The North America Vegan Footwear Market would witness market growth of 10.4% CAGR during the forecast period (2021-2027).
Various trends in the fashion industry are providing support to vegan footwear trends and are also increasing the significance of veganism among manufacturers as well as customers. Several governments are taking initiatives for the reduction of carbon footprints and plastic wastage, which is motivating footwear companies to reuse these materials and develop sustainable manufacturing methods. There is an increase in the population of animal lovers, and rising the trend of animal humanization, which are estimated to bolster the growth of the vegan footwear market over the forecast period.
There are numerous luxury fashion footwear brands like Gucci and Jimmy Choo, which are getting into the vegan trend across the region. Many fashion shows organized in the region like New York fashion week are motivating customers towards the adoption of vegan fashion products including vegan footwear through their shows.
Since the fashion industry of this region plays an important role in influencing fashion trends companies are majorly focusing on launching their vegan footwear collection across the region. Along with that, the prevalence of key footwear brands offering vegan footwear products like Nike, Adidas, and Gucci and the increasing fashion consciousness among the young generation would accelerate the demand and growth of the vegan footwear market over the forecast period.
The US market dominated the North America Vegan Footwear Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.04 billion by 2027. The Canada market is anticipated to grow at a CAGR of 13% during (2021 - 2027). Additionally, The Mexico market would showcase a CAGR of 12% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Vegan Footwear Market is Estimated 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.
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