Vegan Leather Industry to Reach $85 Billion by 2025

New research conducted by business consulting firm Grand View Research (GVR) found that the faux leather industry will be worth $85.05 billion by 2025. GVR revealed that China, India, Brazil, Malaysia, Thailand, and Vietnam will drive the demand for animal-free leather due to rising interest for affordable footwear in those countries. “As textile technology is evolving,” the report states, “consumers are preferring vegan fashion, which refers to adopting non-leather products.” GVR identifies polyurethane as the fastest growing material in the sector due to its durability, low cost of production, and water-resistant qualities. In recent years, car manufactures such as Tesla and Ferrari have developed vegan interiors due to customer demand for cruelty-free options, and companies such as Piñatex—which creates faux leather materials from pineapples—have created innovative alternatives to animal hides.