NAPA - The search for next-gen materials to replace animal-based products in fashion, and other industries, will be worth US$2.2 billion a year by 2026, according to a new report from the Material Innovation Initiative (MII).
The non-profit, which seeks to fast-track innovation in plant-based and lab-grown products, says its 'State of the Industry' report heralds the emergence of a new industry.
It claims there are now 74 next gen materials companies - two-thirds of them seeking leather alternatives - and that 38 out of 40 leading fashion brands are actively seeking next gen materials.
