The Europe Luxury Vegan Men’s Fashion Market would witness market growth of 8.5% CAGR during the forecast period (2021-2027).
Veganism is quietly making its way into mainstream men's fashion, and brick-and-mortar retail establishments and independent garment and footwear retailers that are among the most popular sales channels. Mono-brand or independent luxury vegan clothing stores have also been attempting to attract cruelty-free concious customers. As per The Vegan Society, there have been over 600,000 vegans in the United Kingdom in 2018, with the number gradually increasing every year since 2014.
The market for luxury vegan men's clothes has seen a surge in the number of independent boutiques and businesses, using both online and offline locations to reach out to customers. To acquire market momentum, these retailers primarily include a big number of freelance designers working on various ethical-based apparel.
The British Retail Consortium (BRC) announced a new rule in February 2020, stating that declaring a product to be "vegan" is a complicated procedure because many product ingredients, such as glue, dyes, and chemicals, are sourced from animals. As a result, shops must check the raw ingredients utilized in the vegan footwear they sell. Retailer assurance on items is a major influence in sales, which will be sluggish since merchants must check the raw materials utilised.
The Germany market dominated the Europe Luxury Vegan Men’s Fashion Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,127 million by 2027. The UK market would witness a CAGR of 7.7% during (2021 - 2027). Additionally, The France market is experiencing a CAGR of 9.3% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into E-commerce, Specialty Stores, Departmental Stores, Hypermarket/Supermarket, and Others Based on Product, the market is segmented into Footwear, Clothing & Apparel, and Accessories. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Luxury Vegan Men's Fashion Market Size will Hit $29 Billion by 2027, at a CAGR of 8.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Komodo Fashion, Brave GentleMan, ECOALF, Carpasus GmbH, Wuxly Movement, Rapanui, A.BCH, Tact & Stone, and Thought Clothing.
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