Global Vegan Fashion Market to Reach US$ 835.7 Bn by 2030, Says Coherent Market Insights (CMI) – World News Report


/EIN News/ — 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
  • Global Vegan Fashion Market, By Price Point
  • Global Vegan Fashion Market, By Distribution Channel

    • Offline
      • Supermarket
      • Hypermarket
      • Specialty Stores
    • Online
  • Global Vegan Fashion Market, By Region:

    • North America
    • Europe
      • By Country:
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • South Korea
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa

Related Market Intelligence Reports:

Vegan Footwear Market, by Product Type (Shoes, Sandals, Heels, Flats, Sneakers), by Material Type (Microfiber, Polyurethane, Recycled Plastics, and Others), by End-use (Children, Male, and Female), by Distribution Channels (Offline [Supermarket and Hypermarket], Online, and Specialty Stores), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

Caribbean Duty Free Retailing Market, by Product Type (Fragrance & Cosmetics, Wines & Spirits, Fashion & Accessories, Tobacco, Watches & Jewelry, Confectionary & Fine Foods, and Gifts and Others) and by Sales Channel (Air Terminals, Ports, and Others) – Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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