Vegan Leather Market To Hit $89 Billion by 2025
Fashion brands, such as singer Rihanna’s FENTY company, are introducing vegan leather options.
Exciting news from a newly published Infinium report highlights that the faux leather market will be $89 Billion by 2025. This is exciting news for entrepreneurs exploring and creating products featuring plant-based leather. This growth represent a CAGR (compound annual growth rate) of 49% over the forecast period of 2019-2025. This trend underscores the growing demand for for environmentally conscious products.
Source: Google Trends for ‘Vegan Leather’
A Google Trends reports shows that the search term ‘Vegan Leather’ hit an all time high in December of 2019.
Some of the brands embracing faux leather products, include:
Piñatex, Modern Meadow, FENTY, Mylo/MycoWorks, Vegea, GUNAS New York, Rotterdam Fruitleather, and Matt & Nat.
Non-animal derived leather can be made in a variety of ways, including: cork, plastic, microfiber, kelp (a type of sea-green), canvas, hemp, bamboo, coffee, wine byproducts, or PVC.
As with plant-based food, the fashion world will see more and more non-animal derived leather products launch throughout the 2020s as new brands adapt to changing consumer preferences.