Luxury Vegan Men's Fashion Market Regional Estimates & Trend Analysis 2028

Luxury Vegan Men’s Fashion Industry Overview

The global luxury vegan men’s fashion market is anticipated to reach USD 40.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.9% from 2021 to 2028. The rising number of High-Net-worth Individuals (HNWI) and the growing popularity of vegan clothing and accessories made from cruelty-free sources among the millennial and Gen Z population across the world are anticipated to fuel the industry growth over the forecast period.

U.S. luxury vegan men’s fashion market size, by product, 2018 - 2028 (USD Billion)     

Luxury Vegan Men’s Fashion Market Segmentation

Grand View Research has segmented the global luxury vegan men’s fashion market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Accessories, Clothing & Apparel, Footwear.

  • The footwear segment dominated the market for luxury vegan men’s fashion and accounted for the largest value share of over 40.8% in 2020. This product segment is projected to witness a CAGR of over 10.7% over the forecast period. An increasing number of startups venturing into vegan footwear is driving the demand. Additionally, many conventional footwear brands including Adidas, Nike, and Rebook are also offering vegan footwear owing to increasing demand from conscious consumers.
  • The accessories segment is projected to witness the fastest CAGR of 11.8% from 2021 to 2028. The increasing number of options available for men for bags and wallets in terms of style and fabric is likely to lead to a growing demand for the accessories segment over the forecast period. The strong presence of key companies in North America and Europe, where the product awareness is higher, will further boost the market growth.

Based on the Distribution Channel Insights, the market is segmented into E-commerce, Hypermarket/Supermarket, Departmental Stores, Specialty Stores, and Others.

  • E-commerce is projected to witness a CAGR of 11.7% over the forecast period. Globally, the online channel has become highly popular among millennials, primarily owing to the convenience it offers. The rapid expansion of e-commerce and growing digitalization, especially among millennials and the younger generation, globally, are driving the online sales of luxury vegan men’s fashion. Additionally, the easy payment options and busy lifestyles of consumers are expected to increase the revenue from the online distribution channel over the forecast period.
  • The specialty store segment dominated the market for luxury vegan men’s fashion and accounted for the largest revenue share of 23.8% in 2020. Specialty stores specialize in the distribution of certain products-in this case, luxury vegan men’s fashion. Unlike mass merchandisers, specialty stores are relatively smaller format stores that focus on niche products. As these stores target a specific group/type of shoppers, they are strategically located in cities across the country.

Luxury Vegan Men’s Fashion Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa

Key Companies Profile & Market Share Insights

Prominent market players are likely to focus on establishing their businesses and invest in research and development activities to remain competitive over the forecast period. The vegan fashion market is both growing and transitioning toward the concept of sustainability as it offers an opportunity for brands to capture sales from increasingly environmentally conscious consumers. Established companies have been altering their production methods pertaining to vegan and eco-friendly materials to align themselves with changing trends.

Some of the prominent players operating in the global luxury vegan men’s fashion market include,

  • Komodo Fashion
  • ECOALF
  • Brave GentleMan
  • Rapanui
  • Tact & Stone
  • THOUGHT CLOTHING
  • BARO
  • CARPASUS
  • Wuxly Movement
  • BCH

Order a free sample PDF of the Luxury Vegan Men’s Fashion Market Intelligence Study, published by Grand View Research.

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