather in footwear industry.
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Bio-based Leather Market: Regional Analysis
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In terms of geography, the Global Bio-based Leather Market is classified into Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific was estimated to be the fastest-growing region in bio-based leather?market in the forecast period. High economic growth in the emerging countries and the increasing disposable income of people make Asia Pacific an attractive market for bio-based leather. The significant growth in industrial production, increased trade, and the rise in fashion and accessories are primarily responsible for the high consumption of bio-based leather in the region. China, Indonesia and Vietnam are the major markets for bio-based leather in the region. Additionally, government regulations are being implemented for carbon emission, which is further expected to boost the demand for bio-based leather during the forecast period.
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Cagr: 6.1 %
Largest share area：Asia Pacific
Largest share country：China
Product Type：Mushroom, Pineapple, Cork, Leftover Fruits
Application：Footwear, Garment & Accessories
Leading Company：Toray Industries Inc, Bolt Threads Inc, Ananas Anam Ltd, Modern Meadows, Nat-2