Press release
Vegan Cosmetics Market Expected to Rise at 6% CAGR during 2023-2028
Vegan Cosmetics Market Report 2023
Report Highlights
How big is the vegan cosmetics market?
The global vegan cosmetics market is expected to exhibit a growth rate (CAGR) of 6% during 2023-2028
What are vegan cosmetics?
Vegan cosmetics are beauty and skincare products formulated without the use of any animal-derived ingredients or by-products. These products solely rely on plant-based or synthetic ingredients that mimic the functions of animal-based elements commonly found in conventional cosmetics. Vegan cosmetics also typically exclude testing on animals, aligning with a broader ethical stance. The range of products in this category spans from makeup items like lipsticks and eyeliners to skincare essentials such as moisturizers and cleansers. The aim is to offer consumers an ethical alternative that ensures both personal beauty and the well-being of animals are considered. As a result, vegan cosmetics are gaining immense traction across the globe, especially among the younger generation, who are increasingly conscious of their consumer choices.
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What are the growth prospects and trends in the vegan cosmetics industry?
The global vegan cosmetics market is primarily driven by the rising consumer awareness about ethical and cruelty-free products and the increasing concerns for animal welfare. Moreover, the growing influence of social media and celebrity endorsements play a crucial role in promoting vegan cosmetics to a wider audience. Along with this, the advent of innovative products that offer comparable or superior quality and effectiveness to traditional cosmetics is attracting a broader consumer base, thus fueling market growth. In addition, regulations against animal testing in cosmetics, particularly in regions like Europe, further propel the market growth. Besides this, the emergence of eco-friendly packaging solutions in the vegan cosmetics sector resonates with the consumer demand for sustainable practices, adding another layer of appeal and supporting market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
Skin Care
Hair Care
Makeup
Others
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Convenience Stores
Specialty Stores
Online Stores
Others
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Arbonne International LLC (Yves Rocher)
Billy Jealousy LLC
Coty Inc. (Cottage Holdco B.V.)
Debenhams Retail Ltd. (Celine Jersey Topco Limited)
Gabriel Cosmetics Inc.
Kosé Corporation
L'Oréal S.A.
Lush Retail Ltd.
MuLondon Ltd.
Shiseido Company Limited.
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