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Vegan Footwear Market Driven by Changing Patterns of the Fashion Industry by 2030 | Reports and Data

Reports And Data

Reports And Data

Eco-friendly products including vegan footwear, and rising number of brands offering vegan footwear are expected to drive global market revenue growth

The global vegan footwear market size was significantly robust in 2021 and is expected to register rapid revenue CAGR over the forecast period.”
— Reports and Data

NEW YORK, U.S, UNITED STATE, July 12, 2023/EINPresswire.com/ -- The vegan footwear market experienced strong growth in 2021 and is expected to continue to grow rapidly in the coming years. This growth is being driven by several factors, including the increasing popularity of veganism worldwide, changes in fashion trends, greater awareness of animal cruelty, a growing demand for sustainable and eco-friendly products, and a rise in the number of brands offering vegan footwear.

As people become more interested in sustainable living, the footwear industry is adapting to meet their needs. One of the most popular sustainable products in the industry today is vegan footwear, which is made from natural or synthetic materials that are cruelty-free and environmentally friendly. Unlike traditional footwear made from animal by-products like wool, fur, silk, leather, or shearling, vegan footwear is made without the use of any animal products. Most vegan leather is made from materials like polyurethane, microfiber, and recycled plastic. Despite being made from alternative materials, vegan footwear is fashionable, durable, flexible, comfortable, and of high quality, making it a great option for consumers looking for sustainable and cruelty-free footwear.

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Top Companies Operating in the Global Vegan Footwear Market Report:
• LVHM
• Nike
• Adidas
• Reebok
• AVESU GmbH
• Beyond Skin UK
• Taylor + Thomas
• Ethletic
• Allbirds
• Hexa Vegan Shoes
• Matt & Nat
• Sydney Brown, LLC
• MooShoes
• Susi Studio
• Veerah

Major Driving Factors and Restraints of Vegan Footwear Market

Driving Factors:

• Increasing consumer demand for sustainable and cruelty-free products: Consumers are becoming more aware of the environmental and ethical impacts of their purchasing decisions and are seeking out products that align with their values. Vegan footwear products, which are made without the use of animal products or byproducts, are seen as more sustainable and ethical than traditional footwear products.

• Growing awareness of animal welfare issues: The use of animal products in the fashion industry has come under increased scrutiny in recent years, with many consumers becoming aware of the cruel treatment of animals in the production of leather and other animal-based materials. This has led to a growing demand for vegan footwear products that do not contribute to animal suffering.

• Increasing availability and variety of vegan footwear products: As demand for vegan footwear products has grown, so too has the availability and variety of these products. Many fashion brands and retailers are now offering vegan options, and new vegan footwear brands are emerging to meet the growing demand.

Restraints:

• Limited Availability: Although the vegan footwear market has expanded, it still represents a smaller portion of the overall footwear industry. As a result, finding a wide range of vegan shoe options, especially in physical stores, can be challenging. This limited availability can deter some consumers from fully embracing vegan footwear.

• Higher Price Points: Vegan footwear often utilizes alternative materials such as plant-based or synthetic alternatives to leather, which can be more expensive to produce compared to traditional materials. As a result, vegan shoes tend to have higher price points, making them less accessible to price-conscious consumers.

• Limited Design Variety: While vegan footwear options have increased, they may still face limitations in terms of design variety. Vegan materials may have certain limitations in terms of texture, color, and durability, which can restrict the creativity and variety of designs available in the market.

• Brand Recognition and Trust: The vegan footwear market is relatively new compared to the traditional footwear industry. Many consumers are loyal to well-established footwear brands with a long history and proven track record. Building brand recognition, trust, and credibility in the vegan footwear market can take time and effort for newer companies.

Key Regional Markets Covered in the Report:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Further market segmentation

Product Type Outlook (Revenue, USD Billion; 2019-2030)
• Shoes
• Sneakers
• Boots
• Sandals
• Heels
• Loafers
• Others

Material Outlook (Revenue, USD Billion; 2019-2030)
• Microfiber
• Polyurethane
• Cotton
• Natural Rubber
• Hemp
• Recycled Plastics
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores

End Use Outlook (Revenue, USD Billion; 2019-2030)
• Men
• Women
• Children

Key Takeaways of the Global Vegan Footwear Market Report:
• A comprehensive overview of the global Vegan Footwear industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the global Vegan Footwear market.
• Elaborate study of the leading regional markets in the global Vegan Footwear market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.

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