Vegan Cosmetics Market [2023-2031] Research Reports, Industry Size, Growth Opportunity, Regional Analysis | Zuzu Luxe, Ecco Bella, Bare Blossom

The global vegan cosmetics market size was US$ 14.2 billion in 2021. The global vegan cosmetics market is forecast to grow to US$ 25.2 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.

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Organic beauty products made with plant extracts and derivatives that are good for the environment are known as vegan cosmetics. Due to the absence of animal by-products or harmful chemical experimentation on animals, these products are considered to be cruelty-free.

COVID-19 Impact Analysis
The COVID-19 pandemic has had a global impact on consumer purchasing power as the rate of unemployment grew significantly. As a result, it also hampered the growth of the began cosmetics. Moreover, bans on public gatherings and travel further impeded the demand for cosmetic products, which, in turn, restricted the market growth.

Regional Analysis
Asia-Pacific is forecast to record the highest growth rate in the vegan cosmetics market. The growth of the regional market is attributed to the growing public awareness of animal cruelty. In addition, increasing demand for vegan cosmetics in countries like India, where there is an abundant availability of medicinal plants, is forecast to drive the vegan cosmetics market forward.

Factors Influencing the Market
Natural vitamins, minerals, antioxidants, gelatin, collagen, and other nutrients are abundant in vegan cosmetics. In terms of reducing skin acne, maintaining skin nutrition, and promoting skin health, these toxin-free beauty products provide a number of advantages over chemical-based cosmetics. Thus, the benefits of vegan cosmetics will significantly drive the growth of the vegan cosmetics market during the forecast period.
The growing trend of natural ingredients-based cosmetics is forecast to fuel the growth of the vegan cosmetics market. In addition, rising awareness about animal cruelty will be opportunistic for this market during the study period.

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Rising innovations in the cosmetics sector are expected to propel the market forward. In addition, the growing prevalence of skin and hair-related diseases will contribute to the growth of the vegan cosmetics market during the forecast period. Additionally, the rising popularity of veganism has prompted manufacturers to spend money on R&D, introduce new goods, and alter existing ones in order to meet the demands of customers seeking vegan products. For instance, to capitalize on the expanding demand for vegan cosmetics, especially among younger consumers, Australian company G&M introduced its line of vegan products in February 2021. Thus, it will significantly contribute to the growth of the vegan cosmetics market during the study period.

Competitors in the Market
• Zuzu Luxe
• Ecco Bella
• Bare Blossom
• Emma Jean Cosmetics
• Modern Mineral Makeup
• Urban Decay
• Arbonne, Pacifica
• Nature's Gate
• Beauty Without Cruelty
• Billy Jealousy
• MuLondon Organic
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Vegan Cosmetics industry experienced notable growth in its workforce. Starting in January, employment within the Vegan Cosmetics sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Vegan Cosmetics output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector's production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Vegan Cosmetics output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Vegan Cosmetics market, remains both its largest producer and consumer. Remarkably, China's market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation's GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Vegan Cosmetics market.

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Market Segmentation
The global vegan cosmetics market segmentation focuses on Product, Distribution Channel, and Region.
By Product Type Outlook
• Skin Care
• Hair Care
• Color Cosmetics
• Others
By Distribution Channel Outlook
• Hypermarkets & Supermarkets
• Specialty Stores
• E-commerce
• Others
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Vegan Cosmetics Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Vegan Cosmetics Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Vegan Cosmetics Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Vegan Cosmetics Market Size (2023-2031)
Why is our study consequential?

Our study holds paramount importance for various reasons, a few of which include:

• Assisting businesses in gauging the viability of new or existing products or services.

• Facilitating business enterprises in the identification and cultivation of novel market segments.

• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.

• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.

• Analyzing market trends to aid businesses in devising adaptive strategies.

• Guiding businesses in the optimal placement of their products.

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