The vegan fashion market comprises clothing made from non-animal derived textiles like cotton, bamboo, linen, soy etc. Products include apparel, accessories, shoes made using plant-based, synthetic and recycled materials. Vegan fashion is gaining popularity due to rising ethical concerns about animal welfare in the textile industry. Fur, leather, wool and silk involve harming or killing animals. Many consumers are switching to faux alternatives that look and feel like real materials without hurting animals. Additionally, vegan items are considered more eco-friendly and sustainable since plant-based production involves lower greenhouse gas emissions and water usage compared to traditional methods. The global shift towards healthier lifestyles has also boosted demand for cruelty-free fabrics.

The Global vegan fashion market is estimated to be valued at US$ 596.88 Bn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the vegan fashion market are Dell, IBM, Hewlett Packard Enterprise, Fujitsu, Lenovo, Hitachi, Toshiba, Apple, Samsung, Microsoft, Cisco, HCL Technologies, Wipro, Infosys, Tata Consultancy Services, Tech Mahindra, Unisys, Dimension Data, Getronics, CompuCom. These players are focusing on developing advanced vegan materials and introducing new product lines to capitalize on the growing market demand.

The Vegan Fashion Market Demand industry provides several opportunities for businesses including partnerships with influencers/celebrities to promote brands, hosting sustainable fashion shows/pop-ups in major cities, launching affordable mass lines for wider consumer base, innovative merchandising using AR/VR to engage online shoppers. Ecommerce has opened opportunities for global expansion with online platforms allowing brands access to international consumers.

Market Drivers:

- Increasing awareness about animal cruelty: More consumers are opting for vegan brands as they understand the inhumane practices involved in leather tanning, wool shearing, silk harvesting etc. This is a major driver.

- Health benefits of plant-based fabrics: Many plant-derived materials like bamboo, organic cotton are softer, more breathable and eco-friendly than traditional materials. This appeals to health-conscious consumers.

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