Vegan Fashion Market Size was valued at USD 455.2 Billion in 2022. The Vegan Fashion market industry is projected to grow from USD 489.7 Billion in 2023 to USD 880.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2023 - 2032). Increased awareness and demand for sustainable and cruelty-free products and the influence of prominent celebrities and influencers are the key market drivers enhancing market growth.
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for vegan fashion is being driven by the rising awareness and demand for sustainable and cruelty-free products, which serve as potent catalysts for the growth of the vegan fashion market. This shift reflects a larger societal move towards conscious consumerism, where individuals seek products that align with their values of environmental stewardship and ethical treatment of animals. As these values continue to shape consumer preferences, the vegan fashion market is likely to expand further, influencing industry practices and contributing to a more sustainable and compassionate future for the fashion industry.
In the fashion industry, this shift is particularly evident in the rising demand for vegan fashion. Consumers are now more informed about the environmental impact of traditional fashion, including the use of animal-derived materials such as leather, fur, and silk. The recognition of the ecological consequences associated with animal agriculture and the desire to reduce one's carbon footprint are prompting individuals to opt for clothing and accessories that do not contribute to animal exploitation. Vegan fashion addresses these concerns by offering products made from sustainable and cruelty-free materials. Plant-based fabrics like cotton, hemp, and bamboo, as well as innovative synthetic materials, are gaining popularity as alternatives to traditional animal-derived textiles. These materials not only minimizes the environmental impact but also cater to consumers who are seeking fashionable, high-quality items without compromising on their ethical beliefs.
Moreover, the cruelty-free aspect of vegan fashion resonates strongly with a growing segment of consumers who prioritize animal welfare. The fashion industry has historically been associated with practices that involve harm to animals, such as leather production and fur farming. The increased awareness of these issues, fueled by advocacy from animal rights organizations and social media campaigns, has influenced consumers to choose clothing and accessories that do not contribute to animal suffering. Fashion brands, recognizing the changing consumer landscape, are adapting to this demand for sustainability and cruelty-free practices. Many are incorporating vegan options into their product lines, showcasing the viability of ethical fashion without sacrificing style. This not only broadens the market for vegan fashion but also encourages a shift in industry norms towards more responsible and compassionate practices. Thus driving the Vegan Fashion market revenue.
The Vegan Fashion Market segmentation, based on product type, includes Footwear, Accessories, Clothing, and Others. The footwear segment dominates the market, accounting for the largest market revenue due to its pivotal role in expressing personal style while providing a tangible avenue for ethical and sustainable choices. The footwear sector has witnessed a surge in demand for vegan alternatives as consumers increasingly seek cruelty-free options without compromising on style or comfort. This dominance is fueled by the availability of innovative materials such as plant-based leather substitutes, recycled fabrics, and sustainable synthetics, providing consumers with a diverse range of fashionable and ethically produced shoe options. Further, the accessories category is the second most dominant, as there are a wide variety of vegan accessories available, such as handbags, belts, and wallets.
Figure 1: Vegan Fashion Market, by Product Type, 2022 & 2032 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
The Vegan Fashion Market segmentation, based on gender, includes Men and Women. The women category dominates the market due to its proactive engagement with ethical and sustainable consumption. Women often lead in adopting lifestyle choices that align with environmental and cruelty-free values, making them a pivotal force in driving the demand for vegan fashion. The heightened awareness among women regarding the ecological impact of traditional fashion, coupled with a growing emphasis on animal welfare, positions them as key advocates for cruelty-free alternatives. As women increasingly seek stylish and ethical options, the market for vegan fashion continues to expand.
The Vegan Fashion Market segmentation, based on distribution channels, includes offline and online channels. The online category dominates the market due to its ability to address a global audience and provide accessibility to a diverse range of consumers. E-commerce platforms offer a convenient and expansive marketplace for consumers seeking cruelty-free and sustainable fashion options, transcending geographical constraints. The online space allows vegan fashion brands to showcase their products effectively through visually appealing websites and social media platforms, fostering engagement and awareness.
By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American Vegan Fashion market area dominates this market due to a confluence of factors, including a widespread shift towards ethical consumerism, a strong emphasis on sustainability, and a robust infrastructure supporting the growth of cruelty-free fashion brands.
Further, the prime countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.
Figure 2: VEGAN FASHION MARKET SHARE BY REGION 2022 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Vegan Fashion market accounts for the second-largest market share due to the increasing environmental consciousness, ethical consumer preferences, and a growing demand for sustainable and the cruelty-free alternatives in the fashion industry. Further, the German Vegan Fashion market held the largest market share, and the UK Vegan Fashion market was the rapid-growing market in the region of Europe.
The Asia-Pacific Vegan Fashion Market is foreseen to grow at the fastest CAGR from the year 2023 to 2032. This is due to an increasing awareness of ethical and sustainable practices, coupled with a growing consumer demand for cruelty-free alternatives in the fashion industry. Moreover, China’s Vegan Fashion market held the largest market share, and the Indian Vegan Fashion market was the fastest-growing market in Asia-Pacific region.
Leading market players are investing heavily in the research and development in order to expand their product lines, which will help the Vegan Fashion market grow even more. Market players are also undertaking a variety of strategic activities to spread their global footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Vegan Fashion industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the global Vegan Fashion industry to benefit the clients and increase the market sector. In recent years, the Vegan Fashion industry has offered some of the most significant advantages to the fashion industry. Major players in the Vegan Fashion market, including SUSI Studio, Insecta Shoes Canada Inc., ROMBAUT, Della La LLC, Reformation, Alabama Chanin, Doshi FCSA, Hiareth Collective, Komodo Fashion, Brave Gentle Man, and others, are trying to increase market demand by investing in the research and development operations.
VF Corporation is a renowned American multinational apparel and footwear company that stands as one of the world's largest and most diverse apparel companies. Headquartered in Denver, Colorado, VF Corporation owns an extensive portfolio of iconic brands, including The North Face, Vans, Timberland, Dickies, and many others. The company has a rich heritage dating back to its founding in 1899 and has evolved into a global leader in outdoor and active lifestyle wear. VF Corporation is recognized for its commitment to sustainability, with initiatives such as the "Made for Change" strategy that focuses on responsible sourcing, ethical manufacturing practices, and environmental stewardship. In September 2023, VF Corporation, the owner of brands such as The North Face and Vans, acquired a minority stake in Veja, a French vegan sneaker brand. This acquisition is expected to help Veja expand its global reach and distribution.
LVMH Moët Hennessy Louis Vuitton SE, commonly known as LVMH, is a multinational conglomerate and the largest luxury goods company in the world. Renowned for its commitment to the craftsmanship, innovation, and exclusivity, LVMH has established itself as a leader in the global luxury market. With a strong emphasis on sustainability and responsible business practices, LVMH continues to shape the future of luxury while maintaining its position as a powerhouse in the global fashion and lifestyle industry. In December 2021, LVMH, the French luxury goods conglomerate, acquired a majority stake in Stella McCartney, a British fashion house known for its vegan and sustainable designs. This acquisition is expected to help Stella McCartney expand its reach and influence in the luxury fashion market.
Vegan Fashion Industry Developments
October 2023: PANGAIA, a sustainable fashion brand, partnered with The Woolmark Company, the global authority on wool, to develop a new line of vegan wool alternatives. This partnership is expected to help PANGAIA create more sustainable and ethical fashion products.
September 2023: H&M, the Swedish fast-fashion retailer, partnered with Mylo, a company that develops sustainable leather alternatives made from mycelium, the root structure of mushrooms. This partnership is expected to help H&M reduce its reliance on animal leather.
November 2023: Adidas, the German sportswear company, partnered with the Parley for the Oceans, an environmental organization, to create a new line of shoes made from recycled marine plastic. This partnership is expected to help Adidas reduce its environmental impact.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 455.2 Billion |
| Market Size 2023 | USD 489.7 Billion |
| Market Size 2032 | USD 880.0 Billion |
| Compound Annual Growth Rate (CAGR) | 7.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Gender, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | SUSI Studio, Insecta Shoes Canada Inc., ROMBAUT, Della La LLC, Reformation, Alabama Chanin, Doshi FCSA, Hiareth Collective, Komodo Fashion, Brave Gentle Man |
| Key Market Opportunities | ·      The influence of prominent celebrities and influencers. |
| Key Market Dynamics | ·      Increased awareness and demand for sustainable and cruelty-free products. |
Frequently Asked Questions (FAQ) :
The Vegan Fashion Market size was valued at USD 455.2 Billion in 2022.
The global market is foreseen to rise at a CAGR of 7.60% during the forecast period, 2023-2032.
North America held the biggest share of the global market
The key players in the market are SUSI Studio, Insecta Shoes Canada Inc., ROMBAUT, Della La LLC, Reformation, Alabama Chanin, Doshi FCSA, Hiareth Collective, Komodo Fashion, and Brave Gentle Man.
The footwear category dominated the market in 2022.
The online had the largest share in the global market.
Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
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