Breaking down the material innovation initiative report

The ChallengeWe are all aware of the environmental crisis due to the waste of waste, especially by industries, such as food and fashion. But while we can better understand the issue of food waste and adopt a correct behavior accordingly, the consumer is not yet fully educated and aware of the damage caused by the fashion industry, especially fast fashion. Well, it all starts with the raw material, with the materials. Materials of animal origin, in particular, have a huge impact on climate change, resource use, and environmental degradation, as well as public health, human rights, and animal welfare. Consumers and businesses alike are looking for sustainable alternatives that are functional, trendy, and affordable, but today's options are few and far between. In fact, in recent years, thanks also to the development of new technologies (3D Printing, VR, AI) we have been able to find alternatives to reduce this environmental impact. There has also been an accelerated development in finding new generation materials ("next-gen material) able to compete with traditional materials of animal origin. MII (Material Innovation Initiative) is the main activity that is currently working to find alternative solutions but valid in terms of cost sustainability and aesthetics. The Facts25% of the world’s carbon budget will be taken up by the fashion industry alone by 2050 if no changes are made55% of consumers want to purchase leather alternatives because of leather’s impact on animals and the environment90% of Gen Z consumers believe companies have a responsibility to address environmental and social issues4 billion land animals are slaughtered, plucked, or sheared every year for the materials industry (2021, Material Innovation)But MII believes that far more funding is still needed to accelerate innovation and support the ecosystem’s growth and impact on the predominantly animal-based material industry. (2021, Green Queen)Forecast

A new report predicts that the sustainable materials industry will become a $ 2.2 billion industry by 2026, following the alternative protein market. The "next-gen" material, a term for sustainable, high-performance alternatives to materials of animal origin, and a nascent industry. And this new market is expected to follow that of the explosive alternative protein industry. By 2026, next-generation materials are set to become a $ 2.2 billion market. But a new report from the Material Innovation Initiative (MII) says it will follow a similar trajectory to that of the explosive alternative protein industry. By 2026, next-generation materials are set to become a 2.2. billions of dollars.

MII's new overview of key players, driving forces, and the development of the next generation materials industry predict that while the industry is still in its infancy, the potential for disruption is enormous. According to their analysis, the size of the global wholesale market for next-generation materials is expected to reach $ 2.2 billion in 2026, accounting for 3% of the global materials market of more than $ 70 billion.