Natural Fiber Welding, Inc. (US) and Ananas Anam Ltd. (UK) are Leading Players in the Bio-based Leather Market
In terms of value, the bio-based leather market is estimated to grow from USD 107 million in 2023 to USD 216 million by 2028, at a CAGR of 15.0%. Rising demand for eco-friendly and sustainable leather materials from industries such as footwear, garments & accessories, furniture, and automotive for a variety of applications is leading the market. In addition, most of the key industry players are investing in heavy research and development for more durable materials. During the forecast period, this is anticipated to expand the bio-based leather market even more. In contrast, the market growth is being constrained by expensive product costs & R&D expenses and the durability of bio-based leather.
The key players in this market are Natural Fiber Welding, Inc. (US), Ananas Anam Ltd. (UK), MycoWorks Inc. (US), Bolt Threads Inc. (US), Modern Meadows (US), Adriano di Marti (Mexico), Ultrafabrics Holdings Co., Ltd. (US), Beyond Leather Materials (Denmark), Fruitleather Rotterdam (Netherlands), and VEGEA (Italy). These companies are known for developing a wide variety of bio-based leather used in various end-use industries. To address the rising demand for bio-based leather across a range of applications, players in the bio-based leather market are primarily focusing on their research and development. Companies may improve their source range and better quality of leather to promote bio-based leather.
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The new product launches between 2019 and 2023 have had a substantial influence on the expansion of the bio-based leather market. Different businesses have used various approaches to strengthen their positions in the bio-based leather market. For instance, Natural Fiber Welding, Inc., MycoWorks Inc., Bolt Threads Inc., Modern Meadows, Adriano di Marti, and Ultrafabrics Holdings Co., Ltd. primarily focus on the North American and South American regions, whereas Ananas Anam Ltd., Beyond Leather Materials, Fruitleather Rotterdam, and VEGEA has a major concentration on the European region. In essence, these businesses have solidified their presence in their home regions and are looking for ways to diversify geographically to grow their company operations. Additionally, during the past few years, all these companies have been committed to strengthening their product portfolios and market presence through strategic alliances.
Natural Fiber Welding, Inc. is a precursor in the field of biotechnology in the US. Natural Fiber Welding, Inc. has emerged as a pioneer in the development of sustainable materials. The core focus of the company is the research and commercialization of new, plant-based materials that are environmentally friendly, adaptable and have the potential to replace traditional materials in a variety of industries. Natural Fiber Welding, Inc.'s innovative method, "Mirum," transforms natural fibers and agricultural leftovers into strong, durable, and customizable materials. For instance, in June 2023, the company announced a partnership with Ahima that will make it easier to develop footwear made with MIRUM. This partnership will help the company to cover a wide range of markets. Moreover, in February 2023, the company announced the partnership with Lenzing AG to offer TENCEL branded fibers as another backer option for Natural Fiber Welding, Inc. patented plant-based technology, MIRUM. The partnership will help the company to develop infinite possibilities for application from the new material.
Ananas Anam Ltd. is a pioneering sustainable materials company known for its innovative creation, Pinatex. The company has revolutionized the fashion and textile industries with its plant-based, non-woven textile material made from pineapple leaf fibers. Pinatex is derived from the byproduct of pineapple cultivation, reducing agricultural waste. Ananas Anam Ltd. has garnered global recognition for its commitment to sustainability and ethical practices. The company collaborates with renowned brands and designers to incorporate Pinatex into their products, offering a cruelty-free and sustainable alternative to traditional leather and synthetic materials. For instance, in July 2021, the company entered a partnership with Dole Sunshine Company to access a larger volume of pineapple fibers to meet the increasing demand for Pinatex.
Related Reports:
Bio-based Leather Market by Source (Mushroom, Pineapple, Apple, Cactus, Tree Bark, Leftover Fruits), End-Use Industry (Footwear, Garments & Accessories), and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2028
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