A Report From Coherent Market Insights Shows The Growth And Opportunities Of Vegan Fashion
Coherent Market Insights has recently published a report showcasing the growth and opportunities of the vegan fashion market from 2023-2030. The research has been conducted on the following key factors.
- Industry size
- Business analysis
- Regional forecast and growth factors
In addition, the Vegan Fashion Market report highlights research and amalgamation, overview, market size, and review data collected from many sources. Furthermore, the report has information about drivers, restraints, market dynamics, etc.
The report has authenticated data curated through detailed primary and secondary research. According to the report,
“The global vegan fashion market was valued at US$ 451.7 Bn and is expected to reach US$ 835.7 Bn in 2030 exhibiting a CAGR of 7.1% during the forecast period (2022 to 2030).” (Source)
Talking about the key players in the Vegan Fashion Market, the report further mentions,
“Major players operating in the global vegan fashion market include SUSI Studio, Insecta Shoes Canada Inc. ROMBAUT, In The Soulshine, Della La LLC, Reformation, Alabama Chanin, Wawwa, Doshi FCSA, Hiareth Collective, Komodo Fashion, Brave Gentle Man, ECOALF, Rapanui, and Tact & Stone.”
Women have been the dominant power in the Vegan Fashion Market. In 2021, around 54% share of the Vegan Fashion Market was owned by women. Further, the increasing demand for vegan skincare and makeup products shows a promising future for the Vegan Fashion Market.
The report suggests that “Rising awareness about the medical advantages of vegan products such as cosmetics, clothing, and others can boost the market growth worldwide.”
However, there are certain factors restraining the growth of the Vegan Fashion Market. According to the Coherent Market Insights report,
“High cost of vegan products such as shoes, handbags, lipstick, lip balm, and others is one of the major restraining factors in the vegan fashion market.
As compared to animal by product, the vegan product such as footwear, clothing, and others has an overpriced which can reduce the market in price sensitive countries such as India and China.
Vegan products, such as cosmetics are made from artificial ingredients that cannot last as long which can hamper the market growth.”