The Asia Pacific Vegan Footwear Market would witness market growth of 12.6% CAGR during the forecast period (2021-2027).
As vegan culture is gaining more popularity among millennials and Gen Z, the demand for vegan products is also increasing, be it food items, fashion apparel, or footwear. In the last few years, footwear companies are manufacturing vegan footwear by using plants like bananas, mushrooms, and apples, along with that they are also using synthetic materials such as microfiber, polyurethane (PU), or rubber.
Various animal proteins such as casein from milk or collagen from bones, flesh, tendons, ligaments, skins, and other animal body parts are utilized in the making of animal-based glues. In order to extract collagen from tissue, different animal parts are softened, cleaned, and boiled in water to make a stock, which is further processed and concentrated to remove impurities.
Since the trend of veganism is constantly flourishing in the developing nations of the region, many key companies are entering this region to expand their businesses. For instance, Kanabis, a vegan brand of footwear for women has collaborated with PETA India to launch their collection for vegan footwear fans. In addition, the company has developed a footwear collection that offers high quality, high performance, and innovative designs to match the fashion desire of the customers.
The China market dominated the Asia Pacific Vegan Footwear Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.2 billion by 2027. The Japan market is anticipated to grow a CAGR of 13.61% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 13.64% during (2021 - 2027).
Based on end-user, the vegan footwear market is fragmented into men, women, and others. Based on distribution channel, the vegan footwear market is divided into specialty stores, supermarkets/hypermarkets, convenience stores, and others. Based on material type, the vegan footwear market is classified into polyurethane, recycled plastics, microfiber, and others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Vegan Footwear Market is Projected to reach USD 32.05 billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avesu GmbH, Garamont International Srl, Matt & Nat, MooShoes, Adidas AG, Nike, Inc., PUMA SE, Under Armour, Inc., and ASICS Corporation.
By End user
By Distribution Channel
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