Press release
Future of the Vegan Footwear Market: Trends, Innovations, and Key Forecasts Through 2034
Vegan Footwear Market Size
Vegan Footwear Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the vegan footwear market has witnessed substantial growth. The market size, which is anticipated to be $29.42 billion in 2024, is projected to reach $32.24 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.6%. The notable growth observed in the past can be credited to ethical consumer behavior, concerns over animal welfare, heightened environmental awareness, the shift towards sustainable fashion trends, and support from the fashion industry.
Vegan Footwear Market Size Forecast: What's the Projected Valuation by 2029?
The market size for vegan footwear is anticipated to experience robust growth in the approaching years, expanding to a worth of $45.57 billion by 2029, through a compound annual growth rate of 9.0%. The growth forecasted in this period is a result of the worldwide spread of veganism, sustainability objectives in the fashion industry, a greater focus on corporate social responsibility, and improved availability and choice driven by consumer enlightenment and education. Foreseen trends within this forecast period include advancements in vegan materials, industry collaborations and partnerships, the use of recycled and upcycled materials, the rise of online platforms and direct-to-consumer models, as well as celebrity endorsements.
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What Are the Drivers Transforming the Vegan Footwear Market?
The surge in interest for environmentally friendly footwear is anticipated to boost the expansion of the vegan shoe market. These sustainable shoes, besides being stylish, are constructed with minimal environmental harm throughout their life from the gathering of materials to its production, usage, and eventual disposal. Vegan shoes significantly contribute to this eco-conscious movement by using recycled materials such as plastic, cork, or algae, thus curbing the need for new resources. As per statics from Runrepeate, in October 2023, the US sustainable shoe industry is set to grow by 6.8%, reaching a value of $9.4 billion in 2023, with expectations set at $13.3 billion by 2030. Interestingly, about 62.7% of all sustainable footwear will not be athletic. Consequently, the escalating popularity of eco-friendly shoes is fueling the expansion of the vegan shoe industry.
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What Long-Term Trends Will Define the Future of the Vegan Footwear Market?
Prominent entities in the vegan footwear market concentrate on crafting collections of vegan shoes that use cruelty-free resources like synthetic materials to offer sustainable style and secure an edge over competitors. Synthetics, artificial materials made via chemical processes that are specifically engineered to echo or replace organic substances, are predominantly used. For example, Adidas, an apparel company out of Germany, unveiled its EQT93 Plant and Grow sandal line in June 2023. This vegan shoe range displays a color palette influenced by nature and a speckled rubber sole that replicates the texture of soil, employing synthetic substances for its upper. This showcases Adidas' steadfast dedication towards offering cruelty-free options. Taking its cue from community gardening initiatives, the design underscores Adidas' focus on sustainable and ethical practices.
Which Segments in the Vegan Footwear Market Offer the Most Profit Potential?
The vegan footwear market covered in this report 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: Super markets Or Hyper markets, Convenience Stores, Specialty Stores, Online Stores
5) By End User: Men, Women, Children
Subsegments:
1) By Shoes: Loafers, Oxfords, Ballet Flats, Casual Shoes
2) By Sneakers: Athletic Sneakers, Lifestyle Sneakers, High-Top Sneakers, Slip-On Sneakers
3) By Boots: Ankle Boots, Knee-High Boots, Chelsea Boots, Combat Boots
4) By Sandals: Flip-Flops, Slide Sandals, Gladiator Sandals, Sport Sandals
5) By Heels: Pumps, Wedges, Stilettos, Block Heels
6) By Other Product Types: Slippers, Clogs, Specialty Footwear
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Which Firms Dominate the Vegan Footwear Market by Market Share and Revenue in 2025?
Major companies operating in the vegan footwear market include Nike Inc., Adidas AG, Allbirds Inc., Kenneth Cole Productions, Veerah LLC, MooShoes, Veja, Issey Miyake Shoes GmbH, Native canada footwear Ltd., Taylor + Thomas, Nae Vegan shoes, Ahinsa Shoes Inc., Matt & Nat, AVESU GMBH, Saola Shoes, Noah Shoes, Etiko, Brave Soles, Beyond Skin Vegan shoes, Bourgeois Boheme Shoes, Rungg Shoes, Susy Shoes, Altercore Shoes, GoodGuysdontwearleather, Hexa Shoes, Sydney Brown LLC, Vegetarian Shoes, Virón world, Wills Vegan Shoes
Which Regions Offer the Highest Growth Potential in the Vegan Footwear Market?
North America was the largest market in the vegan footwear market in 2024. The regions covered in the vegan footwear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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