Global Vegan Cosmetics Market is valued at USD 16.30 Billion in 2021 and is expected 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, 2022-2028- Increasing demand of harmful chemical-free vegan cosmetics, rising awareness against the use of animal derivatives during production of beauty products and growing social media movements endorsing naturally derived products are major factors anticipated to drive the growth of the Global Vegan Cosmetics Market.
Vegan cosmetics are cosmetics having ingredients of plant origin. Animal originals are not allowed in vegan cosmetics like honey, milk, beeswax or lanolin, because they are derived from animals. Natural cosmetics also contain components of like milk and honey therefore they are cannot used by vegan people. The cosmetic products labeled the vegan flower from the vegan society in England designates that a cosmetic product is one hundred percent vegan these products do not contain any components derived from animals and were not experienced on animals. In order for a product to have this seal, it must meet certain criteria like the product must be free from animal-based components or animal by-products, using materials derived from animals is also banned during the production process. Eye shadow, blush, lipstick and foundation are, vegan nail polishes are some options in vegan cosmetics which are becoming increasingly available.
Vegan cosmetic products and accessories come with packaging that’s manufactured from recycled materials which support eco-friendly Company or brand. Their components list does not include synthetic and cruel chemicals. The revolting ingredients such as SLSs, parabens, dyes, silicones, etc. can be harmful for everyone vegan cosmetics unlikely to cause an allergic reaction. The deficiency of chemical compounds and animal-by products suited to sensitive skin populace. Vegan cosmetic products are also probably to be cruelty- free and are biodegradable and environmentally friendly.
The Covid-19 pandemic has also impacted the global vegan cosmetics market. During Covid-19 pandemic, due to lockdown-imposed, the working women and college-going girls are at home so the demand of cosmetics was decreased. Due to the restrictions in travelling and raw material supply chain disruptions the vegan cosmetics market growth was also slowed down. However, change in consumer’s inclination during the pandemic led to follow healthier cosmetics options causing the sales of organic and vegan products to enlarge, also improved tendency of online shopping, personal business brands promoted the market positively post-pandemic.
The global vegan cosmetics market is segmented on the basis of product type, distribution channel and region & country level. Based upon the product type, the vegan cosmetics market is classified into facial cosmetics, eye cosmetic products, lip and nail make-up product, hairstyling and colouring products and others. Based upon distribution channel, the vegan cosmetics market is classified into supermarkets/hypermarkets, convenience stores, specialty stores, online retailing and other.
By Product Type:
The regions covered in global vegan cosmetics market report are North America, Europe, Asia-Pacific, Latin America and 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.
Some of the key players for global vegan cosmetics market are
On July 1st, 2021; Kylie Cosmetics had relaunched new clean, vegan formulas and updated packaging. The company launched a new direct-to-consumer website where fans could shop both Kylie Cosmetics and Kylie Skin. 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.
On April 10th, 2021; Entertainer, model and candid enemy of vaxxer Jenny McCarthy had launched a vegan beauty care products brand-Formless Beauty. The product offering is environmental friendly, cruelty-free and made with components that are straightforward. The brand is additionally made in the United States. For its first fall, Formless Beauty has divulged three lip gloss tones, all various shades of pink. Each tone is named with a particular aim: Manifest, Dream and Love and prepared with components like shea spread and grapefruit seed.
One of the major factors driving the growth of global vegan cosmetics market is increasing demand of harmful chemical free vegan cosmetic products. The increasing number of individuals choosing as vegan beauty products which have no dead animal by-products so it protects delicate skin. These by-products consist of like uric acid extracted from cows, dead insect extracts, and beeswax, also vegan products are best to people having sensitive skin and superior performance-wise as they contain ingredients in them. For instance; The Omnium Group developed the skin soft moisturizer and vitamin C collagen inoculation serum. These products were never tested on animals and do not include any animal items or components. Thus, the making of inventive cruelty-free and vegan goods are boosting the of vegan cosmetics market.
In addition, rising environmental awareness and strict government rules to cruelty-free cosmetics have inclined clients towards animal-free products. For example; foundations like People for the Ethical Treatment of Animals (PETA) declared that items like skincare fundamentals, cosmetics, CBD-infused beauty items, was not tested on animals at any phase of the product development. These regulations further driving the market growth. For example; in 2016, the Personal Care Products Safety Act; proposed by Senator Dianne Feinstein and Senator Susan Collins, would give the FDA the power to direct the security of beauty items.
Furthermore, growing social media movements endorsing for naturally derived products also drives market growth. These days’ beauty blogs by social media influencers produce interactive technologies that permit the making or sharing/exchange of information, interests, ideas, and other forms of expression through practical communities and networks. Thus, new beauty products are easily advertised to people through social media which drives the market of vegan cosmetics market.
However, a limited number of products may hamper the growth of the vegan cosmetics market. In spite of that, increasing prominence research and development activities related to vegan products and rapid advancement in the cosmetics industry can provide various opportunities for the further development of the global vegan cosmetics market.
Europe is expected to capture the major share for the global vegan cosmetics market due to the increasing demand for natural and organic products, advancements in the cosmetics industry and presence of key players in this region. Major part of European consumers prefers vegan brand. Vegan beauty product sales have increased substantially in the United Kingdom alone during the past few years by which there is a requirement of secure, organic and natural items. The properties of vegan cosmetics like long-lasting safety, and clinical properties led to a majority of companies launching items with naturally occurring constituents. For example; as per the news published on September 10th, 2019; Avon UK launched its initial vegan and environmentally friendly skin care line ‘Distillery’ following numerous years of scientific research.
North America is also expected to witness significant growth in the global vegan cosmetics market due to the presence of key players, high disposable income and rising adoption of vegan beauty products in this region. For instance; in December 2019, the Coty-possessed magnificence brand ""CoverGirl"" revealed its new Clean Fresh assortment of cosmetics fundamentals, flaunting vegan recipes and natural components like coconut milk and aloe extricates.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 16.30 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 25.53 Billion|
|Tables, Charts & Figures:||175|
|Vegan Cosmetics Manufacturers||Grupo Boticario, L’Oreal, Unilever, Huda Beauty, P&G, Johnson & Johnson, PHB Ethical Beauty, Beiersdorf, Natura, Avon, Billy Jealousy, Cover FX and others.|
|Segments Covered||By Product Type, By Distribution Channel|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa
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