This study aims to analyze Instagram hashtags based on big data to investigate changes in consumer trends and perceptions of vegan fashion, and to derive strategies for revitalizing vegan fashion brands based on derived results. Among social media, Instagram was selected as a collection channel, and Instagram hashtags for ‘Vegan Fashion’ were collected from July 1, 2021 to December 31, 2021. After conducting semantic network analysis with the Ucinet 6 program based on the collected data, the CONCOR analysis on vegan fashion showed the following four clusters: ‘Veganism practiced with fashion’, ‘Bag type of vegan fashion brand’, ‘Sharing vegan fashion’, and ‘Diversification of eco-friendly products’. Analysis results showed that the Instagram hashtag for vegan fashion confirmed the MZ generation’s increased interest in vegan fashion and their thoughts to recommend and share frequently used items or brand products to people around them. CONCOR analysis of vegan fashion brands showed the following four groups: ‘Differentiating the material of vegan bags’, ‘Eco-friendly products of vegan fashion brands’, ‘Interest in vegan shoes’, and ‘Donation campaign of vegan fashion brands’. CONCOR analysis on Meaningout showed the following four clusters: ‘MZ Generation’s Meaningout Start-up’, ‘...