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Vegan Leather Market

Goals

To understand market size, relevant market trends, (consumer and possible regulatory) and competitive landscape of the vegan leather market (already aware of Ananas Anam, Fruitleather Rotterdam, LeQara, Modern Meadow) in order to inform a business strategy.

Early Findings

Our background research revealed insights on the vegan leather market. Here are some key pieces of information we found:

Vegan Leather Market:

Overview

  • The vegan leather global market is projected to be worth $85 billion by 2025.
  • According to Grand View Research, "vegan leather is resembling animal-based leather more and more all the time, and cruelty-free versions are replacing animal products in handbags, briefcases, car furnishings, and clothing at a “pacing rate.”
  • Currently trending is the consumer demand for animal-free leather, according to industry experts, and "footwear, furniture, and automotive companies are keen to keep up." Consumers once perceived vegan leather as "cheap and flimsy", and now consumers often prefer the "durable, high-quality alternatives" of vegan leather to animal-based products.
  • A growing trend in the vegan leather market per industry experts is increased consumer awareness of the unethical treatment of animals in the leather industry, and it is a trend that is also "driving the growth of the vegan leather market."
  • "Vegan leather shoes – like those from Marks & Spencer, Stella McCartney, and Native Shoes – are dominating the cruelty-free fashion market, making up 73 percent of purchases."
  • Matt & Nat is a vegan brand that uses polyvinyl chloride, or PVC because of "its low price, and visual and tactile similarities to cow leather. The problem is that it’s what Greenpeace calls the “single most environmentally damaging of all plastics."
  • Italian brand Womsh makes vegan shoes that use synthetic plant-based leathers.
  • LaBante makes vegan handbags that also use synthetic plant-based leathers.

Proposed next steps:

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