Vegan leather market will reach $89.6 billion by 2025, report reveals – Totally Vegan Buzz

Vegan leather market will reach $89.6 billion by 2025, report reveals

Vegan leather market will reach $89.6 billion by 2025
Image: Venus Angel / shutterstock.com

The global demand for vegan leather has seen a paradigm shift owing to rising applications across furnishing, automotive, clothing, bags, and others.’

The Infinium Global Research’s report on the Vegan Leather Market says the industry is poised to reach 89.6 billion by 2025.

The study also estimates a compound annual growth rate of 49.9 percent for the vegan leather industry in the forecast period (2019 to 2025).

The report highlights that the global demand for vegan leather has witnessed noteworthy growth over the last decade and attributes it to a number of factors which include evolving consumer trends, concerns over the impact of traditional leather on the planet, increased demand for cruelty-free products, and rising awareness regarding the attributes of vegan leather, among others.

Uses

Vegan leather is increasingly finding more applications across industries such as footwear, interior designing, furnishing, automotive interiors, garments, and luxury goods thus boosting its popularity.

The report adds that increasing demand from the footwear sector is also a major driving factor to boost the industry.

Other factors such as animal cruelty regulations and policies across the globe are other important determinants that will drive vegan leather sales in the coming years.

Properties

While vegan leather has a comparatively shorter lifespan as related to traditional leather, the physical and functional properties of vegan leather are at par with that of its traditional counterpart.  

In addition, ongoing research and development activities are leading more and innovative plant resources being used to create sustainable, durable and functional vegan leather with superior properties.

Vegan leather products

Many Innovative companies are creating leather from plastic, fruit waste, mushrooms, corn, and even coffee.

Last year, Toronto based fashion company Samara created faux leather bags from wasted apple peels instead of plastic.

Last November, UK based bag company- Original Satchel Store ditched leather to use Piñatex, a natural leather sourced from  pineapple leaves to make its signature bags.

36 Chambers brand owned by Wu-Tang Clan member RZA launched a vegan wallet made from banana leaf last year.

Around the same time, Adidas and Stella McCartney teamed up to release a complete vegan version of the iconic Adidas Stan Smith trainer, an upgrade to McCartney’s first Stan Smith sneaker made of faux leather in 2018.

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Published by Totally Vegan Buzz Team

The Totally Vegan Buzz Team are a gang of extremely entertaining writers who also happen to be vegan. Together, they bring you all the vegan infotainment you need - trends, news, quizzes and more. Leave them a comment! They love it when you guys say hi...

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