environmental hazards associated with use of normal leather is driving the Bio-Based Leather Market
Technavio analyzes that the Bio-Based Leather Market is expected to grow at a CAGR of 6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 227.7 million.There are various factors that contribute to the growth of the market. The production and use of traditional leather have been identified as posing significant environmental risks. These hazards include the release of chromium hexavalent compounds during tanning, which can contaminate water sources and harm aquatic life. Additionally, the industry's high water consumption and energy usage contribute to substantial carbon emissions. The shift towards bio-based leather, derived from renewable sources, offers a more sustainable alternative, mitigating these environmental concerns.
In response to growing concerns over the environmental impact of traditional leather production, which includes high energy and water consumption, emissions, and waste generation, the demand for bio-based leather is surging. This eco-friendly alternative is derived from renewable sources, making it not only sustainable but also biodegradable. Moreover, it offers the same desirable properties as conventional leather, such as breathability, scratch resistance, and durability. The USDA and National Organic Program have established regulations ensuring the ethical sourcing of raw materials, using animals raised on organic feeds and tanned in certified organic facilities, where plant-based tanning agents are employed. This approach addresses ecological concerns, reduces animal exploitation, and aligns with consumer preferences for sustainable and ethical products.
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Bio-Based Leather Market Segmentation
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The bio-based leather market is experiencing significant growth due to the increasing demand for eco-friendly and sustainable materials in the fashion industry. Bio-based leather, also known as vegan leather, is made from renewable resources such as mushroom, mycelium, muskin, pineapple leaves, and cork. These materials offer high-quality, durability, and texture, making them suitable for various applications including footwear, garments, accessories, furniture, and home decoration. Unlike traditional leather, bio-based leather production does not involve health risks associated with chemicals, energy consumption, water consumption, emissions, waste, and breathability issues. Additionally, these materials are scratch-resistant and offer a suede-like texture. The use of leftover fruits and other plant-based materials in the production process further adds to the sustainability of bio-based leather. This trend is expected to continue in the sports, clothing, bags and wallets, and furnishing sectors.
The bio-based leather market represents a segment of the larger commodity chemicals industry, focusing on the production of eco-friendly and sustainable materials for fashion applications. Bio-based leather, an alternative to traditional animal-derived leather, offers comparable quality, durability, and texture. The global commodity chemicals market, which encompasses manufacturers of industrial and basic chemicals such as plastics, synthetic fibers, and films, experiences growth due to increasing demand for sustainable materials in various industries, including footwear and garments. This trend is particularly evident in the fashion sector, where consumers are increasingly conscious of the environmental impact of their purchases. The use of bio-based leather in place of conventional leather contributes to reducing the carbon footprint and promoting circular economy principles. As the demand for eco-friendly materials continues to rise, the bio-based leather market is poised for significant growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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