The Asia Pacific Vegan Footwear Market is expected to witness market growth of 12.6% CAGR during the forecast period (2021-2027).
As vegan culture is gaining more popularity among millennials and Gen Z, the demand for vegan products is also increasing, be it food items, fashion apparel, or footwear. In the last few years, footwear companies are manufacturing vegan footwear by using plants like bananas, mushrooms, and apples, along with that they are also using synthetic materials such as microfiber, polyurethane (PU), or rubber.
Various animal proteins such as casein from milk or collagen from bones, flesh, tendons, ligaments, skins, and other animal body parts are utilized in the making of animal-based glues. In order to extract collagen from tissue, different animal parts are softened, cleaned, and boiled in water to make a stock, which is further processed and concentrated to remove impurities.
Since the trend of veganism is constantly flourishing in the developing nations of the region, many key companies are entering this region to expand their businesses. For instance, Kanabis, a vegan brand of footwear for women has collaborated with PETA India to launch their collection for vegan footwear fans. In addition, the company has developed a footwear collection that offers high quality, high performance, and innovative designs to match the fashion desire of the customers.
The China market dominated the Asia Pacific Vegan Footwear Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $2.2 billion by 2027. The Japan market is anticipated to grow a CAGR of 13.61% during (2021 - 2027). Additionally, The India market is expected to showcase a CAGR of 13.64% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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.
Scope of the Study
Market Segments Covered in the Report:
By End user
- Men
- Women
- Others
By Distribution Channel
- Specialty Stores
- Supermarkets/Hypermarkets
- Convenience Stores
- Others
By Material Type
- Polyurethane
- Recycled plastics
- Microfiber
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Avesu GmbH
- Garamont International Srl
- Matt & Nat
- MooShoes
- Adidas AG
- Nike, Inc.
- PUMA SE
- Under Armour, Inc.
- ASICS Corporation
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Companies Mentioned
- Avesu GmbH
- Garamont International Srl
- Matt & Nat
- MooShoes
- Adidas AG
- Nike, Inc.
- PUMA SE
- Under Armour, Inc.
- ASICS Corporation
Methodology
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