Global Plant-based Leather Market Size/Share Estimated to Gain USD 44.13 Billion by 2032, at 10.1% CAGR: Polaris Market Research

New York, NY, April 25, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “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” in its research database.

“According to the latest research analysis, the global plant-based leather market size/share is anticipated to be valued at approximately USD 17.09 Billion in 2022 and is projected to hit a revenue of around USD 44.13 Billion by 2032, at a CAGR of around 10.1% between 2023 and 2032.”

What is Plant-based Leather? How Big Is Plant-based Leather Market Size & Share?

• Overview

Plant-based leather is made from innovative and viable substances such as cork, pineapple leaves, apple peels, other fruit scrap, and recycled plastic. The rapidly rising demand for a plant-based leather market can be attributed to it being obtainable in several varied traits. It can be compared to animal leather because the higher the quality, the longer it will carry on. Even when of pronounced grade, plant-based leather is cost-effective and of a lesser attribute in comparison to real leather.

Environmental concerns such as global warming, climate change, draining of natural materials are impacting youth and swapping their viewpoints and conduct. One such conduct alteration is the conversion to vegetarianism. The demand for plant-based substances, vegan, biodegradable, moral, and ecological, is hailing from youth who are prominent players in the battle against climate change.

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Our Sample Report Covers:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Requests.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of tables & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Ananas Anam
• DESSERTO
• NUPELLE
• Natural Fiber Welding Inc.
• PEEL Lab
• Pangaia Grado Zero SRL
• MABEL SRL
• Beyond Leather Materials
• Ecovatie LLC
• BZ Leather
• MycoWorks
• Fruitleather Rotterdam
• Nova Milan
• Tjeerd Veenhoven Studio
• Flokser A.S.
• DuPont Tate & Lyle Bio Products
• Paraxel International Corporation
• Fiber Welding Inc.
• Atlas Hessen Biotech

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Key Growth Driving Factors

• Growing environmental concerns: Plant-based leather market size is expanding due to growing environmental worries such as global warming, climate change, exhaustion of natural measures that cause altering consumer vantage points, and disbursing practices towards the ecological and justifiable commodities is escalating the demand for vegan and cruelty-free products and therefore pushing the market growth at a speedy scale.
• Countering climate change by youth: Mostly, the youth that is a prominent feature in countering climate change is; extremely difficult the renewal of animal procured leather with plant-based.
• Animal rights and health: Plant-based leather market sales are soaring as many crusades pertaining to animal rights, and health has been lately initiated covering several countries together with an escalating inclination of utilizing plant-based stylish commodities, fitments, and footwear, amongst others are the prominent elements impacting the market growth.
• Increasing utilization of fossil fuels: Conventional pre-tanning and tanning processes cause excessive pollution, causing approximately 90% of the tannery's overall pollution. Salts, lime sludge, sulfides, and acids are among the pollutants discovered in tannery wastewater. Livestock fabrication utilizes a huge amount of fossil fuels, and real leather has almost three times the cynical environmental influence of its plant-based leather alternatives. Therefore, the growing consciousness concerning the unfavorable impact of leather boosts the demand for the market.

Top Report Findings

• Livestock fabrication utilizes a huge amount of fossil fuels, and real leather has almost three times the cynical environmental influence of its plant-based leather alternatives, thereby pushing the market growth.
• The market is essentially divided into product type, application, and region.
• The leading region of the market is Europe.

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Top Trends Influencing the Market

• Apple skin handbags: In September 2022, Sarjaa declared the initiation of its brand new eco-chic and multifaceted handbags comprising apple skin and several other fruit-based leathers. The contemporarily invented bags are delightfully handcrafted utilizing many fruit leather involving pineapple, apple, and cactus in which padding had morally validated silks and cotton.
• Plant-based product is entirely biodegradable: Formerly, leather was manufactured primarily from animal skins, which utilizes millions of animals yearly and notably impacts biodiversity; these kinds of leather are prepared through several detrimental chemicals, and the excessive amount of water is utilized in them which also engenders wastage of water. Since plant-based leather does not require water to expand, is entirely biodegradable, and possesses a prolonged life of approximately 10 years which, it is acquiring high popularity.
• Corrosion-proof properties: Growing consciousness about the benefits of using lubricant-based commodities because of their corrosion-proof, non-flammable, and nontoxic possessions will additionally push the market.

Segmental Analysis

• The mushroom leather segment accounted for the largest market share

Based on product type, the mushroom leather segment accounted for the largest market share. Plant-based leather market demand is on the rise due to escalated administration of mushroom leather in a broad gamut of industries comprising fashion and automotive industries to encounter the increasing need for vegan and brutality-free commodities covering the globe.

• The fashion accessories segment is expected to grow at the fastest growth rate

Based on application, the fashion accessories segment is expected to grow at the fastest growth rate during the forecast period. Plant-based leather market trends include the broad gamut of end product makers globally utilizing plant-based leather for the fabrication of several kinds of accessories involving watch straps, handbags, belts, and many more, which is notably impacting the market growth.

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Plant-based Leather Market: Report Scope

Geographic Overview

Europe: This region held the largest plant-based leather market share as several kinds of proceedings are being accepted by manufacturers and producers in the region to address many issues, including climate neutrality, material reprocessing, climate handling, legitimate production operations, and upcycling is causing escalated acquisition of plant-based leather covering several end-use commodities.

Asia Pacific: It is the fastest growing region, predominantly pushed by increasing population, the scope of urbanization, and constantly proliferating industrialization in countries such as India and China. Economic development in the surfacing nations of the APAC region, pronounced applications in the embellishing and footwear sector, along with growing government endeavors towards animal wellbeing are anticipated to provide profitable growth opportunities to the regional market. 

Browse the Detail 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” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/plant-based-leather-market            

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Recent Developments

• In February 2022, Road Angles entered a new fashion alliance with the Desserto limited-edition cactus leather, which is organically breathable and completely cruelty-free. It is made with luxurious cactus leather in a mysterious black and precious gold and is highly resilient in hot and humid conditions, reliable, and durable.
• In October 2021, Adidas Boxing announced the launch of its new boxing gloves named Tilt 250, made from sustainable cactus leather and featuring a newly registered design technology that is likely to completely revolutionize boxing gloves. Also, the newly developed product is the world's first sustainable and environment-friendly organic material made of Nopal cactus.

Frequently Asked Questions

• What is the anticipated industry size of the market?
• Who are the top market players?
• Which region contributes notably towards the market?
• What will be the expected CAGR of the market during the forecast period?
• What are the key segments in the market?
• What is the global demand in terms of revenue?
• What are the driving factors fuelling the growth of the market?

Polaris Market Research has segmented the Plant-based Leather market report based on product type, application, and region:

By Product Type Outlook

• Pineapple Leather
• Cactus Leather
• Mushroom Leather
• Apple Leather
• Other Product Types

By Application Outlook

• Clothing
• Accessories
• Footwear
• Automotive Interiors
• Home Décor
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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