Biomaterials are a new category of materials derived from sources such as cactus, bamboo, pineapples, olives, and more which serve as alternatives to animal skins, meaning no new "virgin" animal leather was used. These animals need a ton of land and water (for themselves and to grow their food). Numbers are contested, but 1 cow typically drinks more water than a backyard pool in it's lifetime.
These alternatives are some next-gen stuff. They're durable, strong, flexible, light and breathable. They can do most the things regular leather can do, but have been around for less time, so no one can say they'll wear like your grandmother's bag. It's vegan, but not bio-degradable - varying levels of petroleum-based materials are added to make them behave more like traditional leather. Btw, using more of these plants is great for the areas which grow them by creating additional, and more diversified, income for farmers to help create jobs, typically in rural communities.