The vegan cosmetics market size is expected to see strong growth in the next few years. It will grow to $25.61 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising consumer preference for sustainable and ethical products, increased regulatory support for cruelty-free and vegan beauty, growing focus on transparency in product labeling, expansion of the vegan demographic to include a broader consumer base, increased demand for plant-based ingredients. Major trends in the forecast period include advancements in vegan cosmetic formulations and technology, emergence of vegan and cruelty-free certifications, innovation in packaging with a focus on eco-friendly materials, integration of technology for personalized vegan beauty solutions, collaborations between beauty brands and influencers .
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Segmentation & Regional Insights
The vegan cosmetics market covered in this report is segmented –
1) By Product: Skin Care, Hair Care, Color Cosmetics, Other Products
2) By Nature: Organic, Conventional
3) By Customer Orientation: Women, Men, Unisex, Kids
4) By Distribution Channel: Hypermarkets and Supermarkets, Specialty Stores, E-commerce, Other Distribution Channles
Europe was the largest region in the vegan cosmetics market in 2023. The regions covered in the vegan cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The emerging popularity of veganism is expected to drive the growth of the vegan cosmetics market going forward. Veganism refers to abstaining from using products that are made from animals. A lot of animal abuse and animal cruelty are involved in making cosmetics. Therefore, people have been going vegan and preferring plant-based products to avoid being part of this animal cruelty. For instance, in October 2021, according to Vegan Beauty Takeover report, released by The Vegan Society it is estimated that over 80% of all the new vegan items were launched in the beauty category. Furthermore, according to Vegetarian Times, a US-based publication focused on food, culture, and lifestyle for vegetarians, in 2022, 9.7 million Americans will follow a vegetarian diet, and one million of whom will be vegan. Also, women make up 59% of plant-based eaters, while men make up 41%. Therefore, the emerging popularity of veganism is driving the demand for the vegan cosmetics market.
Key Industry Players
Major companies operating in the vegan cosmetics market report are MuLondon Organic Skincare., Loreal SA, Beauty Without Cruelty, Nature’s Gate, MO MI BEAUTY, e. l. f. Cosmetics Inc., COTY Company, Gabriel Cosmetics Inc., Groupe Rocher, Pacific Beauty, Billy Jealousy LLC, Zuzu Luxe by Gabriel Cosmetics, Emma Jean Cosmetics, Modern Mineral Makeup, Arbonne International LLC, Estee Lauder Companies Inc., Unilever plc, Cottage Holdco B. V., E. L. F. Cosmetics Company, Korres S. A. Natural Products, Beiersdorf AG, Aubrey Organics Inc., Dr. Bronner’s Magic Soaps., Desert Essence, Avalon Organics, California Baby LLC, Earth Mama Organics LLC, EO Products Inc., Nourish Organic Inc., Tata Harper Skincare., Alba Botanica, Andalou Naturals, Badger Balm, John Masters Organics, Acure Organics, Shea Terra Organics LLC
The vegan cosmetics market report table of contents includes:
1. Executive Summary
2. Vegan Cosmetics Market Characteristics
3. Vegan Cosmetics Market Trends And Strategies
4. Vegan Cosmetics Market – Macro Economic Scenario
5. Global Vegan Cosmetics Market Size and Growth
………………….
31. Global Vegan Cosmetics Market Competitive Benchmarking
32. Global Vegan Cosmetics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Vegan Cosmetics Market
34. Vegan Cosmetics Market Future Outlook and Potential Analysis
35. Appendix
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