The Business Research Company’s Vegan Footwear Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, April 29, 2022 /EINPresswire.com/ — The growing demand for eco-friendly shoes is expected to propel the vegan footwear market growth. 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. For instance, in April 2021, Reebok, a USA-based athletic footwear and apparel company launched two new sustainable, vegan running and training shoes namely the Nano X1 Vegan and the Floatride Energy GROW. The shoes are created from eucalyptus bark, castor bean oil, bloom algae, natural rubber, and recycled polyester as part of the brand’s sustainability drive. According to the vegan footwear market forecast, the rising demand for eco-friendly shoes is driving the growth of the market.
The global vegan footwear market size is expected to grow from $22.48 billion in 2021 to $24.29 billion in 2022 at a compound annual growth rate (CAGR) of 8.08%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The vegan footwear market share is expected to reach $33.20 billion in 2026 at a CAGR of 8.12%.
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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.
Major players covered in the global vegan footwear industry are AVESU GMBH, Adidas, Beyond Skin, Bourgeois Boheme, Ethletic, Hexa Shoes, Matt & Nat, MooShoes, Nike, Noah, Rungg, Susi Studio, Sydney Brown LLC, Taylor + Thomas and Veerah.
TBRC’s global vegan footwear market report is segmented by product type into shoes, sneakers, boots, sandals, heels, others, by material type into microfiber, polyurethane (PU), cotton, natural rubber, hemp, others, by sales channel into direct, indirect, by distribution channel into supermarkets/hypermarkets, convenience stores, specialty stores, online stores, by end-user into men, women, children.
Vegan Footwear Global Market Report 2022 – By Product (Shoes, Sneakers, Boots, Sandals, Heels), By Material Type (Microfiber, Polyurethane (PU), Cotton, Natural Rubber, Hemp), By Sales Channel (Direct, Indirect), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores), By End User (Men, Women, Children) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a vegan footwear market overview, forecast vegan footwear market size and growth for the whole market, vegan footwear market segments, geographies, vegan footwear market trends, vegan footwear market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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