New study: Vegan Footwear market forecast to 2026 | Medtronic Plc., Nihon Kohden Corporation, Philips Healthcare etc.

Vegan Footwear Market

Vegan footwear refers to footwear that is made without any animal ingredients or by-products such as wool, leather, silk, fur, and more. It helps in controlling the negative impacts on the environment. Therefore, the production of vegan footwear contributes to the reduction of carbon footprint. Additionally, it has a high scope with regards to the fashion quotient which helps in attracting consumers. This has made leading brands invest in vegan footwear to make their designs more attractive and appealing.

The business of footwear is undergoing some significant transformation due to a paradigm shift towards sustainable production. Various key players are adopting several structural and policy changes to accommodate modern technologies of production that helps in curbing carbon footprint, protecting valuable ecosystems, and significantly reducing pollution. In addition to this, the vegan footwear market is backed by several leading names which are helping the market to gain attention from a majority of potential customers.
Furthermore, more companies coming up with the idea of reducing carbon footprint and using synthetic or natural materials to produce footwear is expected to boost the demand for vegan footwear. For instance, Kannabis Fashion, which derives its name from uses hemp as a key source for making canvas shoes. The number of companies in the market is anticipated to increase in the coming years which will further increase the demand for vegan footwear.

Replacing products such as fur, leather, etc with materials like recycled plastics and polyester, rubber, and others by leading manufacturers to meet the growing demand for eco-friendly footwear is helping to increase the sales of vegan footwear. The use of sustainable materials and manufacturing processes in footwear manufacturing is a remarkable strategic move by brands to retain their existing consumers as well as attract the new ones who are inclined towards the veganism trend. Furthermore, the rising awareness of animal rights among the population is also leading to an increased demand for vegan products which will further boost the growth of the vegan footwear market.

The veganism trend has become popular among the millennial in developed countries. To ensure the materials used in the making of vegan products are authentic, the government has laid down strict rules and regulations which comprise a lot of verification processes that may delay the whole process of product making. For instance, the British Retail Consortium (BRC), issued a new guideline in Feb 2020 which states ‘vegan’ declaration is a complex process as many product materials are derived from animals such as glue, dyes, and chemicals among others and therefore, the materials need to undergo the verification processes.

The shoe segment is foreseen to hold the largest market share in the global vegan footwear market, owing to the increasing vegan shoe trend getting popular among both men and women. These shoes are swiftly emerging as popular as well as sustainable choices for myriad reasons. In addition to this, vegan shoes, which are certified by international organizations, are guaranteed to not have contributed towards creating a carbon footprint which is why individuals are preferring it more.

The indirect sales channel is expected to register a significant share in the overall vegan footwear sales as compared to direct sales channels owing to various advantages provided by it. Currently, hypermarkets and supermarkets are expected to remain the most preferred sales channels, followed by multi-brand stores and specialty stores due to the easy convenience of buying options as well as the advantage of touching and feeling the product makes the consumers visit the stores. These stores allow multi-vendor presence, product comparison, low price offerings, etc so that the consumer can make an ideal choice. Furthermore, these channels comprise of the stores which are most preferred and visited by the consumers. According to the report shared by the India Brand Equity Foundation (IBEF), the revenue of India’s offline retailers, also known as brick and mortar (B&M) retailers which comprise supermarkets, hypermarkets as well as other stores, is expected to increase by 1.39 USD to 2.77 USD billion in the year 2020 which is projected to further increase in the coming years. Therefore, this sales channel will observe growth and drive the demand for vegan footwear.

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The Major Prominent Players Covered in this Report:
Medtronic Plc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Siemens Healthineers, Advanced Brain Monitoring, Masimo Corporation, NeuroWave Systems Inc., Resmed, Inc., NatusMedical Incorporated & More.

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

By Product
Device
Computerized Tomography (CT) Scanners
Magnetic Resonance Imaging (MRI) Scanners
Positron Emission Tomography (PET) Scanners
Electroencephalograph (EEG) Devices
Electromyography (EMG) Devices
Magnetoencephalography (MEG) Devices
Transcranial Doppler (TCD) Devices
Sleep Monitoring Devices
Intracranial Pressure (ICP) Monitors
Cerebral Oximeters
Accessories
Electrodes
Sensors
Caps
Pastes and Gels
Batteries

By Application
Parkinson’s Disease
Traumatic Brain Injury
Epilepsy
Dementia
Stroke
Other Applications

By End-User
Hospitals
Neurology Centers
Diagnostic Centers

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Vegan Footwear Market Trends:
- The report identifies, determines, and forecasts the Global Vegan Footwear Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Vegan Footwear Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Vegan Footwear Market.

Key Questions Answered in The Report:
What will the Vegan Footwear market growth rate?
What are the key factors driving the global Vegan Footwear market?
Who are the key manufacturers in the Vegan Footwear market space?
What are the market opportunities, market risk, and market overview of the Vegan Footwear market?
What are sales, revenue, and price analysis of top manufacturers of the Vegan Footwear market?
Who are the distributors, traders, and dealers of the Vegan Footwear market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Vegan Footwear Industry?
What are sales, revenue, and price analysis by regions of Vegan Footwear industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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