The global luxury vegan men’s fashion market is anticipated to reach USD 40.0 billion by 2028. The market is expected to expand at a CAGR of 10.9% from 2021 to 2028. The rising number of High-Net-worth Individuals (HNWI) and the growing popularity of vegan clothing and accessories made from cruelty-free sources among the millennial and Gen Z population across the world are anticipated to fuel the industry growth over the forecast period.
The increasing adoption of veganism has driven the demand for cruelty-free and environmentally friendly footwear across the globe. Several renowned brands are focusing on offering vegan footwear. Many of the new companies are adopting recycled materials to produce high-end vegan footwear. For instance, in 2018, Adidas introduced the vegan version of their popular Stan Smith sneakers, in collaboration with designer Stella McCartney. Furthermore, in 2019, the company launched a second version of the sneakers with colorful star patterns and chunky rainbow shoelaces.
The sudden outbreak of coronavirus has disrupted the supply chain, causing severe losses in terms of product shipment and on-time delivery. According to the Office of Textiles and Apparel (OTEXA), COVID-19 had a significant impact on global apparel imports for the complete year and the path to recovery of the industry cannot be expected to be quick. The value of U.S. apparel imports reduced by more than 60% in May 2020 when compared to the previous year, making a new record of single-month loss in trade volumes. Likewise, based on a report by luxury fashion firm Ralph Lauren Corporation, which deals with vegan apparel and accessories, the company is expected to take a hit of up to USD 70 million on its fourth-quarter sales due to the coronavirus outbreak and has stated that supply chain disruptions in China as one of the main reasons.
The vegan fashion market is both growing and transitioning toward the concept of sustainability as it offers an opportunity for brands to capture sales from increasingly environmentally conscious consumers. Established companies have been altering their production methods pertaining to vegan and eco-friendly materials to align themselves with changing trends. For instance, in July 2018, ECOALF launched Shao Sneakers made from algae and ocean plastic. Five plastic bottles sourced from the ocean are used to create the upper sole and algae is collected from lakes and rivers to create the outer sole.
The increasing adoption of veganism has driven the demand for cruelty-free and environmentally friendly footwear across the globe. Several renowned brands are focusing on offering vegan footwear. Many of the new companies are adopting recycled materials to produce high-end vegan footwear. For instance, in 2018, Adidas introduced the vegan version of their popular Stan Smith sneakers, in collaboration with designer Stella McCartney. Furthermore, in 2019, the company launched a second version of the sneakers with colorful star patterns and chunky rainbow shoelaces.
The sudden outbreak of coronavirus has disrupted the supply chain, causing severe losses in terms of product shipment and on-time delivery. According to the Office of Textiles and Apparel (OTEXA), COVID-19 had a significant impact on global apparel imports for the complete year and the path to recovery of the industry cannot be expected to be quick. The value of U.S. apparel imports reduced by more than 60% in May 2020 when compared to the previous year, making a new record of single-month loss in trade volumes. Likewise, based on a report by luxury fashion firm Ralph Lauren Corporation, which deals with vegan apparel and accessories, the company is expected to take a hit of up to USD 70 million on its fourth-quarter sales due to the coronavirus outbreak and has stated that supply chain disruptions in China as one of the main reasons.
The vegan fashion market is both growing and transitioning toward the concept of sustainability as it offers an opportunity for brands to capture sales from increasingly environmentally conscious consumers. Established companies have been altering their production methods pertaining to vegan and eco-friendly materials to align themselves with changing trends. For instance, in July 2018, ECOALF launched Shao Sneakers made from algae and ocean plastic. Five plastic bottles sourced from the ocean are used to create the upper sole and algae is collected from lakes and rivers to create the outer sole.
Luxury Vegan Men’s Fashion Market Report Highlights
- Asia Pacific region is projected to be the fastest growing segment by progressing at a compound annual growth rate (CAGR) of 12.6% over the forecast period
- The footwear segment is foreseen to remain at the forefront regarding market share and is projected to account for a total market share of 40.8% in 2028
- The e-commerce segment in the distribution channel is projected to be the fastest-growing segment by progressing at a CAGR of 11.7% over the forecast period
Table of Contents
Chapter 1. Methodology and Scope1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 The Publisher's Internal Database
1.3.3 Secondary Sources and Third - Party Perspectives
1.3.4 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation & Data Visualization
1.6 Data Validation & Publishing
Chapter 2. Executive Summary
2.1 Market Outlook
2.2 Product Outlook
Chapter 3. Luxury Vegan Men's Fashion Market Variables, Trends, & Scope
3.1 Market Introduction
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Sales Chain Analysis
3.3.2 Profit Margin Analysis
3.4 Market Dynamics
3.4.1 Driver Impact Analysis
3.4.1.1 Increasing Number of Vegan Footwear Startups
3.4.1.2 Growing Innovation in the Vegan Fashion Industry
3.4.2 Restraint Impact Analysis
3.4.2.1 Environmental Repercussions of Vegan Materials
3.4.3 Industry Challenges
3.4.4 Industry Opportunities
3.5 Business Environment Analysis
3.5.1 Industry Analysis: Porter's Five Forces
3.6 Roadmap of Luxury Vegan Men's Fashion Market
3.7 Market Entry Strategies
3.8 Impact Analysis: Coronavirus on Market Growth
Chapter 4. Consumer Behavior Analysis
4.1 Consumer Trends & Preferences
4.2 Factors Affecting Buying Decision
4.3 Consumer Product Adoption
4.4 Observations & Recommendations
Chapter 5. Luxury Vegan Men's Fashion Market: Product Estimates & Trend Analysis
5.1 Market: Product Analysis & Market Share, 2020 & 2028
5.2 Accessories
5.2.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
5.3 Clothing & Apparel
5.3.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
5.4 Footwear
5.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
Chapter 6. Luxury Vegan Men's Fashion Market: Distribution Channel Estimates & Trend Analysis
6.1 Market: Distribution Channel Analysis & Market Share, 2020 & 2028
6.2 E - Commerce
6.2.1 Market Estimates and Forecast Through E - Commerce Channel, 2016 - 2028 (USD Million)
6.3 Supermarkets & Hypermarkets
6.3.1 Market Estimates and Forecast Through Supermarkets & Hypermarkets, 2016 - 2028 (USD Million)
6.4 Departmental Stores
6.4.1 Market Estimates and Forecast Through Specialty Stores, 2016 - 2028 (USD Million)
6.5 Specialty Stores
6.5.1 Market Estimates and Forecast Through Specialty Stores, 2016 - 2028 (USD Million)
6.6 Others
6.6.1 Market Estimates and Forecast Through Other Channels, 2016 - 2028 (USD Million)
Chapter 7. Luxury Vegan Men's Fashion Market: Regional Estimates & Trend Analysis
7.1 Market Size & Forecast and Trend Analysis, 2019 to 2028
7.2 North America
7.2.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.2.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.2.3 Market Estimates and Forecast, by Distribution Channel, 2016 - 2028 (USD Million)
7.2.4 U.S.
7.2.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.2.4.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.2.4.3 Market Estimates and Forecast, by Distribution Channel, 2016 - 2028 (USD Million)
7.3 Europe
7.3.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.3.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.3.3 Market Estimates and Forecast, by Sales Distribution Channel, 2016 - 2028 (USD Million)
7.3.4 U.K.
7.3.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.3.4.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.3.4.3 Market Estimates and Forecast, by Sales Channel, 2016 - 2028 (USD Million)
7.3.5 Germany
7.3.5.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.3.5.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.3.5.3 Market Estimates and Forecast, by Distribution Sales Channel, 2016 - 2028 (USD Million)
7.4 Asia-Pacific
7.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.4.2 Market Estimates and Forecast by Product, 2016 - 2028 (USD Million)
7.4.3 Market Estimates and Forecast by Distribution Channel, 2016 - 2028 (USD Million)
7.4.4 China
7.4.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.4.4.2 Market Estimates and Forecast by Product, 2016 - 2028 (USD Million)
7.4.4.3 Market Estimates and Forecast by Distribution Channel 2016 - 2028 (USD Million)
7.4.5 India
7.4.5.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.4.5.2 Market Estimates and Forecast by Product, 2016 - 2028 (USD Million)
7.4.5.3 Market Estimates and Forecast by Distribution Channel 2016 - 2028 (USD Million)
7.5 Central & South America
7.5.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.5.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.5.3 Market Estimates and Forecast, by Distribution Channel 2016 - 2028 (USD Million)
7.5.4 Brazil
7.5.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.5.4.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.5.4.3 Market Estimates and Forecast, by Distribution Channel 2016 - 2028 (USD Million)
7.6 Middle East & Africa
7.6.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.6.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.6.3 Market Estimates and Forecast, by Distribution Channel, 2016 - 2028 (USD Million)
7.6.4 South Africa
7.6.4.1 Market Estimates and Forecast, 2016 - 2028 (USD Million)
7.6.4.2 Market Estimates and Forecast, by Product, 2016 - 2028 (USD Million)
7.6.4.3 Market Estimates and Forecast, by Distribution Channel, 2016 - 2028 (USD Million)
Chapter 8. Competitive and Vendor Landscape
8.1 Key Global Players, Recent Developments, and Their Impact on Industry
8.2 Key Company Categorization
8.3 Vendor Landscape
8.3.1 Key Company Market Share Analysis, 2020
Chapter 9. Company Profiles
9.1 Thought Clothing
9.1.1 Company Overview
9.1.2 Product Benchmarking
9.2 Komodo Fashion
9.2.1 Company Overview
9.2.2 Product Benchmarking
9.3 Brave Gentleman
9.3.1 Company Overview
9.3.2 Product Benchmarking
9.3.3 Strategic Initiatives
9.4 Ecoalf
9.4.1 Company Overview
9.4.2 Product Benchmarking
9.4.3 Strategic Initiatives
9.5 Baro
9.5.1 Company Overview
9.5.2 Product Benchmarking
9.5.3 Strategic Initiatives
9.6 Carpasus
9.6.1 Company Overview
9.6.2 Product Benchmarking
9.7 Wuxly Movement
9.7.1 Company Overview
9.7.2 Product Benchmarking
9.8 Rapanui
9.8.1 Company Overview
9.8.2 Product Benchmarking
9.8.3 Strategic Initiatives
9.9 A.Bch
9.9.1 Company Overview
9.9.2 Product Benchmarking
9.10 Tact & Stone
9.10.1 Company Overview
9.10.2 Product Benchmarking
List of Tables
Table 1 Luxury vegan men’s fashion market - Driving factor market analysis.
Table 2 Luxury vegan men’s fashion market - Restraint factor market analysis
Table 3 North America luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 4 North America luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 5 North America luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)
Table 6 U.S. luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 7 U.S. luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 8 U.S. luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)
Table 9 Europe luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 10 Europe luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 11 Europe luxury vegan men’s fashion market estimates and forecast, by sales distribution channel, 2016 - 2028 (USD Million)
Table 12 U.K. luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 13 U.K. luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 14 U.K. luxury vegan men’s fashion market estimates and forecast, by sales channel, 2016 - 2028 (USD Million)
Table 15 Germany luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 16 Germany luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 17 Germany luxury vegan men’s fashion market estimates and forecast, by distribution sales channel, 2016 - 2028 (USD Million)
Table 18 Asia Pacific luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 19 Asia Pacific luxury vegan men’s fashion market estimates and forecast by product, 2016 - 2028 (USD Million)
Table 20 Asia Pacific luxury vegan men’s fashion market estimates and forecast by distribution channel, 2016 - 2028 (USD Million)
Table 21 China luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 22 China luxury vegan men’s fashion market estimates and forecast by product, 2016 - 2028 (USD Million)
Table 23 China luxury vegan men’s fashion market estimates and forecast by distribution channel, 2016 - 2028 (USD Million)
Table 24 India luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 25 India luxury vegan men’s fashion market estimates and forecast by product, 2016 - 2028 (USD Million)
Table 26 India luxury vegan men’s fashion market estimates and forecast by distribution channel, 2016 - 2028 (USD Million)
Table 27 Central & South America luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 28 Central & South America luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 29 Central & South America luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)
Table 30 Brazil luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 31 Brazil luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 32 Brazil luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)
Table 33 Middle East & Africa luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 34 Middle East & Africa luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 35 Middle East & Africa luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)
Table 36 South Africa luxury vegan men’s fashion market estimates and forecast, 2016 - 2028 (USD Million)
Table 37 South Africa luxury vegan men’s fashion market estimates and forecast, by product, 2016 - 2028 (USD Million)
Table 38 South Africa luxury vegan men’s fashion market estimates and forecast, by distribution channel, 2016 - 2028 (USD Million)List of Figures
Fig. 1 Luxury vegan men’s fashion market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research approaches
Fig. 5 Primary research process
Fig. 6 Luxury vegan men’s fashion market - Penetration & growth prospect mapping
Fig. 7 Luxury vegan men’s fashion market - Value chain analysis
Fig. 8 Luxury vegan men’s fashion market: Porter’s Five Forces Analysis
Fig. 9 Luxury vegan men’s fashion market- Roadmap
Fig. 10 China's % market share in U.S. apparel Imports, in terms of value and quantity
Fig. 11 Luxury vegan men’s fashion market: Product share (%) analysis, 2020 & 2028
Fig. 12 Luxury vegan men’s fashion market: Distribution channel share (%) analysis, 2020 & 2028
Fig. 13 Luxury vegan men’s fashion market: Regional share (%) analysis, 2020 & 2028
Fig. 14 Luxury vegan men’s fashion market: Company market share (%) analysis, 2020
Companies Mentioned
- A.Bch
- Baro
- Brave Gentleman
- Carpasus
- Ecoalf
- Komodo Fashion
- Rapanui
- Tact & Stone
- Thought Clothing
- Wuxly Movement
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | November 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 19.4 Billion |
| Forecasted Market Value ( USD | $ 40 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
