This report is based on Vegan Leather that offers bags, clothes and other vegan leather made products to customers. The report will cover trends, gaps and opportunities present in vegan market. Along with this, it will also cover research and products of vegan leather brands and competitor’s analysis.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Market Research Of Vegan Leather
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents Introduction.................................................................................................................................................3 Vegan leather market...............................................................................................................................3 Product and service of Vegan Leather brands..........................................................................................4 Competitive Analysis..............................................................................................................................5 Conclusion...................................................................................................................................................6 References...................................................................................................................................................7
Introduction In market, there are ample of opportunitieswhich allowan entity to grow and expand significantly. Market research is about gathering valuable information from the market place so that a company can structure suitable strategies. Market research is also helpful in terms of ensuring long-term sustainability in the competitive environment(Minh and Ngan, 2021). The present report is based on Vegan Leather that offers bags, clothes and other vegan leather made products to customers. Their products are 100% plastic free and has compostable packaging. The report will cover trends, gaps and opportunities present in vegan market. Along with this, it will also cover research and products of vegan leather brands and competitor’s analysis. Main Body Vegan leather market Vegan leather marketis growing as the people are demanding for vegan leather which is easily compostable. Here, vegan leather is made from sustainable materials such as pineapple leaves, apple peels and other fruits. In addition, they also make use of plastic to produce necessary products. The market size of global vegan leather market was nearly 33.7 billion USD in 2020(Synthetic Leather Market Size, Share & Trends Analysis Report By Type, 2020). Trends:The production of vegan leather is being done as per the trend. As the people have become more conscious regarding the environment and sustainability, therefore, the trend o f vegan leather is also improving significantly(Ramchandani and Coste-Maniere, 2020). Gaps:Still, there are certain people who are not familiar with the significance of vegan leather. This lack of awareness put a profound impact on the overall sales and profit margin of thecompany.Itwilldirectlyaffectthesales&profitmarginoftherespectiveentity significantly. Opportunities in target market:The major target people of vegan leather are such people who are conscious about environment. These individuals are likely to prefer vegan leather as it is sustainable and environmental friendly(Rathinamoorthy and Kiruba,2020). There is opportunity to maintain proper communication within target market to ensure high sales & revenue in the future period of time.
Product and service of Vegan Leather brands There are ample of Vegan leather brand that offer sustainable and environmental friendly products. Here, the brands are likely to offer different products such as shoes, accessories, bags and more. These all products have been made by following sustainable practice. Also, the sustainable raw materials such as pineapple leaves, apple peels and more are used to produce different products of vegan leather brands. These products comprises higher quality and also save the environment. By keeping the demand off the customers in mind, brands also include creative features in the products so that they can make the products useful for the buyers(Nayak and et. al., 2020). Therefore, the major products of vegan leatherbrands are shoes, accessories, bags and more which are made by sustainable materials. Competitor ‘s mind map: Higher Price Lower qualityHigher Quality Stella Mcartney Doshi Will’s vegan shoes
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
LowerPrice Competitive Analysis Doshi:ThebrandisbasedonCaloforniaandspecializedinveganleathersbag, accessories, belts and more. The main aim of the respective brand is to offer high quality alternatives of leather which are sustainable too(Sperou, 2021). The target market of Doshi are working professionals, travelers or people who are looking for versatile fashion. Us of the respective brand is the quality of material they use to produce the end products Stella Mcartney:This brand ofvegan leather was launched in 2001 to offer luxury, crutley free clothing including bags, shoes and other such accessories. The main aim of the respective brand is to demonstrate how faux leather can push the boundaries of luxury fashion. TheUSPistheresearchanddevelopmentofthecompanytomakeitsproductmore sustainable13 Luxury Vegan(Leather Brands For Bag And Shoe Lovers, 2022). Will’s vegan shoes:Here, main focus is on producing sustainable, fashionable, fairly priced footwears. The designs of this brand is continuously in demand. This brand is based on London and offers the sustainable products to the customers in significant manner.The USP is the sustainable approach of the company to make shoes with eco-friendly and animal friendly materials.
Conclusion Out of the above-mentioned information, it is analyzed that market research is highly crucial to gather significant amount of information. It is monitored that the demand of vegan leather products are increasing due to the environmental friendly attitude of the people. Further, there are a lot of competitors of vegan leather brand to offer sustainable and environmental friendly products to the buyers.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
References Books and journals Minh, N.T. and Ngan, H.N., 2021, September. Vegan leather: An eco-friendly material for sustainablefashiontowardsenvironmentalawareness.InAIPConference Proceedings(Vol. 2406, No. 1, p. 060019). AIP Publishing LLC. Nayak and et. al., 2020. Sustainable technologies and processes adapted by fashion brands. InSustainableTechnologiesforFashionandTextiles(pp.233-248).Woodhead Publishing. Ramchandani, M. and Coste-Maniere, I., 2020. Leather in the Age of Sustainability: A Norm or Merely a Cherry on Top?. InLeather and Footwear Sustainability(pp. 11-22). Springer, Singapore. Rathinamoorthy, R. and Kiruba, T., 2020. Bacterial cellulose—a sustainable alternative material for footwear and leather products. InLeather and Footwear Sustainability(pp. 91-121). Springer, Singapore. Sperou,N.,2021.Greenplastics-blueocean:Thefutureofbiopolymerplasticsand textiles.Artlink,41(1), pp.34-39. Online Synthetic Leather Market Size, Share & Trends Analysis Report By Type, 2020. [Online]. Availablethrough:<https://www.grandviewresearch.com/industry-analysis/synthetic-leather- market/> 13 Luxury Vegan Leather Brands For Bag And Shoe Lovers, 2022. [Online]. Available through :<https://www.livekindly.com/luxurious-vegan-leather/>