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The vegan cosmetics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Vegan Cosmetics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The vegan cosmetics market size has grown strongly in recent years. It will grow from $17.24 billion in 2023 to $18.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to growing awareness of animal cruelty in cosmetics, increased demand for natural and organic beauty products, rise in health and environmental concerns, celebrity endorsements and influence, expansion of veganism as a lifestyle choice.
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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Scope Of Vegan Cosmetics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Vegan Cosmetics Market Overview
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
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
Key Companies –
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
1. Executive Summary
2. Vegan Cosmetics Market Report Structure
3. Vegan Cosmetics Market Trends And Strategies
4. Vegan Cosmetics Market – Macro Economic Scenario
5. Vegan Cosmetics Market Size And Growth
…..
27. Vegan Cosmetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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