Vegan Footwear Market Report By Type, By Material Type, By Sales Channel, By Distribution Channel, By End User And Global Forecast 2023-2032|AVESU GMBH, Adidas, Beyond Skin, Bourgeois Boheme, Ethletic

The Vegan Footwear Global Market Report 2023 by The Business Research Company, provides vegan footwear market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Vegan Footwear Global Market Report 2023, the market size is expected to grow from$24.48 billion in 2022 to $26.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of vegan footwear is expected to grow to $36.44 billion in 2027 at a CAGR of 8.2%.

The growing demand for eco-friendly shoes is expected to propel the growth of the vegan footwear market. Eco-friendly shoes are made out of materials that are harmless to the environment as they don’t pollute the air, water, or soil and decompose quickly after dumping.

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The vegan footwear market is segmented:

1) By Product Type: Shoes, Sneakers, Boots, Sandals, Heels, Other Product Types

2) By Material Type: Microfiber, Polyurethane (PU), Cotton, Natural Rubber, Hemp, Other Material Types

3) By Sales Channel: Direct, Indirect

4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores

5) By End User: Men, Women, Children

Technological advancements are a key trend gaining popularity in the vegan footwear market. Footwear companies are constantly focusing on developing new and advanced materials for manufacturing vegan footwear. For instance, in 2020, Adidas, a Germany-based designer, and producer of apparel, accessories, and sports equipment, developed a plant-based leather material which is made from mycelium, which is part of a fungus, for making shoes. Also, in 2020, the company produced 15 million pairs of shoes that were made from recycled plastic waste collected from beaches and coastal regions.

The vegan footwear market report table of contents includes: