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Press release content from Accesswire. The AP news staff was not involved in its creation.
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Press release content from Accesswire. The AP news staff was not involved in its creation.

Vegan Footwear Market to Witness Growing Demand for Eco-Friendly Shoes Causing Increment in Sales over 2020-2030, Says Future Market Insights in New Study

October 7, 2020 GMT

DUBAI, UAE / ACCESSWIRE / October 7, 2020 / Future Market Insights (FMI) in its recent market study on the veganfootwear market is poised to expand at a robust 7.2% CAGR across the projected period, 2020-2030. Consumer’s preference for environmental-friendly products is a primary sales booster of vegan footwear. This trend is suspected to slow down in the approaching years. Consumers across regions are wilfully shifting towards ethical fashion this has prompted a growing preference for cruelty-free fashion and producers to capitalize on the immense scope for growth are driving sales worldwide.

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The COVID-19 outbreak has witnessed significant supply chain disruptions, compelling brands to capitalize on influencing their online presence. According to FMI, growth will remain slow amid the crisis. However, the market will recover soon as consumers will be more vigilant about their choices in the post-COVID-19 era.

“In view of changing consumer’s preference, the majority of the companies are poised to concentrate on sustainability. A few of them are also

likely to further incorporate plant-based materials for producing shoes to gain competitive advantage,” infers an FMI analyst.

For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-12545

Vegan Footwear Market - Key Takeaways

  • By product, the shoe category is slated to remain dominant over the projected period as vegan shoe trend is increasingly becoming popular amid both
  • women and men.
  • The microfiber’s material type will be acquiring significant traction over the assessment period.
  • By end-user, both me and women end-users will support growth witnessed in the market.
  • Indirect sales channel remains the key beneficiary in the global sales in contrast to direct sales, primarily dominated by hypermarkets/ supermarkets.
  • Mass/Economic accounts for dominance based on price range during the forecasted period.

Vegan Footwear Market - Key Trends

  • Growing usage of sustainable material considering the surging demand for reducing carbon footprint is set to drive the manufacturing of vegan footwear across the world.
  • Millennials create the most lucrative demography for vegan footwear sales uptick.
  • Multipronged Benefits of Vegan Footwear prove to be strong pillars of market growth.
  • Certified by international organizations such as PETA, will act as a catalyst in the growth of the vegan footwear market.

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Vegan Footwear Market - Regional Analysis

  • North America is poised to exhibit lucrative growth prospects, primarily lead by the US, due to high purchase power during 2020-2030.
  • Europe is projected to gain by growing demand from Germany and the US, due to the presence of prominent retail brands.
  • The Asia Pacific has witnessed skyrocketing demand for plant-based material thus escalating demand for vegan footwear in the region.

Vegan Footwear Market - Competitive Landscape

Key companies functioning in the global vegan footwear market are Susi Studio, Nike Inc., Adidas AG, Veerah, Matt & Nat, Hexa Vegan Shoes,

Beyond Skin UKamong, AVESU GMBH, Ethletic, and MooShoes.

Prominent brands in the market are capitalizing on product launches, advertising, and promotion and steadily enhancing their designs to remain relevant amid competition. Players operating in the market are consequently entering into strategic collaborations to attain a competitive advantage. Aside from this, to guarantee attributes and quality they are focusing on certifications from prominent international organizations.

We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-12545

Vegan Footwear Market - Market Segmentation

Product Type

  • Shoes
  • Sneakers
  • Boots
  • Sandals
  • Heels
  • Loafers
  • Others

Sales Channel

  • Direct
  • Indirect

Material Type

  • Microfibre
  • Polyurethane (PU)
  • Recycled Plastics
  • Recycled Polyester
  • Cotton
  • Natural Rubber
  • Hemp
  • Others

End User

  • Men
  • Women
  • Kids
  • Transgender

Price Range

  • Mass/ Economic
  • Premium

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/askus/rep-gb-12545

Get Valuable Insights into the Vegan Footwear Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global vegan footwear market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the vegan footwear market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Jumeirah Lakes Towers, Dubai,

United Arab Emirates

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Report: https://www.futuremarketinsights.com/reports/vegan-footwear-market

Press Release Source: https://www.futuremarketinsights.com/press-release/vegan-footwear-market

SOURCE: Future Market Insights

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https://www.accesswire.com/609536/Vegan-Footwear-Market-to-Witness-Growing-Demand-for-Eco-Friendly-Shoes-Causing-Increment-in-Sales-over-2020-2030-Says-Future-Market-Insights-in-New-Study