Market Overview:
The global vegan leather market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing awareness about animal welfare and rising demand for sustainable products. The plant-based textiles segment is expected to dominate the market during the forecast period, owing to its environmental benefits and growing popularity among consumers. In terms of application, OEM is expected to be the largest segment during the forecast period, as it offers a wide range of applications in various industries such as automotive, furniture, and clothing.
Product Definition:
Vegan leather is made of synthetic materials like polyurethane or microfiber and it doesn't involve the use of any animal products. It can be used to make a variety of items such as shoes, handbags, jackets, and furniture. Vegan leather is often considered more environmentally friendly than traditional leather because it doesn't require the use of animal hides.
Plant-based Textiles:
Plant-based textiles are the set of materials derived from natural fibers such as flax, cotton, and wool. These textiles are manufactured using a variety of techniques including spinning, weaving, knitting and crocheting to form yarns or fabrics.
Polyurethane (PU) or Polyvinyl Plastic (vinyl):
Polyurethane (PU) or Polyvinyl Plastic (vinyl) is a thermoplastic polymer with high heat and chemical resistance, excellent mechanical strength, and good electrical properties. It is widely used in the production of rigid foams for insulation purposes. PU based products are lightweight; have high durability; and can be easily colorized.
Application Insights:
The OEM segment dominated the global vegan leather market in 2017 and is expected to witness significant growth over the forecast period. The rising demand for high-quality, hand-made products from major automobile manufacturers such as BMW, Mercedes Benz and Audi is expected to drive the product demand in this segment.
The development of new technologies especially related to automotive applications has been a key driver for plant-based textiles. Plant based PU or vinyl substitutes are used in various automotive applications including dashboards, steering wheels and seats owing to their better mechanical properties such as strength hardness & flexibility which makes them suitable for use in automobiles. These factors are projected to fuel market growth over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of population with increasing disposable income, which will drive demand for consumer goods including handbags, shoes, and accessories. In addition, rising awareness regarding animal cruelty coupled with growing environmental concerns is likely to propel PU-based products such as laptop bags and diaper bags in near future.
Europe accounted for more than 25% of the overall revenue share in 2017 owing to high demand from fashion industry along with growing vegan population in Germany and U.K., which resulted into an increase in online retail sales of leather-based products over past few years (as shown below).
Germany was one of the largest markets accounting for more than 50% share due to high product demand from automotive sector on account of low maintenance cost as compared to synthetic materials used by major manufacturers globally (as shown below).
Growth Factors:
- Increasing awareness about the benefits of vegan leather among consumers.
- Growing demand for sustainable and environment-friendly products.
- Rising popularity of vegan lifestyle among millennials and Gen Zers.
- Proliferation of online retail platforms that offer vegan leather products at competitive prices.
- increasing investments by fashion brands in research and development to create innovative vegan leather products
Scope Of The Report
Report Attributes
Report Details
Report Title
Vegan Leather Market Research Report
By Type
Plant-based Textiles, Polyurethane (PU) or Polyvinyl Plastic (vinyl)
By Application
OEM, ODM
By Companies
Kuraray, Toray, Teijin, Nanya, Favini, Sappi, Foremost Group, The Little Leather Factory, Cut and Stitch, Ananas Anam, Kuraray, Sunta Chemical Corp, BZ LEATHER
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Vegan Leather Market Report Segments:
The global Vegan Leather market is segmented on the basis of:
Types
Plant-based Textiles, Polyurethane (PU) or Polyvinyl Plastic (vinyl)
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
OEM, ODM
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kuraray
- Toray
- Teijin
- Nanya
- Favini
- Sappi
- Foremost Group
- The Little Leather Factory
- Cut and Stitch
- Ananas Anam
- Kuraray
- Sunta Chemical Corp
- BZ LEATHER
Highlights of The Vegan Leather Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Plant-based Textiles
- Polyurethane (PU) or Polyvinyl Plastic (vinyl)
- By Application:
- OEM
- ODM
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vegan Leather Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vegan leather is a type of leather that does not contain any animal products. This means that the leather is made from plant-based materials, such as vegetable tanned hides.
Some of the major players in the vegan leather market are Kuraray, Toray, Teijin, Nanya, Favini, Sappi, Foremost Group, The Little Leather Factory, Cut and Stitch, Ananas Anam, Kuraray, Sunta Chemical Corp, BZ LEATHER.
The vegan leather market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vegan Leather Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vegan Leather Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vegan Leather Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vegan Leather Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vegan Leather Market Size & Forecast, 2018-2028
4.5.1 Vegan Leather Market Size and Y-o-Y Growth
4.5.2 Vegan Leather Market Absolute $ Opportunity
Chapter 5 Global Vegan Leather Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Vegan Leather Market Size Forecast by Type
5.2.1 Plant-based Textiles
5.2.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Vegan Leather Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Vegan Leather Market Size Forecast by Applications
6.2.1 OEM
6.2.2 ODM
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vegan Leather Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vegan Leather Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Vegan Leather Analysis and Forecast
9.1 Introduction
9.2 North America Vegan Leather Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Vegan Leather Market Size Forecast by Type
9.6.1 Plant-based Textiles
9.6.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Vegan Leather Market Size Forecast by Applications
9.10.1 OEM
9.10.2 ODM
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Vegan Leather Analysis and Forecast
10.1 Introduction
10.2 Europe Vegan Leather Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Vegan Leather Market Size Forecast by Type
10.6.1 Plant-based Textiles
10.6.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Vegan Leather Market Size Forecast by Applications
10.10.1 OEM
10.10.2 ODM
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Vegan Leather Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Vegan Leather Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Vegan Leather Market Size Forecast by Type
11.6.1 Plant-based Textiles
11.6.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Vegan Leather Market Size Forecast by Applications
11.10.1 OEM
11.10.2 ODM
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Vegan Leather Analysis and Forecast
12.1 Introduction
12.2 Latin America Vegan Leather Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Vegan Leather Market Size Forecast by Type
12.6.1 Plant-based Textiles
12.6.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Vegan Leather Market Size Forecast by Applications
12.10.1 OEM
12.10.2 ODM
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Vegan Leather Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Vegan Leather Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Vegan Leather Market Size Forecast by Type
13.6.1 Plant-based Textiles
13.6.2 Polyurethane (PU) or Polyvinyl Plastic (vinyl)
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Vegan Leather Market Size Forecast by Applications
13.10.1 OEM
13.10.2 ODM
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vegan Leather Market: Competitive Dashboard
14.2 Global Vegan Leather Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kuraray
14.3.2 Toray
14.3.3 Teijin
14.3.4 Nanya
14.3.5 Favini
14.3.6 Sappi
14.3.7 Foremost Group
14.3.8 The Little Leather Factory
14.3.9 Cut and Stitch
14.3.10 Ananas Anam
14.3.11 Kuraray
14.3.12 Sunta Chemical Corp
14.3.13 BZ LEATHER
