PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401452
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1401452
Global Vegan Clothing Market is valued at approximately USD 628.7 million in 2022 and is anticipated to grow with a CAGR of more than 12.0% over the forecast period 2023-2030. Vegan clothing refers to garments and accessories that are produced without the use of animal-derived materials or by-products. It prioritizes ethical and sustainable alternatives, such as plant-based fabrics, hemp, bamboo, or synthetic materials. Vegan clothing promotes cruelty-free fashion by avoiding materials such as leather, fur, silk, and wool. sourced from animals. By opting for vegan clothing, individuals aim to align their fashion choices with their ethical values and reduce their impact on animal exploitation and environmental harm. Moreover, the growing apparel market and growing awareness of animal cruelty in the fashion industry are anticipated as market drivers. Furthermore, the rising e-commerce market and expansion of sustainable & ethical fashion fuel the market space during the forecastperiod of 2023-2030.
According to Statista in 2023, The global apparel market witnessed significant revenue growth, increasing from USD 1.4 trillion in 2020 to approximately USD 1.53 trillion in 2022. This upward trend presents a promising opportunity for the global Vegan Clothing Market, as consumers increasingly prioritize ethical and sustainable fashion choices. As forecasts indicate that the entire market could approach the USD 2 trillion mark by 2027, the vegan clothing industry continues to exhibit promising growth potential. This optimism stems from the increasing number of individuals adopting cruelty-free and environmentally conscious apparel choices. According to the same source in 2022, The global vegan clothing industry has witnessed a positive trend in raising awareness about animal cruelty in the fashion sector. This revealed that there is a considerable discrepancy in consumer awareness between countries. Switzerland stands out with 84 % of consumers being conscious of animal cruelty in fashion, while in the United States, the percentage was 46 % . This variation highlights the potential for growth and advocacy within the global Vegan Clothing Market, as more consumers recognize the importance of ethical and cruelty-free fashion choices. However, the limited availability of materials and changing consumer perception hamper the growth of the market during the forecast period of 2023-2030.
The key regions considered for the Global Vegan Clothing Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the global Vegan Clothing Market due to rising awareness and adoption of veganism, a strong vegan culture, the influence of celebrities and influencers, the availability of vegan-friendly brands, a well-established retail infrastructure, and supportive policies and regulations. However, the global Vegan Clothing Market is growing worldwide, and other regions catch up in the future. The Asia Pacific region is the fastest growing market in the global vegan clothing industry due to its large and expanding population, cultural inclination towards plant-based lifestyles, increasing awareness about ethical and sustainable fashion, the emergence of local brands catering to regional preferences, and supportive government initiatives promoting eco-friendly practices. These factors have led to a surge in demand for vegan clothing options in the region, driving its rapid growth.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable