BOSTON, May 6, 2021 /PRNewswire/ -- Dwindling demand
for cow-based products and growing interest in sustainability are
driving innovation in leather alternatives, and now is the time to
invest, according to new data from Lux Research, a leading provider
of tech-enabled research and innovation advisory services. The
$400 billion leather goods market is
already accepting of alternatives like pleather, on its own a
market in the mid-tens of billions of dollars, and with no
one-size-fits-all solution, there is ample opportunity to partner
or invest.
Lux's new report, "The Next Alternative: Leather," explores the
wide landscape of alternative leathers and makes predictions on the
timeline on which these materials could be seen on your next
handbag or shoe.
Lux classifies emerging alternative leathers into four
segments:
- Cell-Based/Cultured Leathers – Collagen-based leather
from yeast fermentation; bacterial cellulose; stem cell and tissue
engineering
- Mycelium-Based Leathers – Pressing mycelium (fibrous
root structure of mushrooms) into a mat; can alter growth
conditions to yield different qualities
- Byproduct-Based Leathers – Byproducts from the food
industry, e.g., grapes, pineapples, mangos, or fish; grown
feedstocks like cacti
- Other Leather Innovations – Miscellaneous leather
technologies, including CO2-derived, bio-based, and
recycled leather
"Cell-based leathers are high-risk but high-reward. After more
than 10 years, these technologies are still in the lab stage, with
companies optimizing their processes. They're most suitable for
high-end leather applications," explains Tiffany Hua, Senior Research Associate at Lux
Research and lead author of the report. "Byproduct-based leathers
are in introductory stages, but some companies are already
producing and selling leathers. They lack performance compared to
incumbent cow leather and can benefit from partnerships to improve
strength and durability."
When it comes to leather, consumer experience and marketing are
key to successful material adoption. However, with a growing eye on
sustainability, there is a need for alternatives that not only
deliver on performance but also have minimal impact on the
environment. "Low-complexity products like byproduct-based leathers
are likely to reach $1 billion in
sales by 2025. High-complexity products, including cell-based and
cultured leathers, likely won't reach $1
billion in sales by 2025 unless driven by significant
advancements in mycelium tech," Hua says. If these leathers can
reach scale and match the price of natural leather, they will
disrupt the leather industry.
With the growing importance of sustainability, there is a need
for leather materials that are sustainable but do not sacrifice
performance. Given that the space is relatively immature, there is
ample opportunity for companies to diversify their bets by
partnering with near-term players and investing in disruptive
longshots. Download the executive summary of Lux Research's new
report to learn more.
Press Contact:
Jessica Bonner
press@luxresearchinc.com
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SOURCE Lux Research