Burlingame, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The global vegan fashion market was valued at US$ 451.7 Bn in 2021 to US$ 835.7 by 2030 and is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Vegan Fashion Market:
During the forecast period, increasing demand for vegan products in the market such as footwear, clothing, cosmetics, and others can emerging economies is expected to drive the global vegan fashion market growth. Rising demand for vegan products and its various benefits to the hair and skin such as chemical-free and environmental friendly can helps to propel the vegan fashion market growth.
Due to the wide variety of product types, vegan fashion has seen essential growth in the global vegan fashion market during the forecast period. Vegan fashion manufacturing companies are continuously incorporating vegan products in a variety of cosmetics, footwear, clothing, and others can help to boost the sales of vegan products in the coming years.
The increasing number of new startups offering vegan fashion products and the expansion of the vegan industry will further drive the global vegan fashion market growth in the upcoming years For instance, in August 2022, a plant-based skin and hair care brand, ‘OrgaGlo’ has joined India's personal care and cosmetic industry with 18 different products, the products are categorized under baby care, hair care, face care, and body care. These vegan and animal cruelty-free products can help OrgaGlo to increase the sale of vegan cosmetics in the Indian Market.
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Key Market Takeaways
The global vegan fashion market is expected to exhibit a CAGR of 7.1% over the forecast period (2022-2030). In China, the vegan fashion market is anticipated to expand at a robust pace over the next ten years, due to the increasing number of plant-based alternative startups such as Good Catch and rising consumer demand for natural products.
Competitive Landscape:
Major players operating in the global vegan fashion market include SUSI Studio, Insecta Shoes Canada Inc., ROMBAUT, In The Soulshine, Della La LLC, Reformation, Alabama Chanin, Wawwa, Doshi FCSA, Hiareth Collective, Komodo Fashion, Brave Gentle Man, ECOALF, Rapanui, and Tact & Stone.
Major players are using different strategies such as mergers, acquisitions, and capacity expansion, owing to rising demand for globl vegan fashion market. For instance, in March 2021, a vegan cosmetic manufacturing brand, ‘Artistry’ launched a new skincare product such as compact that is powered by innovative technology skin science, and vegan phytonutrients with good ingredients and develop the product for healthy beauty.
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Market Segmentation:
- Global Vegan Fashion Market, By Product Type
- Footwear
- Accessories
- Clothing
- Others
- Global Vegan Fashion Market, By Gender
- Men
- Women
- Global Vegan Fashion Market, By Price Point
- Premium
- Economic
- Global Vegan Fashion Market, By Distribution Channel
- Offline
- Supermarket
- Hypermarket
- Specialty Stores
- Online
- Offline
- Global Vegan Fashion Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Sub-region:
- Middle East
- Africa
- By Sub-region:
- North America
Related Market Intelligence Reports:
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