Vegan Cosmetics Market Size is Projected To Reach USD 25.53 Billion by 2028 | At a CAGR of 6.7%

21 Mar 2022

Global Vegan Cosmetics Market is valued at USD 16.30 Billion in 2021 and is Anticipated to Reach USD 25.53 Billion by 2028 with a CAGR of 6.7% over the forecast period.

Global Vegan Cosmetics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2021-2027, Increasing demand for harmful chemical-free vegan cosmetics, raising awareness against the use of animal derivatives, and growing social media movements endorsing naturally derived products are major factors anticipated to drive the growth of the Global Vegan Cosmetics Market.

Scope of Global Vegan Cosmetics Market Report

Vegan cosmetics are cosmetics that have ingredients of plant origin. Animal-originated ingredients are not allowed in vegan cosmetics like honey, beeswax, carmine, cholesterol, gelatin, lanolin, collagen, albumen, and many others because they are derived from animals. Natural cosmetics also contain components of animals like milk and honey therefore they are cannot be used by vegan people. Vegan eye shadow, blush, lipstick, foundation, nail polish are some options in vegan cosmetics that are increasingly available in the market. The absence of chemical compounds and animal-by products suited to sensitive skin people. Vegan cosmetic products are biodegradable and environmentally friendly. Currently, many beauty companies focusing on the production of vegan cosmetics that are cruelty-free means that, not only testing on animals and offer a mostly vegan selection of items.

The Covid-19 pandemic has also impacted the growth of the global vegan cosmetics market. Due to the restrictions in traveling and raw material supply chain disrupted, hence, the vegan cosmetics market growth slowed down during the Covid-19 crisis. However, changes in customers’ preferences during the pandemic led to the pursuit of healthier cosmetics options causing the sales of organic and vegan products to increase, also increased the trend of online shopping, eCommerce, private business brands promoted the market positively post-pandemic.

Vegan Cosmetics Manufacturers

Some of the key players for the global vegan cosmetics market are Emma Jean Cosmetics, Modern Mineral Makeup, Coty, Zuzu Luxe, Ecco Bella, Beauty Without Cruelty, Billy Jealousy, MuLondon Bare Blossom, Urban Decay, Arbonne, Pacifica, Nature’s Gate, Organic and others.

Global Vegan Cosmetics Market Segmentation

Global vegan cosmetics market is segmented on the basis of product type, distribution channel, and region & country level. On the basis of product type, the vegan cosmetics market is segmented into skincare, hair care, makeup, and others. On the basis of distribution channels, the vegan cosmetics market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retailing, and others.

By Product Type:

Skin Care

Hair Care

Makeup

Others

By Distribution Channel:

Supermarkets/Hypermarkets

Convenience Stores

Specialty Stores

Online Retailing

Others

The regions covered in global vegan cosmetics market report are North America, Europe, Asia-Pacific, Latin America, and the Rest of the World. On the basis of country level, the market of global vegan cosmetics is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.

News: Coty Relaunched Kylie Cosmetics as a Clean, Vegan Brand

On July 6th, 2021; Coty Inc. is an American multinational beauty company. Coty recently relaunched Kylie Cosmetics with new and improved formulas that are clean and vegan as well as refreshed packaging. According to the brand, the updated formulas made without animal oils, parabens, gluten, and more than 1,600 potentially harmful and irritating ingredients. The new collection featured lip kits, high glosses, matte liquid lipsticks, lip liners, lip blushes, and gel eyeliners.

Increasing Demand of Harmful Chemical-free Vegan Cosmetics, Rising Awareness against Use of Animal Derivatives and Growing Social Media Movements Endorsing Naturally Derived Products are Major Factors Driving the Market Growth

One of the major factors driving the growth of the global vegan cosmetics market is the increasing demand of harmful chemical-free vegan cosmetic products. For example; the increasing number of individuals choosing as vegan beauty products due to increasing skin diseases and animal love. Vegan products are best to people having sensitive skin. For example; the skin soft moisturizer and vitamin C collagen booster serum developed by The Omnium Group. These products were never tested on animals and do not contain any animal products or ingredients. Hence, the production of innovative cruelty-free and vegan products is boosting the of vegan cosmetics market within the forecast period.

In addition, rising awareness against use of animal derivatives, growing environmental awareness, and stringent government rules to cruelty-free cosmetics have shifted consumers towards animal-free products and are also supplementing the vegan cosmetics market growth. For example; foundations like PETA (People for the Ethical Treatment of Animals) stated that products like cosmetics, skincare essentials, CBD-infused beauty products, was not tested on animals at any stage of the product development. These regulations further drive the vegan cosmetics market growth. For example; as the Personal Care Products Safety Act, will give the power to FDA to direct the security of beauty items in 2016.

Furthermore, growing social media movements endorsing naturally derived products are also fostering the growth of the global vegan cosmetics market. Nowadays beauty blogs by social media influencers create interactive technologies that allow the creation or sharing/exchange of information, ideas, interests, and other forms of expression via virtual communities and networks. Thus, new beauty products are easily advertised to people via social media which is, in turn, driving the market of the vegan cosmetics market.

However, an unstable regulatory framework and lack of awareness among people about vegan cosmetics products may hamper the market growth. In spite of that, the increasing prominence of research and development activities related to vegan products and rapid advancement in the cosmetics industry can provide various opportunities for the further growth of the global vegan cosmetics market.

North America is Expected to Dominate the Global Vegan Cosmetics Market

North America is expected to dominate the global vegan cosmetics market within the forecast period due to the presence of various manufacturers and suppliers of vegan cosmetics products, rising disposable income, and increasing preference of consumers for plant-based beauty products due to various health and environmental concerns in this region. In addition, the increasing number of product offerings by key players in this region is also supplementing the market growth. For example, on November 29th, 2018; Henkel launched organic vegan beauty brand N.A.E. German consumer goods group Henkel's  continuously aiming to establish new growth paths in the challenging sector of the beauty market

Europe is expected to witness significant growth in the global vegan cosmetics market within the forecast period due to the increasing demand for natural and organic products and growing consumer awareness about the injurious effects of certain compounds like paraben and aluminum compounds present in skincare, hair care, and deodorants in this region. Therefore, a high section of European consumers choose vegan brand beauty products,  sales have increased substantially in the United Kingdom alone during the past few years by which there is the demand for safe, organic, and natural products, the properties of vegan cosmetics such as long-lasting protection, and clinical properties. For example, in 2019 Avon UK launched its first vegan and eco-friendly skincare line ‘Distillery’. The products include SPF25 day cream, night cream, cleansing balm, vitamin C powder, and purifying oil.    

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Sweden
Netherland
Turkey
Switzerland
Belgium
Rest of Europe

Asia-Pacific

South Korea
Japan
China
India
Australia
Philippines
Singapore
Malaysia
Thailand
Indonesia
Rest Of APAC

Latin America

Mexico
Colombia
Brazil
Argentina
Peru
Rest of South America

The Middle East and Africa

Saudi Arabia
UAE
Egypt
South Africa
Rest Of MEA

Key Benefits of Global Ionic Liquid Market Report:-

Global Ionic Liquid Market report covers in-depth historical and forecast analysis.

Global Ionic Liquid Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.

Global Ionic Liquid Market report helps to identify opportunities in the marketplace.

Global Ionic Liquid Market report covers an extensive analysis of emerging trends and competitive landscape.

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