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Cell-Cultured Leather Market is expected to reach US$ 8.15 million by 2030

The Global Cell-Cultured Leather Market size is projected to grow at a CAGR of 9.1% during 2022-2030, to surpass US$ 8.15 Million by 2030, from US$ 4.05 million in 2022.

By The Insight Partners

Rising Demand for Sustainable and Cruelty-Free Leather to Bolster Cell-Cultured Leather Market Growth

According to our latest study on “Cell-Cultured Leather Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Application,” the cell-cultured leather market size was valued at US$ 4.05 million in 2022 and is expected to reach US$ 8.15 million by 2030; it is estimated to register a CAGR of 9.1% from 2022 to 2030. The report highlights key factors driving the cell-cultured leather market growth and prominent players along with their developments in the market.

The cell-cultured leather is used in applications such as automotive, footwear, luggage and bags, apparel, and others. Cell-cultured leather witnesses significant demand from all these applications due to its beneficial properties such as durability, strength, less environmental footprints, and other factors. The production of cell-cultured leather also does not require the slaughter of animals. Moreover, many companies are moving away from synthetic materials to make their leather fully compostable and biodegradable. With this, the demand for cell-cultured leather is increasing and is expected to grow further in the coming years. Further, the global cell cultured leather market is highly competitive. There are very few manufacturers available in the market. Players compete with each other based on product differentiation, quality, and price. Modern Meadow customizes and provides designers with the specific qualities of leather that they would require. Customizable leather results in less leather being wasted in producing products like handbags and wallets. Furthermore, market players are adopting different strategies, such as investments in research and development activities and partnerships, to stand out as strong competitors in the market. For instance, in 2022, VitroLabs Inc, announced that it has closed Series A financing to build and scale pilot production. The funding is led by Agronomics; other investors include BESTSELLER’s Invest FWD, global luxury group Kering, Khosla Ventures, actor and environmentalist Leonardo DiCaprio, New Agrarian, and Regeneration.VC.Modern Meadow is also working with more than one hundred and fifty companies from various industries, such as fashion, automotive, and others. The company is also partnering with a biochemical company to brew the yeast at an industrial scale.

Cell-Cultured Leather Market Breakdown – by Region

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00030205

A lot of concern has been raised about animal cruelty and the environmentally harmful effects associated with leather tanning and production. Several livestock animals are slaughtered in order to obtain leather through conventional methods. Moreover, raising these animals requires a lot of resources in terms of land and water. Cattle rearing is responsible for a significant percentage of global greenhouse gas emissions every year. As a result of the rising ethical and environmental concerns about traditional leather manufacturing, the need for alternatives, such as cell-cultured leather, is increasing. According to the study by the Material Innovation Initiative (MII) in collaboration with the North Mountain Consulting Group about the US consumer perception around cruelty-free leather, nearly 55% of those surveyed preferred leather alternatives over animal leather, and nearly 73% of this category said that they would not mind trying a lab-grown cell-based alternative.

A few key players operating in the cell-cultured leather market are VitroLabs Inc, MODERN MEADOW, and Qorium. Players operating in the market focus on research and development activities to produce high-quality products to fulfill customer demand from various application industries.

Impact of COVID-19 Pandemic on Cell-Cultured Leather Market

The COVID-19 pandemic has adversely altered the status of the chemicals & materials sector and negatively affected the cell-cultured leather market growth. The implementation of measures to combat the spread of SARS-CoV-2 has aggravated the situation and negatively impacted the growth of various industries. As a result, there was a sudden distortion in operational efficiencies and disruptions in the value chains; many industries faced several challenges owing to the shutdown of national and international boundaries. The COVID-19 pandemic has negatively impacted the growth of various industries, such as automotive, footwear, and apparel in different countries, thereby hampering the cell-cultured leather market growth. However, several companies operating in the manufacturing industries revived their businesses owing to the ease of restrictions. Hence, the demand for cell-cultured leather is rising across the globe, especially among the automotive, footwear, and apparel industries.

The report includes the segmentation of the cell-cultured leather market as follows:

The global cell-cultured leather market is bifurcated on the basis of application and geography. Based on application, the cell-cultured leather market is segmented into automotive, footwear, luggage and bags, apparel, and others. By geography, the cell-cultured leather market is segmented into North America, Europe, Asia Pacific, and Rest of the world.

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