Vegan Cosmetics Market Size, Share, Growth and Trends, Report 2024-2031

Global Vegan Cosmetics Market reached USD 11.7 billion in 2023 and is expected to reach USD 18.9 billion by 2031, growing with a CAGR of 6.2% during the forecast period 2024-2031.

The vegan cosmetics market focuses on beauty and personal care products made without any animal-derived ingredients or by-products. As consumer awareness around ethical and sustainable practices grows, vegan cosmetics have gained popularity due to their cruelty-free and plant-based formulations. These products typically avoid ingredients like beeswax, lanolin, and collagen, opting for plant-based alternatives like aloe vera, shea butter, and essential oils.

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Key Developments:

• In February 2023, celebrity co-founders Daniella Monet and Evanna Lynch launched Kinder Beauty, introducing their first vegan skincare collection, which includes three facial serums: Hello Sunshine (Vitamin C), Rewind Kindness (Bakuchiol), and Dew-Gooder (Hyaluronic acid).

• In September 2022, Stella McCartney unveiled a new vegan and cruelty-free skincare collection, offering natural cosmetics with a fashionable edge. The STELLA brand promotes a simple, eco-friendly approach to high-quality skincare that is free from toxins.

• In August 2022, OrgaGlo entered the personal care and cosmetics market in India, offering vegan skincare and hair care products made from premium natural ingredients.

Market Dynamics:

Rising Trend for Green Cosmetics

In recent years, the market for cruelty-free, vegetarian, and vegan beauty products has seen significant growth. Consumers are increasingly drawn to vegan cosmetics due to their ethical stance, as these products avoid animal testing and the use of animal-derived ingredients.

For example, in November 2022, NYX Professional Makeup launched a vegan makeup line inspired by "Avatar: The Way of Water" from 20th Century Studios. The company highlighted its commitment not only to providing vegan and animal-free products but also to minimizing its environmental impact. The product line features recyclable materials for packaging, including paint, face spray, lipstick, and palettes. Moreover, consumers are showing a growing interest in understanding the science and ingredients behind their cosmetics, reflecting a broader trend towards transparency and sustainability in the beauty industry.

Segment Covered in Vegan Cosmetics Market:

By Type: Skin Care, Hair Care, Make Up, Others.

By Distribution Channel: E-Commerce, Hypermarkets/Supermarkets, Departmental Stores, Specialty Stores, Others.

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Key players involved in Vegan Cosmetics Market:

• GABRIEL COSMETICS
• PHB Ethical Beauty Ltd.
• Natur'Alley Ltd
• GoNature Sp. z.o.o
• Seraphine Botanicals
• Nutriglow Cosmetics
• Plum
• Disguise Cosmetics
• COTY Inc.
• G&M Cosmetics

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Vegan Cosmetics Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Vegan Cosmetics Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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