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Veganism has become a market trend in recent years and the fashion and beauty industry has moved quickly to join the movement. Rising awareness of animal cruelty is driving the vegan market growth.
Today approximately 5% of the world population is vegan, vegetarian, or plant-based, a solid market of 400 million conscious people with an annual growth of approximately 8%.
The global Vegan Food Market is expected to grow by 11,4% during 2021-2026. In 2020 it reached a value of US$ 17 billion. The global vegan Women’s Fashion market size was valued at US$ 396 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 13,6% from 2020 to 2027.