The global vegan footwear market was valued at $157,898.2 million in 2020, and is projected to reach $300,199.6 million by 2030, registering a CAGR of 6.8% from 2021 to 2030.
The vegan footwear market is primarily driven by the factors such as rising government initiatives to counter global warming issues, rising awareness regarding the ill-effects of plastic wastes accumulation, technological developments in the footwear industry, development of microfiber as a leather substitute, rising demand for the eco-friendly products among the consumers.
The rising disposable income, rising consumer awareness regarding animal rights, and growing demand for high-end footwear products among millennials are fueling the demand for the vegan footwear across the globe. The development of microfiber leather as a substitute for the original leather is providing significant growth opportunities to the market players. The microfibers leather is as strong and durable as leather, and it also gives the feel of original leather to the users. Hence, the microfiber leather is expected to drive the demand for the vegan footwear all over the globe. However, the demand for leather is significant in the global footwear market owing to its elegance and aesthetics. People perceive leather as a luxury, therefore, substitute for leather have very little chances to completely substitute leather. This may hinder the growth of the vegan footwear market.
The vegan footwear market is expected to grow considerably owing to the rising employment. Further, the rising participation of women in the corporates may foster the demand for the vegan footwear due to the growing demand for trendy and designer footwear among the women. Materials like polyurethane provides durable and light-weight features along with the scope of conveniently designing the footwear products as desired. Polyurethane is a eco-friendly plastic that is increasing being used in the footwear industry owing to its durability and affordability features. Hence, the rapid growth in the usage of polyurethane is expected to foster the vegan footwear market growth during the forecast period.
According to the global vegan footwear market analysis, the market is segmented on the basis of end user, material type, and distribution channel. On the basis of end user, the market is segregated into men, women, and children. On the basis of material type, it is classified into microfiber, polyurethane, recycled plastics, and others. On the basis of distribution channel, the vegan footwear market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and others.
On the basis of region, the vegan footwear market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Players operating in the vegan footwear market have used a variety of developmental strategies to expand their market share, exploit the vegan footwear market opportunities, and boost market profitability. The key players profiled in this report include Nike, Adidas, AVESU GmbH, Beyond Skin UK, Ethletic, Hexa Vegan Shoes, Matt & Nat, MooShoes, Susi Studio, and Veerah.
The vegan footwear market is primarily driven by the factors such as rising government initiatives to counter global warming issues, rising awareness regarding the ill-effects of plastic wastes accumulation, technological developments in the footwear industry, development of microfiber as a leather substitute, rising demand for the eco-friendly products among the consumers.
The rising disposable income, rising consumer awareness regarding animal rights, and growing demand for high-end footwear products among millennials are fueling the demand for the vegan footwear across the globe. The development of microfiber leather as a substitute for the original leather is providing significant growth opportunities to the market players. The microfibers leather is as strong and durable as leather, and it also gives the feel of original leather to the users. Hence, the microfiber leather is expected to drive the demand for the vegan footwear all over the globe. However, the demand for leather is significant in the global footwear market owing to its elegance and aesthetics. People perceive leather as a luxury, therefore, substitute for leather have very little chances to completely substitute leather. This may hinder the growth of the vegan footwear market.
The vegan footwear market is expected to grow considerably owing to the rising employment. Further, the rising participation of women in the corporates may foster the demand for the vegan footwear due to the growing demand for trendy and designer footwear among the women. Materials like polyurethane provides durable and light-weight features along with the scope of conveniently designing the footwear products as desired. Polyurethane is a eco-friendly plastic that is increasing being used in the footwear industry owing to its durability and affordability features. Hence, the rapid growth in the usage of polyurethane is expected to foster the vegan footwear market growth during the forecast period.
According to the global vegan footwear market analysis, the market is segmented on the basis of end user, material type, and distribution channel. On the basis of end user, the market is segregated into men, women, and children. On the basis of material type, it is classified into microfiber, polyurethane, recycled plastics, and others. On the basis of distribution channel, the vegan footwear market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and others.
On the basis of region, the vegan footwear market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Players operating in the vegan footwear market have used a variety of developmental strategies to expand their market share, exploit the vegan footwear market opportunities, and boost market profitability. The key players profiled in this report include Nike, Adidas, AVESU GmbH, Beyond Skin UK, Ethletic, Hexa Vegan Shoes, Matt & Nat, MooShoes, Susi Studio, and Veerah.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the vegan footwear industry.
KEY MARKET SEGMENTS
By End User
- Men
- Women
- Children
By Material Type
- Microfiber
- Polyurethane
- Recycled Plastics
- Others
- By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- E-Commerce
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: VEGAN FOOTWEAR MARKET, BY END USER
CHAPTER 5: VEGAN FOOTWEAR MARKET, BY MATERIAL TYPE
CHAPTER 6: VEGAN FOOTWEAR MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: VEGAN FOOTWEAR MARKET, BY REGION
CHAPTER 8: COMPETITION LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Nike
- Adidas
- AVESU GmbH
- Beyond Skin UK
- Ethletic
- Hexa Vegan Shoes
- Matt & Nat
- MooShoes
- Susi Studio and Veerah
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 283 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 157898.2 million |
| Forecasted Market Value ( USD | $ 300199.6 million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
