Pinatex Market Size & Share, by Colour (Charcoal, Natural, Brown, Gold, Silver); Application (Footwear, Automotive Upholstery, Furniture Upholstery, Bags, Belts, Personal Accessories); End-Use (Consumer Products, Automotive, Textile) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5508
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Pinatex Market size is expected to cross USD 165 Million by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of pinatex was over USD 69 Million. The growth of the market is due to partnerships with top fashion labels that present Pinatex with business potential. Businesses that work with Pinatex can reach a growing market of customers looking for fashionable and eco-friendly products. According to survey, 71% of consumers say they like co-branding collaborations.

In addition, it is anticipated that growing environmental concerns will drive the pinatex market's growth in the next years. The process of tanning and pre-tanning exposes the environment to several contaminants, including hydrogen sulfide, lime, and chrome sludge. There is no need to utilize hazardous substances, chemicals, or heavy metals to produce pineapple leather.


Pinatex Market
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Pinatex Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 7%

Base Year Market Size (2023)

 ~ USD 69 Million

Forecast Year Market Size (2036)

 ~ USD 165 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Pinatex Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Increased Need for Eco-Friendly Leather Substitutes- One of the commodities that is traded the most globally is leather. Sustainable leather substitutes are made from plants. In the 1990s, Pinatex was developed in the Philippines. It is promoted as a morally and environmentally responsible substitute for leather. Animals are not harmed during the creation of pinatex, nor does it require more resources. Therefore, the growing demand for eco-friendly leather substitutes is probably going to fuel the market expansion shortly. Pinatex leather has several useful advantages over traditional leather in addition to its ethical and environmental benefits. It is more suited for use in hotter regions or for clothing that is worn near the skin because it is lighter and more breathable than leather. In addition to not fading or cracking over time, pinatex is also simpler to clean and maintain than leather. To lessen their impact on the environment, 57% of respondents to a survey done in the United Kingdom said they have changed their lifestyle.
  • An Increase in Demand for Vegan and Cruelty-Free Goods- Products made from plants are becoming more and more popular. Using animal materials like glue, leather, wool, or fur is prohibited by veganism. Vegan leather goods that are cruelty-free and sustainable are becoming more popular. Therefore, it is anticipated that the market will grow shortly due to the rise in the vegan population and the increase in demand for packaged vegan food.
  • Pinatex's More Affordable Price than Original Leather- The consumer products industry's growth has increased demand for dependable and more affordable leather substitutes. While pinatex is more expensive than imitation leather, it is less expensive than real animal leather. The fiber from leftover pineapple plant leaves, a by-product of the current pineapple harvest, is used to make pinatex leather. It can be applied to the design of apparel and other goods.

Challenges

  • Negative Impact of COVID-19- The period following the pandemic will be crucial for the market. Product prices and market dynamics may be impacted by manufacturing processes, which could hinder the recovery process. The worldwide market may also encounter difficulties as a result of unfavorable financial circumstances and growing costs brought on by production stops and quarantine restrictions. Limitations in other end-user industries, suppliers, vendors, labor shortages, and limited production or support operations might also keep customers from acquiring what they desire. Reviving the global synthetic leather sector will be challenging overall.
  • The market is still dominated by conventional materials like leather and synthetic textiles. It can be difficult to persuade customers to convert to Pinatex.
  • The manufacturing of pinatex depends on a consistent supply of pineapple leaves. Diseases, the environment, or other agricultural problems may cause this supply chain to break down.


Pinatex Segmentation

Application (Footwear, Automotive Upholstery, Furniture Upholstery, Bags, Belts, Personal Accessories)

The footwear application segment is expected to hold 35% share of the global pinatex market by 2036. The younger generation's changing shopping habits have increased demand for footwear that is cruelty-free or ecologically friendly. Thus, in response to consumer requests, prominent shoemakers are now selling vegan footwear. Footwear in the context of the Pinatex Fiber market refers to the incorporation of Pinatex into the manufacturing of several shoe categories, such as sandals, footwear, and sneakers. This material's strength, portability, and environmental consciousness make it a great choice for this application. Trend-wise, there's a growing tendency in the fashion industry that emphasize cruelty-free and sustainable shoe solutions, which makes Pinatex a desirable option for producers and consumers who care about the environment. In the footwear market, 1.82 pairs are anticipated to be sold on average per person in 2023. Furthermore, by 2023, Non-Luxury will account for 93% of footwear sales.

Colour (Charcoal, Natural, Brown, Gold, Silver)

The charcoal segment in the pinatex market is attributed to hold the largest share of about 40% during the forecast period. Charcoal is frequently produced using environmentally friendly dying techniques. The hue is a popular choice for a variety of fashion and interior applications since it represents sophistication and adaptability. Charcoal Pinatex is becoming more and more popular in luxury fashion and eco-friendly home décor, providing consumers who care about the environment with a stylish yet subtle option.

Our in-depth analysis of the global market includes the following segments:

Colour

  • Charcoal
  • Natural
  • Brown
  • Gold
  • Silver

Application

  • Footwear
  • Automotive Upholstery
  • Furniture Upholstery
  • Bags
  • Belts
  • Personal Accessories

End-Use

  • Consumer Products
  • Automotive
  • Textile

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Pinatex Industry - Regional Synopsis

European Market Forecast

The pinatex market in Europe is anticipated to hold a 30% revenue share during the projected period. The region's market statistics are being driven by the rising vegan population and sustainability awareness. Consumers in Europe are searching for more environmentally friendly substitutes for conventional goods like leather as they grow more conscious of how their purchases affect the environment. Pinatex is thought to be a vegan substitute for leather. It is made without the use of any toxic chemicals and doesn't contain any animal products. As of 2023, there are projected to be 6.62 million vegans in the designated area of the EU. This figure is expected to increase to approximately 8.25 million.

North American Market Statistics

Pinatex market in the North America region is projected to hold second second-largest market share of about 27% during the projected period.  Mexico, Canada, and the United States make up North America. An increasing need for sustainable and environmentally mindful products is the general trend here. Pinatex is a popular option in the region because consumers in this area are actively looking for alternatives to conventional materials. To appeal to the increasingly ecologically conscious consumer base, businesses are incorporating Pinatex into their product lines, especially in the areas of fashion and accessories. Partnerships with Pinatex suppliers, ethical branding, and sustainability activities are all growing.

Research Nester
Pinatex Market size
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Companies Dominating the Pinatex Landscape

top-features-companies
    • Ananas Anam
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Marici
    • Wuxi JoyDay Silkroad E-Cloud Textile Co., Ltd.
    • TMX International
    • Natural Fiber Welding
    • Ananas Export Company
    • VEGEA
    • H&M
    • Hugo Boss
    • Paul Smith

In-the-news

In The News

  • Ananas Anam collaborated with ZARA, a fashion company. Under the collaboration, Zara’s range of sneakers, sandals, and accessories would be made from Pinatex. Ananas Anam is convinced that “anything can be achieved as long as all actors in the fashion industry work together towards the same goal.” By providing what it claims to be the most sustainable plant-based alternative to leather commercially available at scale, PIÑATEX® is in an optimum position to partner with ZARA and other fashion brands to increase the plant–based componentry in their products and enhance overall sustainability.
  • Marici, a plant-based luxury accessory brand, launched exclusively in Selfridges as part of its ‘Project Earth’ luxury designer edit. With this, Marici became the only brand within Selfridges luxury edit using Pinatex. This year’s Summer Solstice sees the revolutionary brand MARICI launch exclusively into Selfridges as part of their ‘Project Earth’ luxury designer edit on the 8th of July. Inspired by the ideas of re-birth and evolution, paving the way forward with their trailblazing ethics and timeless aesthetics.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5508
  • Published Date: Jan 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing environment concerns, ecofriendly leather substitutes and demand for vegan & cruelty free food are the major factors driving the growth of the pinatex market.

The market size of pinatex is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024 – 2036.

The major players in the market are Marici, Wuxi JoyDay Silkroad E-Cloud Textile Co., Ltd., TMX International, Natural Fiber Welding, Ananas Export Company, VEGEA, H&M, Hugo Boss, Paul Smith, and others.

The footwear segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Europe region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Pinatex Market Report Scope
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