Vegan Women's Fashion Market To Reach $1.3 Trillion By 2030

Vegan Women’s Fashion Market Growth & Trends

The global vegan women's fashion market size is expected to reach USD 1.3 trillion by 2030, registering a CAGR of 14.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing the inclination of people towards cruelty-free fashion is an important aspect of driving the demand for fashion apparel made from vegan material.

People in developed countries, especially in the U.S, the U.K., France, and Germany have become more receptive to the concepts of veganism and have been following this practice in all walks of life, including food habits and clothing. These consumers do not mind paying higher prices for vegan women’s fashion, thus fueling the growth of the market.

Enthused by the opportunity existence, companies pertaining to vegan fashion not only focus on providing the latest styles but also cater to cultural trends and burgeoning style quotient to attract a varied set of consumers through constant product launch. For instance, in August 2019, an Amsterdam-based denim brand called Kings of Indigo, announced itself to be a fully-vegan company with the launch of ‘no new cotton’ capsule collection- Re Gen, offering a limited edition of jeans and jacket collection for women, men, and kids. Such developments are expected to create a healthy demand for the product over the forecast period.

Based on the product, the footwear segment led the market and accounted for 41.3% share of the global revenue in 2023. The growing popularity of animal safety among consumers has goaded established footwear manufacturers to offer elegant footwear made from natural ingredients to pique the interest of the informed customers. For instance, in November 2019, Reebok International Limited, a company owned by Adidas AG, unveiled the design for its first plant-based running shoe, called Floatride GROW. The upper part of the shoe is made primarily from eucalyptus whereas its soles are made from castor beans and natural rubber. The company had launched this design two years after it started selling a vegan version of its famed Newport Classic shoes made with cotton and corn.

By distribution channel, specialty stores dominated the market and accounted for 29.5% share of the global revenue in 2023. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, these stores keep their stores more updated with the latest vegan fashion trends in the market, thus attracting more consumers who are looking for variety in the product.

North America dominated the market for vegan women’s fashion and accounted for 34.7% share of the global revenue in 2023. Growth in the market is powered by the strong presence of manufacturers, including Whimsy & Row and Reformation, along with a well-developed supply chain in the region. Moreover, people in countries such as the U.S. have a large number of animal rights organizations, such as the American Society for the Prevention of Cruelty to Animals, and The Anti-Cruelty Society, which have been promoting the concept of veganism.

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Vegan Women’s Fashion Market Report Highlights

• Europe is expected to expand at the significant CAGR over the forecast period. Social media marketing campaigns, growing preference for vegan women’s fashion apparel by millennials, and the presence of a large number of manufactures are expected to drive the market in the region. The U.K. and Germany are among the top two countries witnessing the growth of the market.

• The e-commerce segment is expected to grow at a lucrative CAGR over the forecast period. The increasing availability of a wide number of vegan women’s fashion clothing and accessories of different brands at affordable prices on e-retailer platforms is one of the main factors fueling the segment growth.

• The specialty store distribution channel segment held the leading revenue share in 2023. Adoption of key strategies such as offers and discounts by the market players along with the availability of a wide range of products is anticipated to attract a larger consumer base and fuel the growth of the segment.

• By product, the footwear segment dominated the market and accounted for a share of 41.3% in 2023 as it is becoming more of a fashion statement among women. Moreover, increasing popularity of animal safety among consumers is fueling the demand for these products.

Vegan Women’s Fashion Market Segmentation

Grand View Research has segmented the global vegan women’s fashion market based on product, distribution channel, and region:

Vegan Women's Fashion Product Material Outlook (Revenue, USD Million, 2018 - 2030)

• Accessories

  • Bags

  • Jewelry

  • Hats

  • Eyewear

  • Others

• Footwear

  • Casual Shoes

  • Formal Shoes

  • Sports Shoes

  • Sandals

  • Others

• Apparels

  • Casual Wear

  • Formal Wear

  • Sportswear

  • Night Wear

  • Inner Wear

  • Ethnic Wear

  • Others

Vegan Women's Fashion Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• E-commerce

• Hypermarkets/Supermarkets

• Departmental Stores

• Specialty Stores

• Others

Vegan Women's Fashion Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Africa

List of Key Players in the Vegan Women's Fashion Market

• MATT & NAT CANADA

• MooShoes

• Will's Vegan Shoes

• BHAVA NY

• GANNI A/S

• ENVELOPE 1976 INTERNATIONAL

• THOUGHT CLOTHING UK

• Mayamiko

• Whimsy & Row

• Reformation

• Faithfull the Brand

• Stine Goya

• Hiraeth Collective