Coupled with rapid development, the microfiber leather industry at home has emerged structural overcapacity,shortage of high-end product and technology, as well as weak market demand globally and stricter environment-protection requirements. In this circumstance, it is urgent to optimize the product structure for microfiber leather industry. Based on both market and technology, this article discussed the status-quo and developing trend of microfiber leather industry, expecting that the domestic enterprises can absorb the advanced technology and notion and furthermore, make a re-innovation in accordance with the practical situations.