Vegan Leather Goods Market Introduction and Overview
According to SPER Market Research, the Global Vegan Leather Goods Market is estimated to reach USD 183.98 billion by 2033 with a CAGR of 9.79%.
The report includes an in-depth analysis of the Global Vegan Leather Goods Market, including market size and trends, product mix, applications, and supplier analysis. The industry for vegan leather goods is cantered on the creation and distribution of goods that mimic the look and feel of genuine leather but are manufactured from non-animal materials. These materials include innovative plant-based alternatives like cactus, mushroom leather, and pineapple leaf fibres, as well as synthetic options like polyurethane (PU) and polyvinyl chloride (PVC). The market is driven by growing consumer demand for ethical, sustainable, and environmentally friendly products and spans multiple sectors, such as fashion, automotive, and furniture.
- March 2022; Polybion, a Mexican biotechnology start up, revealed that they would be launching Celium, a new vegan leather made from agro-industrial food waste. The bio-textile is made from sustainable materials and is meant to replace conventional products. Moreover, this material is available for use in fashion, sportswear, and automobile applications.
- November 2021; A biotech starts up and the German luxury handbag brand Melina Bucher announced their partnership to create vegan leather that is plastic-free and bio based. It is anticipated that this partnership will bring a range of accessories made of bio-based materials. The increasing demand from consumers for sustainable products has led to this collaboration.
Market Opportunities and Challenges
Opportunities: The market for vegan leather goods is being driven by factors such as growing consumer awareness of environmental sustainability and animal welfare, which in turn is creating a demand for cruelty-free and eco-friendly products. When compared to the production of animal leather, vegan leather usually has a smaller environmental impact. It frequently uses less water and produces fewer pollutants. Technological developments have improved the vegan leather materials' quality, resilience, and variety. Additionally, consumers are choosing premium vegan leather goods due to rising disposable incomes and evolving fashion trends. Additionally, the growth of e-commerce platforms has made these products more widely available and accessible worldwide
Challenges: The market for vegan leather goods faces a number of obstacles. One major concern is durability, since vegan leather may not be as strong as traditional leather, especially in harsh environments. Vegan leather goods are often more expensive due to high production costs, which may restrict consumer adoption. Furthermore, according to Research Markets, some customers believe vegan leather to be of lower quality and longevity. Concerns about the environment still exist, particularly with regard to vegan leathers made of plastic that might not biodegrade and contain dangerous chemicals. Consumer trust is impacted by the additional complexity brought about by regulatory and standardization issues, which also make it unclear what constitutes vegan leather.
Market Competitive Landscape
Due to the large number of players, it is anticipated that the global Vegan Leather Goods Market will be fragmented. Furthermore, as consumers become more aware, established manufacturers of high-end leather goods are gravitating toward the vegan luxury market. It is anticipated that this will broaden the global vegan leather market's competitive environment. The major players in the market are Ananas Anam, Biofiba, Bolt Threads, Desserto, Kombucha Couture, Matt & Nat, MycoWorks, Vegea, Votch, Will’s Vegan Shoes, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Source , By Application, By End-User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Ananas Anam, Biofiba, Bolt Threads, Desserto, Kombucha Couture, Matt & Nat, MycoWorks, Vega, Votch, Will’s Vegan Shoes, Others.
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COVID-19 Impact on Global Vegan Leather Goods Market
The COVID-19 pandemic had an impact on the market for vegan leather goods by lowering demand as a result of consumers spending less on non-essential items and by causing supply chain disruptions from factory closures and transportation limitations. The need for fashion accessories was further reduced by remote work and lockdowns. Nonetheless, some effects were lessened by the move to online shopping and the growing emphasis on sustainability among consumers. In order to reach customers at home, many vegan leather businesses adjusted by boosting their online presence and digital marketing initiatives, potentially paving the way for a post-pandemic market recovery.
Key Target Audience:
- Industry Players and Manufactures
- Retailers and Distributors
- Investors and Financial Institutions
- Government Agencies and Regulatory Bodies
- Research and Development Professionals
- Environmental Organizations and Advocacy Groups
- Consumers
Our in-depth analysis of the Vegan Leather Goods Market includes the following segments:
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By Application: |
Apparels
Footwear
Bags & Wallets
Vehicle upholstery
Fashion Accessories
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By End-User: |
Fashion
Furniture
Automotive
Textile
Furnishing
Electronics
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By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report:
- Global Vegan Leather Goods Market Size (FY’2024-FY’2033)
- Overview of Global Vegan Leather Market
- Segmentation of Global Vegan Leather Goods Market By Source (Synthetic/Plastic based, Natural/Plant based)
- Segmentation of Global Vegan Leather Goods Market By Application (Apparels, Footwear, Bags & Wallets, Vehicle upholstery, Fashion Accessories)
- Segmentation of Global Vegan Leather Goods Market By End-User (Fashion, Furniture, Automotive, Textile, Furnishing, Electronics)
- Statistical Snap of Global Vegan Leather Goods Market
- Expansion Analysis of Global Vegan Leather Goods Market
- Problems and Obstacles in Global Vegan Leather Goods Market
- Competitive Landscape in the Global Vegan Leather Goods Market
- Impact of COVID-19 and Demonetization on Global Vegan Leather Goods Market
- Details on Current Investment in Global Vegan Leather Goods Market
- Competitive Analysis of Global Vegan Leather Goods Market
- Prominent Players in the Global Vegan Leather Goods Market
- SWOT Analysis of Global Vegan Leather Goods Market
- Global Vegan Leather Goods Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Vegan Leather Goods Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Vegan Leather Goods Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Vegan Leather Market
7. Global Vegan Leather Goods Market, By Source (USD Million) 2020-2033
7.1. Global Vegan Leather Goods Market Size, Share and Forecast, By Source, 2020-2026
7.2. Global Vegan Leather Goods Market Size, Share and Forecast, By Source, 2027-2033
7.3. Synthetic/Plastic based
7.4. Natural/Plant based
8. Global Vegan Leather Goods Market, By Application (USD Million) 2020-2033
8.1. Global Vegan Leather Goods Market Size, Share and Forecast, By Application, 2020-2026
8.2. Global Vegan Leather Goods Market Size, Share and Forecast, By Application, 2027-2033
8.3. Apparels
8.4. Footwear
8.5. Bags & Wallets
8.6. Vehicle upholstery
8.7. Fashion Accessories
9. Global Vegan Leather Goods Market, By End-User (USD Million) 2020-2033
9.1. Global Vegan Leather Goods Market Size, Share and Forecast, By End-Users, 2020-2026
9.2. Global Vegan Leather Goods Market Size, Share and Forecast, By End-Users, 2027-2033
9.3. Fashion
9.4. Furniture
9.5. Automotive
9.6. Textile
9.7. Furnishing
9.8. Electronics
10. Global Vegan Leather Goods Market Forecast, 2020-2033 (USD Million)
10.1. Global Vegan Leather Goods Market Size and Market Share
11. Global Vegan Leather Goods Market, By Region, 2020-2033 (USD Million)
11.1. Global Vegan Leather Goods Market Size and Market Share By Region (2020-2026)
11.2. Global Vegan Leather Goods Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. Ananas Anam
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Biofiba
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Bolt Threads
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Desserto
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Kombucha Couture (Malai, Kombucha Couture)
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Matt & Nat
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. MycoWorks
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Vegea
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Votch
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Will’s Vegan Shoes
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
