Vegan Footwear Market to Witness Growing Demand for Eco-Friendly Shoes Causing Increment in Sales over 2020-2030, Says Future Market Insights in New Study
DUBAI, United Arab Emirates / ACCESSWIRE / October 7, 2020 / Future Market Insights (FMI) in its latest market study on the vegan shoe market is expected to expand at a robust CAGR of 7.2% in the forecast period 2020-2030. Consumer preference for environmentally friendly products is a major seller for vegan shoes. This trend is likely to slow down in the coming years. Consumers in different regions are intentionally moving towards ethical fashion. This has led to a growing preference for cruelty-free fashion, and producers who benefit from the immense scope for growth are driving sales worldwide.
The COVID-19 outbreak has caused significant disruption in the supply chain, forcing brands to influence their online presence. According to FMI, growth will remain slow in the crisis. However, the market will soon recover as consumers become more vigilant in their choices in the post-COVID-19 era.
"With consumer preferences changing, the majority of companies are willing to focus on sustainability. Some of them are
likely to include more plant-based materials for making shoes to gain competitive advantage, "concludes an FMI analyst.
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Vegan shoe market - key takeaways
In terms of products, the shoe category is expected to remain dominant in the planned period, as the trend towards vegan shoes is becoming increasingly popular in both areas
Women and men.
The material type of the microfiber will acquire a considerable tensile force during the assessment period.
Both the end user and the end user will support the growth in the market.
In contrast to direct sales, which is mainly dominated by hypermarkets / supermarkets, the indirect sales channel remains the main beneficiary of global sales.
Mass / Economy explains the dominance based on the price range in the forecast period.
Vegan shoe market - key trends
The increasing use of sustainable materials in light of the increasing demand for a reduction in carbon footprint will drive the manufacture of vegan shoes worldwide.
Millennials create the most lucrative demographics for growing vegan shoe sales.
The diverse advantages of vegan footwear are proving to be strong pillars of market growth.
Certified by international organizations such as PETA, this will act as a catalyst for the growth of the vegan shoe market.
Vegan Shoe Market - Regional Analysis
Due to its high purchasing power, North America is likely to have lucrative growth prospects in the period 2020-2030, which is led above all by the USA.
Europe is expected to win on growing demand from Germany and the US due to the presence of well-known retail brands.
In the Asia-Pacific region, the demand for vegetable material has skyrocketed, which has increased the demand for vegan shoes in the region.
Vegan shoe market - competitive landscape
Important companies in the global market for vegan shoes are Susi Studio, Nike Inc., Adidas AG, Veerah, Matt & Nat, Hexa Vegan Shoes,
Beyond Skin UKamong, AVESU GMBH, Ethletic and MooShoes.
Prominent brands in the market take advantage of product launches, advertising, and promotions and are constantly improving their designs to stay relevant to the competition. The players active in the market therefore enter into strategic cooperations in order to achieve a competitive advantage. To ensure attributes and quality, they also focus on certifications from leading international organizations.
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Vegan Shoe Market - Market Segmentation
Mass / economy
Middle East and Africa
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Get valuable insights into the vegan shoe market
Future Market Insights offers an unbiased analysis of the global vegan shoe market with historical demand data and forecast statistics for the period from 2020 to 2030. The study gives convincing insights into the vegan shoe market and enables readers to obtain qualitative and quantitative information, which enable them to make informed market decisions in the coming forecast period.
Find out more about FMI's consumer product landscape
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About Future Market Insights (FMI)
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Source of the press release: https://www.futuremarketinsights.com/press-release/vegan-footwear-market
SOURCE: Future Market Insights
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