Resilience, Relationships, and Realities: Charting the Future of Biomaterials

As 2024 drew to a close, the biomaterials sector found itself at a crossroads. A year defined by moments of triumph and turbulence, 2024 underscored both the promise and the complexities of building a more sustainable future through bioinnovation. From high-profile launches to sobering startup failures, the lessons illuminate a path forward rooted in resilience, collaboration, and a commitment to transparency. We gathered a group of industry leaders to dissect the year that was and look ahead to what 2025 may hold.

Kering Panel featuring Geraldine Vallejo, Sustainability Program Director (Kering), Jean-Marie Gigante, Director of Tannery, (Kering), and Maurizio Montalti, Co-Founder & Chief Mycelium Officer, (SQIM) at the BIOFABRICATE Paris Summit 2024
©BIOFABRICATE™ (photo credit: Robert Leslie)

Key Takeaways

Resilience Fuels Progress: Despite economic pressures and setbacks, the biomaterials industry remains steadfast in driving sustainable innovation.
Collaboration is Key: Long-term, transparent partnerships between stakeholders are essential for overcoming challenges and scaling new technologies.
Failures as Foundations: Learning from setbacks strengthens the industry’s collective knowledge and guides future strategies.
Luxury Leads the Way: High-end brands are crucial allies, and integrating biomaterials into their offerings will continue to help drive broader market adoption.
Performance, Price and Patience: Prioritizing performance, price and realistic scaling timelines will ensure lasting impact and growth.

Reflections on 2024: Growth in a Challenging Climate

The year began with optimism and concluded with hard-won insights. While some companies faced setbacks, the industry also celebrated milestones, including significant investments and notable launches. The Biofabricate Summit in Paris became a focal point for the community, offering a vital space to exchange ideas, benchmark progress, and foster connections among brands, innovators, and investors.

“Innovation in biomaterials is not for sensitive souls or weak hearts,” said Stefano Babbini of SQIM. This sentiment resonated throughout the sector as companies grappled with economic pressures, geopolitical uncertainty, and the inherent challenges of scaling cutting-edge technologies. Despite these headwinds, the biomaterials space continued to push forward, buoyed by a shared sense of purpose.

Key Trends:

Resilience Through Collaboration
As Michael Newton of Qorium rightly pointed out - success in biomaterials requires a village. Stakeholders emphasized the importance of long-term partnerships built on trust and transparency. Honest conversations about capabilities, challenges, and opportunities foster an environment where innovation can thrive.
Learning from Failures
Startups’ struggles are not setbacks but stepping stones. Every failure adds to the industry’s collective knowledge, providing critical insights to inform future strategies and refine business models.
Market Dynamics:
Mary McCarthy, of Sofinnova Partners, spoke to the fact that the current economic environment, characterized by geopolitical tensions and market downturns, has undoubtedly impacted investment in biomaterials. Companies must adapt to these conditions and demonstrate resilience by focusing on solidifying their business models and maintaining investor confidence.
Luxury as a Catalyst
The luxury sector continued to be a steadfast ally of biomaterials, with Anne-Gaëlle Lamort speaking to groups like Kering being unwavering in their commitments. When leveraged effectively, luxury brands can use their market influence to champion sustainability. Brands like GANNI and Stella McCartney brought biomaterials to the runway, while others, including Balenciaga, Burberry, and Outerknown, launched them in-store, further setting a standard for broader adoption.
Patience in Scaling
Entrepreneurs must prioritize product-market fit over the pressure to scale quickly. Premature scaling can lead to inefficiencies and wasted resources, hindering long-term success.
Focus on Transparency
Transparent communication remains paramount. It builds trust with investors, partners, and consumers, ensuring that innovations align with market realities and sustainability goals.

Detail of SQIM’s ephea™ suede-like material

Looking Ahead to 2025

The biomaterial sector’s potential is boundless, but realizing this promise requires an ecosystem approach. Strengthening the industry’s foundation through collaboration, prudent scaling, and sustained investment will be essential.

Broadening Market Penetration:
It’s been said before, but transitioning from niche capsule collections to mainstream adoption is essential to amplify the impact of biomaterials and expand market reach.
Securing Non-Dilutive Funding:
For early-stage companies, leveraging grants, awards and tax breaks provides a more patient runway for innovation with the added benefit of delayed equity dilution from VCs.
Commitment to Sustainability:
Luxury’s leadership in sustainability must inspire other sectors, offering a roadmap for integrating biomaterials into diverse industries. By leveraging their financial muscle and commitment to innovation, luxury brands demonstrate how collaboration, consumer education, and investment in R&D can accelerate adoption across broader markets.
Building Genuine Relationships:
Strong, authentic partnerships between brands, innovators, and investors will drive meaningful progress, creating a robust ecosystem for growth.

Conclusion: A Resilient Future

The biomaterials industry is at an inflexion point. While 2024 was marked by challenges, it also demonstrated the sector’s resilience and potential for transformative impact. By embracing the lessons of last year, fostering collaboration, and remaining steadfast in the pursuit of sustainability, the biomaterials community is well-positioned to navigate the complexities of 2025 and beyond.

The journey of bioinnovation is neither linear nor easy, but as long as the industry continues to unite around shared goals, the promise of a sustainable materials revolution will become ever more tangible.

Watch the webinar here

Contributors:

Anne-Gaelle LAMORT, Sustainability Innovation Lead, Kering

Mary McCarthy, Partner, Sofinnova Partners

Michael Newton, CEO, Qorium

Stefano Babbini, CEO, SQIM

Moderator:

Suzanne Lee, Founder & CEO, BIOFABRICATE

2024: A Year in Review