Global Vegan Women’s Fashion Market Insights Forecasts to 2033

• The Global Vegan Women’s Fashion Market Size was Valued at USD 456.3 Billion in 2023
• The Market Size is Growing at a CAGR of 13.77% from 2023 to 2033
• The Worldwide Vegan Women’s Fashion Market Size is Expected to Reach USD 1657.8  Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Vegan Women’s Fashion Market Size is Anticipated to Exceed USD 1657.8 Billion by 2033, Growing at a CAGR of 13.77% from 2023 to 2033.

Market Overview

Women's vegan fashion is defined as apparel and accessories made without materials originating from animals, including fur, leather, wool, and silk. Cotton, hemp, or recycled polyester is instances of synthetic or plant-based fibers used to make these clothing products. These encompass a broad variety of products, including specialty products such as evening gowns, purses, shoes, and makeup, as well as regular clothing like shirts, skirts, and pants. Consumers' growing awareness of animals as living beings with experiences similar to humans has contributed to increased social acceptability of these products, which is fueling the market. Due to the increased public awareness of animal cruelty and animal products, well-known firms have also started to adopt a vegan approach by refusing utilizing any animal products. Fur is produced from about 100 million animals, according to People for the Ethical Treatment of Animals (PETA). Products created without using any animal derivatives are becoming growing in popularity with consumers. To reduce their dependency on animal fur, big businesses are implementing replacement fur. Furthermore, the market grows as a result of social media's growing influence and social media influencers' promotion of using vegan and cruelty-free products.

Report Coverage

This research report categorizes the market for the vegan women’s fashion market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the vegan women’s fashion market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the vegan women’s fashion market.

Driving factors

Growing veganism approval as a result of increased public awareness of animal cruelty and rising disposable income is driving the growth of the vegan women's fashion industry. Additional factors driving market expansion are the increasing veganism of the fashion sector and the prevalence of e-commerce, particularly in emerging nations. E-commerce retail platforms have grown as a key driver in the distribution of vegan women's fashion products. Online shopping is becoming an increasingly popular way for people to view and purchase numerous vegan fashion products due to its convenience and accessibility.

Restraining Factors

Vegan clothing can be priced higher than traditional clothing, particularly when created from premium, sustainable materials. For some customers, this disparity in price can be a major barrier, making it harder to find ethical and cruelty-free clothing options.

Market Segmentation

The vegan women’s fashion market share is classified into product and distribution channel.

• The footwear segment is dominating the market with the largest revenue share through the forecast period.

Based on the product, the vegan women’s fashion market is categorized into accessories, footwear, and apparel. Among these, the footwear segment is dominating the market with the largest revenue share through the forecast period. Vegan footwear produced without animal by-products or materials, including leather, suede, wool, and fur, provides the wearer with an attractive and stark style, which has increased the popularity of these shoes among women of any age. The market is expanding due to the growing demand for vegan and cruelty-free shoes, which are frequently bought in numerous styles for diverse settings, including formal dress, casual wear, and sporting shoes.
 

• The specialty stores segment is expected to hold a significant market share through the forecast period.

Based on the distribution channel, the vegan women’s fashion market is categorized into e-commerce, hypermarkets/supermarkets, departmental stores, specialty stores, and others. Among these, the specialty stores segment is expected to hold a significant market share through the forecast period. This is due to their tendency to stock a carefully selected collection of vegan fashion products that are suited to the tastes and ideals of a selective customer base, specialty stores have become the primary channel of distribution for vegan women's fashion. Customers adore buying vegan women's fashion products from these retailers because they offer a variety of vegan products under one roof.

Regional Segment Analysis of the Vegan Women’s Fashion Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the vegan women’s fashion market over the predicted timeframe.

North America is anticipated to hold the largest share of the vegan women’s fashion market over the forecast period. The growing demand in the region is driving the market for fashionable, comfortable vegan fashion wear. Many manufacturers serve ethical consumers searching for clothing made without using any animals by providing stylish vegan shirts, jackets, and accessories. Furthermore, the marketing of numerous celebrities and influencers promoting veganism in the fashion business climbed. Furthermore, consumers can choose vegan products because of the region's strong economy, relatively high standard of living, and disposable money, which are fueling the market's expansion.

Europe is expected to grow at the fastest CAGR growth of the vegan women’s fashion market during the forecast period. One of the primary causes influencing the expanding demand for vegan garments in Europe is the growing luxury of the fashion industry. European customers are become increasingly attentive to ecological and ethical fashion options, especially millennials who are fashion-forward. People are searching for products a growing number that reflect their ideals of animal care, sustainability, and compassion. Thus, among this group of people, the acceptance of vegan clothing has grown significantly.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the vegan women’s fashion market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GANNI
• Vegan leather
• Vegan Fabric
• Reformation
• Hemp-based Fabric
• Whimsy & Roy
• Stine Goya
• Mayamiko
• Hiraeth Collective
• Organic Cotton
• Natural Leather Alternative etc.
• Faithfull the Brand
• MATT & NAT
• MooShoes
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In May 2023, Gucci, an Italian fashion house, declared that it would be fur-free. Gucci is one of the most well-known fashion businesses to make this promise, and its move is expected to have far-reaching consequences for the industry.
• In October 2022, Ganni, a Danish fashion brand, collaborated with Spanish material research company Pyratex to create a grey apparel collection created from banana waste biomaterial.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the vegan women’s fashion market based on the below-mentioned segments: 

Global Vegan Women’s Fashion Market, By Product

• Accessories
• Footwear
• Apparel

Global Vegan Women’s Fashion Market, By Distribution Channel

• E-commerce
• Hypermarkets/Supermarkets
• Departmental Stores
• Specialty Stores
• Others

Global Vegan Women’s Fashion Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa