Vegan Leather Market Will Be Worth $89 Billion By 2025

A new report says the vegan leather market will be worth $89.6 billion by 2025.

According to the study by Infinium Global Research, the vegan leather industry will have a compound annual growth rate of 49.9 percent from 2019 to 2025.

The report says the booming vegan leather market is driven by a range of factors. These include evolving consumer trends, a growing awareness about the environmental impact of traditional leather, and rising demand for animal-free products. 

Types Of Vegan Leather

There are a number of vegan leather alternatives on the market. Innovative companies are now creating leather from fruit, mushrooms, corn, and even coffee.

London-based Ananas Anam uses sustainably-sourced pineapple leaves to produce a natural leather called Piñatex. A number of brands—including H&M, Mercer Amsterdam, and Nature Footwear—use the material.

Earlier this year, H&M also used leather made from the byproducts of wine in its new Conscious Collection. The vegan leather alternative, created by Italian tech company Vegea, features on a number of H&M’s chain-strap handbags and several shoes.

Vegan Leather Brands

Infinium Global Research suggests the growing demand from the footwear sector will be a key factor propelling growth in the alternative leather industry moving forward.

A number of brands are now using vegan leather materials to create shoes.

Earlier this year, luxury label Balenciaga launched new vegan leather sneakers. Dubbed the Zen Sneaker, the shoes are made with 100 percent polyurethane. Balenciaga also offers Track Trainers, made from nylon and mesh.

Last fall, Stella McCartney and Adidas teamed up again to launch the newest version of their popular Stan Smith trainers. The duo released the first design in 2018.

The vegan leather shoes feature brightly colored rainbow laces and punched-out rainbow stars in lieu of the Adidas stripes. The tongue of one shoe includes a picture of tennis icon Stan Smith. The other shoe features an outline of Stella McCartney.

Last spring, Canadian shoe and accessories retailer Call It Spring committed to going 100 percent vegan. The brand’s Spring 2019 collection featured a budget-friendly range of animal-free leather shoes and bags.