Global Vegan Beauty Products Market || L'Oreal, Estee Lauder, P&G, Unilever, Cosmax Inc, Johnson & Johnson, Grupo Boticario, Beiersdorf, Coty, Natura, Groupe Rocher.

A vegan product is a product that does not contain any animal ingredients or animal-derived ingredients. It also means that ingredients/components as well as the final product are free from animal testing since these tests are often painful and cause the suffering and death of millions of animals every year. The global vegan beauty products market accounted for US$ 14.3 billion in 2019 and is estimated to be US$ 25.3 billion by 2029 and is anticipated to register a CAGR of 5.9%.

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Impact of Covid-19 pandemic on market

The beauty products industry has observed a decline in its market due to the outbreak of the COVID 19 pandemic. Brands are also focusing on expanding their supply chains in terms of increasing their E-commerce channel along with providing at-home wellness products, which are highly suited in this volatile business environment. This report will quantify the impact of this pandemic on the vegan beauty products market.

Drivers and Restraints:
Consumer Performance Shift towards Plant-Based Ingredients

Growing consumer preference towards cruelty-free and plant-based products stimulated by ethical-led choices, involving personal care products. This, in turn, is possible to create countless opportunities for the manufacturers of vegan beauty products over the forecast period. Consumers are shifting their preference from chemical-based beauty products, owing to safety reasons, and are drawn towards ‘natural’ and ‘safe’ products. This, in turn, is likely to drive the adoption of vegan beauty products in the coming years. Furthermore, a growing number of social media channels and beauty bloggers are promoting makeup hacks using vegan beauty products. This, in turn, is boosting manufacturers of vegan beauty products.

Availability of counterfeit products

Counterfeiting in the vegan beauty products space is a result of the lack of standardized regulations to draw a distinction between authorized products and fraudulent ones, which results in unreasonable competition for the legitimate market players. Vegan products have a shorter shelf life as compared to synthetic products, which is a key factor hampering the adoption of vegan beauty products.

Market Purview
Executive Summary
Key Findings—Global Outlook for Vegan Beauty Products Strategies
Key Questions this Study will Answer
Market Snippet, By Product Type
Market Snippet, By Customer Orientation
Market Snippet, By Nature
Market Snippet, By Price Range
Market Snippet, By Sales Channel
Market Snippet, By Region
Opportunity Map Analysis
Executive Summary—3 Big Predictions

L'Oreal
Company Overview
Product Portfolio
Key Highlights
Financial Performance
Business Strategies
Estee Lauder
P&G
Unilever
Cosmax Inc.
Johnson & Johnson
Grupo Boticario
Beiersdorf
Coty
Natura
Groupe Rocher
Gabriel Cosmetics

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This release was published on openPR.