According to various market reports and analyses, the women’s segment is expected to be the fastest-growing segment in the vegan footwear market
With rising awareness, there has been a significant demand for animal-free alternatives, leading to the growth of the vegan footwear industry.
India has seen a growing trend towards veganism in recent years, and this trend is extending to the fashion industry, particularly in the realm of footwear. More and more Indian consumers are looking for alternatives to traditional leather shoes, and some brands are now responding by offering high-quality, stylish vegan options. The popularity of veganism has grown exponentially, with more people choosing to adopt a plant-based lifestyle for ethical, health, and environmental reasons. This trend has had a significant impact on various industries, including fashion and footwear.
The traditional footwear industry has long relied on animal products, such as leather and suede, to make their shoes. However, with the rising awareness, there has been a significant demand for animal-free alternatives, leading to the growth of the vegan footwear industry. “Vegan footwear is made without the use of any animal products, including leather, fur, wool, and silk. Instead, they use materials such as microfiber, recycled plastic, and natural materials like cork, rubber, and hemp,” says Veena Ashiya, CEO and Founder, Monrow Shoes.
Global vegan footwear market size is estimated at USD 157,898.2 Million in 2020. It is expected to reach USD 3,199.6 Million by 2030, growing at a CAGR of 6.8% from 2021 to 2030. New government initiatives for reducing plastic waste and carbon footprint have encouraged footwear manufacturers to invest in the development of sustainable manufacturing methods.
According to various market reports and analyses, the women’s segment is expected to be the fastest-growing segment in the vegan footwear market. “This is primarily due to the demand of vegan footwear options for women in the market, as well as the growing awareness and preference for sustainable and ethical fashion choices among female consumers,” adds Ashiya.
Ashiya feels many fashion brands are now offering vegan footwear options for women, including sneakers, sandals, boots, and more. In addition, there is a growing demand for vegan footwear that not only meets ethical and sustainable standards but also offers style and comfort.
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As a result, the women’s segment is projected to witness significant growth in the coming years, with more and more consumers opting for vegan footwear as their preferred choice. This trend is expected to drive the overall growth of the vegan footwear market, with new players entering the market and existing players expanding their offerings to cater to this growing demand.
Ashiya shares some advantages of vegan footwear:
- Cruelty-free: Vegan footwear is made without the use of animal products, so it eliminates any kind of cruelty towards animals.
- Eco-friendly: Vegan footwear is made from sustainable materials like plant-based fabrics, which reduces the carbon footprint of the manufacturing process.
- Healthier for feet: Vegan footwear is breathable and flexible, allowing your feet to move naturally, which reduces the risk of developing foot problems.
- Variety: Vegan footwear is available in a variety of styles, designs, and colours that can match any outfit.
- Cost-effective: Vegan footwear is often more affordable than leather or suede footwear, making it a more cost-effective option for consumers.
- Durable: Vegan footwear is made from high-quality materials that are strong, durable, and long-lasting, so it will save you money in the long run.
- Socially responsible: Supporting vegan footwear fashion promotes a more socially responsible and sustainable fashion industry, which is essential for the well-being of the environment and society.
The rise of vegan footwear in India is part of a broader global trend towards more ethical and sustainable fashion choices. As more people choose to adopt a plant-based lifestyle, the demand for animal-free alternatives will continue to grow, leading to further innovation and disruption in the traditional footwear industry. With the growing popularity of vegan footwear in India, it is likely that we will continue to see more innovative and stylish options in the near future.
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