Bio-based Leather Market worth $868 million by 2026 | Key players Bolt Threads Inc., OtisAnanas Anam Ltd., Modern Meadows, Nat-2, Natural Fiber Welding Inc., Ultrafabrics.

The report "Bio-based Leather Market by Source (Mushroom, Pineapple, Cork, Leftover Fruits), End-use (Footwear, Garment & Accessories),and Region (North America, APAC, Middle East & Arica, South America, and Europe) - Global Forecast to 2026" The bio-based leather market is projected to reach USD 868 million by 2026, at a CAGR of 6.1% from USD 647 million in 2021.Bio-based leather is a sustainable alternative to natural leather. According to People for the Ethical Treatment of Animals (PETA), "Vegan leather is often made from polyurethane, a polymer that can be made to order for any designer's whim.

It can also be made from innovative and sustainable materials such as pineapple leaves, cork, apple peels, other fruit waste, and recycled plastic". They are majorly used in industries such as footwear, garments & accessories, and others.
Bio-based leather can be categorized into five, based on its source- mushroom, pineapple, cork, leftover fruits, others. Pineapples had a larger share in terms of value in 2020 as compared to mushroom and other sources. 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 other accessories seeking a 'hardy' aesthetic.

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Mushroom-based leather are expected to grow at the highest CAGR during the forecast period. Mushroom-based leather is made from mycelium, the vegetative part of a fungus. The growing process takes between two to three weeks. By adding dyes or changing the pressing form, the material can mimic like any kind of animal leather, from cow to alligator to python skin. In the apparel industry, mushroom-based leather is preferred, as it is lightweight and very flexible, which makes it practical for a wide range of products. These qualities will drive the mushroom bio-based leather market in the forecast period.

The bio-based leather market size for the garment & accessories industry accounted for the second-largest share of global bio-based leather, in terms of value, in 2020. The bio-based leather for the garments & accessories industry has always been driven by the economies of North America, Europe, and APAC. Most of the countries are expected to continue using traditional leather garments & accessories than the bio-based leather garments & accessories. Garments & accessories consumption is expected to increase worldwide and, subsequently, the consumption of bio-based leather is expected to increase to meet the stringent environmental norms, especially in North America.

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North America was the largest bio-based leather market, in terms of value, in 2020. Globally, it has been leading the market in demand as well as product innovation in terms of quality and end-use industry development. Due to stringent environmental regulations, the bio-based leather industry is experiencing significant growth. The bio-based leather market in North America is highly driven by the footwear and garment industries. Companies such as NOAH, SUSI Studio, Taylor+ Thomas, Modern Meadow and Sydney Brown are the leading manufacturers of bio-based leather products in this region.

The key market players profiled in the report include Toray Industries Inc. (Japan), Bolt Threads Inc. (US), Ananas Anam Ltd. (UK), Modern Meadows (US), Nat-2 (Germany), Natural Fiber Welding Inc. (US), Ultrafabrics (US), MycoWorks (US), ECCO Leather (Netherlands), VEGEA(Italy), Fruitleather Rotterdam (Netherlands), and Tjeerd Veenhoven studio (Netherlands).

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Toray Industries Inc. is an integrated chemical company, that specializes in industrial products of organic synthetic chemicals, polymer chemicals, and biochemicals. It operates its business through six segments namely, Fibers & Textiles, Performance Chemicals, Carbon Fiber Composite Materials, Environment & Engineering, Life science & Others. It offers bio-based leather through its Fibers & Textiles segment under Textiles sub-segment. The products offered by Toray have been adopted in wide range of applications from clothing to general goods and industrial materials. The company has a wide range of global footprint across 29 countries with 283 subsidiaries worldwide. In January 2020, Toray completes acquisition of Alva Sweden AB, a manufacturer of cushions for automotive air bag systems to expand its fiber & textiles business segment. In November 2018, Toray to introduce an environment friendly non-woven material with suede texture named Ultrasuede BX. It is claimed to be world's highest level of plant-based raw material content. It is used in automotive, interior, and fashion applications.

Ananas Anam Ltd. is a leading startup that manufactures non-woven textile products. Ananas Anam developed Pinatex, a natural leather, which is an eco-friendly alternative to animal-based leather and petroleum-based leather. Pinatex is an innovative, sustainably sourced bio-based leather made from pineapple leaf fibers. It is used in several applications such as bags, shoes, wallets, watch bands, and automotive seat covers. The company aims at developing innovative products with advanced technology and renewable and sustainable raw materials. Ananas Anam is based in London, UK, with operations in the Philippines and Spain. In July 2021, Ananas Anam Ltd. entered into a partnership with Dole Sunshine Company to access a larger volume of pineapple fibers to meet the increasing demand for Pinatex.

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