The increasing demand for environment friendly products worldwide is a major factor promoting the growth of the global vegan footwear market and further expected to continue doing so in the forecast period, 2020-2030. Vegan shoes are made without the use of any animal materials or byproducts. This may include synthetic fabrics, polyurethane (PU), or other products. The entry of shoe-makers into the vegan trend is anticipated to add impetus to the market for vegan footwear.
The report offers an elaborate overview of the global vegan footwear market with key emphasis on the factors boosting, repelling, and challenging the market. It also focuses on the current impact of the COVID-19 pandemic on the market and the possibility of any growth opportunity for this market in the coming years. Besides this, the report offers insights into the current innovations, recent trends, and other interesting information that will bode well for the players and other investors.
The global vegan footwear market is classified on the basis of product, sales, material, end user, and region. In terms of product, the market is categorized into shoes, boots, sneakers, heels, sandals, and others. The sales channel is further grouped into indirect and direct sales. Based on segmentation by material type, the market is grouped into microfiber, recycled plastics, polyurethane, and others.
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Vegan Footwear Market: Industrial Insights
Companies are investing in product designing and innovation to establish a strong foothold in the emerging markets. Simultaneously, they are reducing their carbon footprint which is helping them to lower operating costs. These steps adopted by the companies are improving their brand perception in the market. Some of the players functioning in the global vegan footwear market include Susi Studio, MooShoes, Hexa Vegan Shoes, Beyond Skin UK Adidas AG, Veerah, Nike Inc., Matt & Nat, Ethletic, AVESU SMBH, and others.
Vegan Footwear Market: Recent Innovations
The increasing demand for recycled commodities, and sustainable products have propelled footwear vendors to adopt vegan products as base for their new launches under the vegan section. This means the boycott of products such as fur and leather, and the use of eco-friendly products such as rubber, polyester, and others. This stands as a key factor promoting the growth of the global vegan footwear market during the forecast period. Additionally, the increasing demand for eco-friendly products and growing trend of veganism will also aid in expansion of the market in the long run.
The surge in demand for various fashion products via the e-commerce platform will also boost the overall growth of the market for vegan footwear. Online retailing will witness a promising growth during the forecast period on account of the growing awareness about environmental degradation, and increasing adoption of eco-friendly and recyclable products.
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Vegan Footwear Market: Regional Insights
On the basis of geography, the global market for vegan footwear is widespread into the regions of North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. These regions are further classified on the basis of nations. Currently, North America is holding the maximum share on account of the increasing popularity of veganism and a significant rise in the demand for vegan footwear in the United States. The market in Europe is on the second position but is expected to gain huge traction on account of the increasing demand from nations such as Germany, and the United Kingdom. Furthermore, the market in Asia Pacific will gain immense popularity and attract high revenues in the forecast period. This is accountable to the rising penetration of vegan trend into the developing nations such as China, India, and Japan.