Vegan Footwear Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Vegan Footwear Market grew at a CAGR of 5.9% between 2017-2021 and is estimated to be US$ 1,27,465.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.3% and is expected to reach a valuation of US$ 2,34,814.3Mn by 2032 end.
A significant driver of the global vegan footwear market’s growth is the rising demand for environmentally friendly products, which is anticipated to continue over the projected period. Vegan footwear is produced without using any components or byproducts from animals. This might include polyurethane (PU), synthetic fabrics, etc. It is projected that the market for vegan footwear will gain momentum as shoe manufacturers join the vegan trend.
ChemView Consulting has analyzed that the vegan footwear business is mostly driven by the world’s constantly expanding vegan population. The Vegan Society claims that going vegan might reduce healthcare expenses, prevent climate damage, and lower greenhouse gas emissions. The world’s population is becoming more vegan due to an increased understanding of its advantages.
The polyurethane sector dominated 45.9% of the market. Due to considerations including ease of use and the abundance of polyurethane footwear on the market, the polyurethane sector held the largest market share.
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Segments Covered in Report
By Product Type:
- Shoes
- Sneakers
- Boots
- Sandals
- Heels
- Loafers
- Others
By Material Type:
- Microfiber
- Polyurethane (PU)
- Recycled Plastics
- Recycled Polyester
- Cotton
- Natural Rubber
- Hemp
- Others
By End-User:
- Men
- Women
- Kids
By Sales Channel:
- Direct
- Indirect
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Independent Stores
- Convenience Stores
- Online Retailers
- Other Sales Channel
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Vegan Footwear Market
- Based on the material type, the polyurethane sector dominated 45.9% of the market. Due to considerations including ease of use and the abundance of polyurethane footwear on the market, the polyurethane sector held the largest market share.
- Based on the sales channel, the segment of specialty stores held the largest share, with 62.9%. Due to their rising popularity in developed regions like North America and Europe, specialty stores had the biggest market share for vegan footwear.
- Based on the region, due to the rising popularity of veganism and the huge demand for vegan footwear in the United States, North America holds the largest market share at 36.7%.
Competition Summary
Key companies covered in the market study are LVMH, Nike, Adidas, Puma, Under Armour, Skechers, Tommy Hilfiger, Asics, VF Corp, and Columbia Sportswear Co
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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- Full-time research experts and subject matter experts
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