Bio-Based Leather Market Size Projections Exhibit a CAGR of 6%, Likely to Attain a Value of USD 1164.05 Million by 2033 [Yahoo! Finance]
TORAY INDUS INC UNSP/ADR (TRYIY)
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Source: Yahoo! Finance
The market will experience rapid growth due to technological advancements in bio-based leather during the forecast period. Newark, April 23, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 650 million in 2023 global bio-based leather market will reach USD 1164.05 million in 2033. Vegan or plant-based leather are other names for bio-based leather. It is cruelty-free and sustainable as an alternative to conventional leather obtained from animals. Bio-based leather is made from sustainable plant materials, including apple peels, pineapple leaves, cork, mushrooms and agricultural waste like soybeans or maize husks. Fibres from these plant sources are usually extracted and then processed into a suitable material to create bio-based leather. Because bio-based leather uses less energy and water and produces less pollution, it mitigates the environmental effects of traditional leather production. Because bio-based leather provides an alternative free from animal cruelty,
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