The Latin America, Middle East and Africa Vegan Footwear Market would witness market growth of 12.2% CAGR during the forecast period (2021-2027).
Veganism is a lifestyle, in which a person eliminates all the animal-based products from their living being. By adopting veganism, customers can minimize their healthcare costs, decrease greenhouse gas emissions and reduce climate damages. Due to these benefits, people across the world are adopting this way of living, and therefore, the demand for animal-based products has witnessed a decline in the last few years. This trend has been noticed by the companies and hence, they are implementing various strategies to gain a significant share in the vegan footwear market.
The adoption of vegan footwear helps in keeping the environment free from chemicals and reduced carbon footprints because they are made from less harmful substances and easily decomposable raw materials.
With the growing popularity of using eco-friendly products among customers, companies are highly adopting renewable and environment-friendly raw materials in order to cope with the vegan trend across developing nations.
For instance, Marks & Spencer unveiled their vegan footwear and food products in UAE, which is helping vegan people to fulfill their demand for various vegan products. These kinds of geographical expansion strategies adopted by various market players would support the vegan culture emerging in developing and underdeveloped countries.
The Brazil market dominated the LAMEA Vegan Footwear Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $646.1 million by 2027. The Argentina market is estimated to witness a CAGR of 13.2% during (2021 - 2027). Additionally, The UAE market would experience a CAGR of 11.7% during (2021 - 2027).
Based on end-user, the vegan footwear market is fragmented into men, women, and others. Based on distribution channel, the vegan footwear market is divided into specialty stores, supermarkets/hypermarkets, convenience stores, and others. Based on material type, the vegan footwear market is classified into polyurethane, recycled plastics, microfiber, and others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Vegan Footwear Market is Predict to reach $32.05 billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Avesu GmbH, Garamont International Srl, Matt & Nat, MooShoes, Adidas AG, Nike, Inc., PUMA SE, Under Armour, Inc., and ASICS Corporation.
By End user
By Distribution Channel
By Material Type
By Country
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