The global Luxury Vegan Men’s Fashion market size is expected to be worth around US$ 45.0 billion by 2030, according to a new report by Vision Research Reports.
The global Luxury Vegan Men’s Fashion market size was valued at US$ 18.5 billion in 2020 and is anticipated to grow at a CAGR of 11.9% during forecast period 2021 to 2030.
|Market Size||US$ 45.0 Billion by 2030|
|Growth Rate||CAGR of 11.9% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Komodo Fashion; ECOALF; Brave GentleMan; Rapanui; Tact & Stone; THOUGHT CLOTHING; BARO; CARPASUS; Wuxly Movement; A.BCH|
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 popularity of vegan clothing and accessories made from cruelty-free sources, coupled with rising consumer focus on animal wellbeing and safety, has been contributing to the greater social acceptance of these products, thereby driving their demand. Increasing disposable income and consumer spending on luxury products are some of the other prominent factors augmenting the demand for luxury vegan men’s fashion globally.
By Product Analysis
The footwear segment dominated the market for luxury vegan men’s fashion and accounted for the largest value share of over 40.8% in 2020. This product segment is projected to witness a CAGR of over 10.7% over the forecast period.
An increasing number of startups venturing into vegan footwear is driving the demand. Additionally, many conventional footwear brands including Adidas, Nike, and Rebook are also offering vegan footwear owing to increasing demand from conscious consumers.
The accessories segment is projected to witness the fastest CAGR of 11.8% from 2021 to 2028. The increasing number of options available for men for bags and wallets in terms of style and fabric is likely to lead to a growing demand for the accessories segment over the forecast period.
By Distribution Channel Analysis
E-commerce is projected to witness a CAGR of 11.7% over the forecast period. Globally, the online channel has become highly popular among millennials, primarily owing to the convenience it offers.
The specialty store segment dominated the market for luxury vegan men’s fashion and accounted for the largest revenue share of 23.8% in 2020. Specialty stores specialize in the distribution of certain products-in this case, luxury vegan men’s fashion.
Prospective brands opt for the distribution of luxury vegan men’s fashion products through specialty stores. These stores act as “pop-ups” and help create excitement around a brand or a product.
By Regional Analysis
North America dominated the luxury vegan men’s fashion market and accounted for the largest revenue share of around 33.1% in 2020. The growing apparel and textile market in the region is expected to drive the market for luxury vegan men’s fashion.
Asia Pacific is projected to witness the fastest CAGR of 12.6% over the forecast period. An increasing number of compassionate shoppers who are willing to buy high-quality, cruelty-free, and environment-friendly fashionable products has been instrumental in driving the product demand.
The young and working-class populations in the region that exhibit increased interest in their appearance and have been dressing in tune with the latest trends are attracted to vegan fashion as purchasing these products gives them a sense of giving back to the environment.
Tact & Stone
Clothing & Apparel
By Distribution Channel
Middle East & Africa
Central & South America
The Luxury Vegan Men’s Fashion market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Luxury Vegan Men’s Fashion market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Luxury Vegan Men’s Fashion market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Luxury Vegan Men’s Fashion market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Luxury Vegan Men’s Fashion market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Luxury Vegan Men’s Fashion capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Luxury Vegan Men’s Fashion by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Luxury Vegan Men’s Fashion market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Luxury Vegan Men’s Fashion market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Luxury Vegan Men’s Fashion market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Luxury Vegan Men’s Fashion industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Luxury Vegan Men’s Fashion market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Luxury Vegan Men’s Fashion market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Luxury Vegan Men’s Fashion market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Luxury Vegan Men’s Fashion market. These factors have benefited the growth of the global market for Luxury Vegan Men’s Fashion. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Luxury Vegan Men’s Fashion. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Luxury Vegan Men’s Fashion are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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