Global Vegan Leather Market Growing at a CAGR of 52.45% to Reach USD 718.6 Billion By 2030 | Infinium Global Research

Infinium Global Research, a renowned market research and consulting firm, has released an insightful report on the global vegan leather market, offering a comprehensive analysis of market segments, emerging trends, and key players. This comprehensive report provides valuable insights into the vegan leather industry, emphasizing the impact of various factors such as consumer awareness, environmental concerns, and increasing adoption in the automotive sector. The global vegan leather market was valued at USD 25.43 Billion in 2022 and is expected to reach USD 718.6 Billion by 2030 and grow at a CAGR of 52.45% over the forecast period.

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The global vegan leather market has witnessed significant growth in recent years, driven by a growing consumer shift towards cruelty-free, eco-friendly alternatives. As consumers become increasingly conscious of the detrimental effects of traditional leather production on animals and the environment, the demand for vegan leather has surged.

Vegan leather, typically made from plastic-based materials like polyvinyl chloride (PVC) and polyurethane, is known for its thin and lightweight nature, making it an excellent choice for fashion applications. Innovative companies have also begun experimenting with alternative materials such as mushrooms, pineapples, and active cultures to create sustainable alternatives for the fashion industry.

The report highlights that the increasing adoption of vegan culture and the shift towards cruelty-free leather alternatives have led to a surge in demand for vegan leather. High-grade artificial leathers and recycled polyesters are gaining prominence in the market due to concerns over the environmental impact of traditional leather production. However, the high research and development (R&D) costs associated with manufacturing biodegradable vegan leather may moderately restrain market growth.

Despite these challenges, the report underlines the potential for the vegan leather market, particularly in the automotive industry. Key players in the automotive sector, such as Volkswagen, Mercedes-Benz, and Tesla, are adopting vegan leather in their vehicles, creating promising opportunities for emerging players in the vegan leather industry.

Geographically, North America holds the largest share in the global vegan leather market, driven by increasing demand for natural ingredients and a growing preference for vegan/vegetarian products. Europe is the second-largest market, with a substantial potential for growth, particularly in the UK and France. The Asia Pacific region, with countries like China, India, Japan, and South Korea, has also seen considerable growth, especially in the automotive and footwear industries.

The report provides a detailed analysis of the market by product and application segments. Product segments include polyurethane, recycled polyester, and bio-based vegan leather, while application segments encompass furnishing, automotive, footwear, bags & wallets, clothing, and other uses.

The report also features profiles of key companies in the market, including Ananas Anam Ltd, Desserto, VEJA, VEERAH, Responsive Industries Ltd, Modern Meadow, Bolt Threads Inc, VEGEA SRL, Fruitleather Rotterdam, and Matt & Nat Company.

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Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Vegan Leather Market Highlights

2.2. Vegan Leather Market Projection

2.3. Vegan Leather Market Regional Highlights

Chapter 3. Global Vegan Leather Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Vegan Leather Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Product

3.5.2. IGR-Growth Matrix Analysis by Application

3.5.3. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of Vegan Leather Market

Chapter 4. Vegan Leather Market Macro Indicator Analysis

Chapter 5. Global Vegan Leather Market by Product

5.1. Polyurethane

5.2. Recycled Polyester

5.3. Bio Based

Chapter 6. Global Vegan Leather Market by Application

6.1. Furnishing

6.2. Automotive

6.3. Footwear

6.4. Bags & Wallets

6.5. Clothing

6.6. Other Applications

Chapter 7. Global Vegan Leather Market by Region 2023-2030

7.1. North America

7.1.1. North America Vegan Leather Market by Product

7.1.2. North America Vegan Leather Market by Application

7.1.3. North America Vegan Leather Market by Country

7.2. Europe

7.2.1. Europe Vegan Leather Market by Product

7.2.2. Europe Vegan Leather Market by Application

7.2.3. Europe Vegan Leather Market by Country

7.3. Asia-Pacific

7.3.1. Asia-Pacific Vegan Leather Market by Product

7.3.2. Asia-Pacific Vegan Leather Market by Application

7.3.3. Asia-Pacific Vegan Leather Market by Country

7.4. RoW

7.4.1. RoW Vegan Leather Market by Product

7.4.2. RoW Vegan Leather Market by Application

7.4.3. RoW Vegan Leather Market by Sub-region

Chapter 8. Company Profiles and Competitive Landscape

8.1. Competitive Landscape in the Global Vegan Leather Market

8.2. Companies Profiles

8.2.1. Ananas Anam Ltd

8.2.2. Desserto

8.2.3. VEJA

8.2.4. VEERAH

8.2.5. Responsive Industries Ltd

8.2.6. Modern Meadow

8.2.7. Bolt Threads Inc

8.2.8. VEGEA SRL

8.2.9. Fruitleather Rotterdam

8.2.10. Matt & Nat Company

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of vegan leather.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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