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Vegan Cosmetics Market Sees Surge In Product Innovations Industry Trends Gaining Momentum in the Global Vegan Cosmetics Market
Vegan Cosmetics Market
Vegan Cosmetics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the vegan cosmetics market size has seen substantial growth. It is predicted to expand from $18.25 billion in 2024 to reach $19.5 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The historic growth in the market is due to factors such as increasing awareness about animal cruelty in cosmetic production, growing demand for natural and organic beauty products, rising health and environmental concerns, the influence of celebrity endorsements, and the widespread adoption of veganism as a lifestyle choice.
Vegan Cosmetics Market Size Forecast: What's the Projected Valuation by 2029?
In the upcoming years, the vegan cosmetics market is poised to experience robust expansion, with forecasts predicting a size of $27.54 billion in 2029 and a compound annual growth rate (CAGR) of 9.0%. The predicted growth can be linked to an increase in consumer inclination towards sustainable and ethical products, a bolstering regulatory support for vegan and cruelty-free cosmetics, greater emphasis on transparency in product labeling, and a widening vegan demographic comprising a more extensive consumer base. There is also a rising demand for plant-based ingredients. The forecast period also anticipates significant trends such as advances in vegan cosmetic formulations and technology, the rise of vegan and cruelty-free certifications, innovative and eco-friendly packaging, tech integration for personalized vegan beauty solutions, and partnerships between beauty brands and influencers.
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What Are the Drivers Transforming the Vegan Cosmetics Market?
The rise in veganism is projected to propel the expansion of the vegan cosmetics market. Veganism is the practice of rejecting products derived from animals. The cosmetics industry is often associated with significant animal abuse and cruelty. Consequently, there's been a shift towards veganism with more people opting for plant-based products to not contribute to such injustices. For instance, Veganuary, a UK non-profit entity, reported that global registrations for Veganuary escalated to 706,965 in April 2023, up from 629,000 in 2022. Therefore, veganism's growing appeal is fueling the vegan cosmetics market.
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What Long-Term Trends Will Define the Future of the Vegan Cosmetics Market?
The dominant trend emerging in the vegan cosmetics market is product innovation. Leading firms in this industry are concentrating their efforts on the creation of unique vegan products to solidify their market stance. For example, LG Household & Health Care, a consumer goods company based in South Korea, unveiled Freshian, a vegan-certified color cosmetic brand, in June 2022, targeting millennial and Generation Z beauty enthusiasts. The brand features two distinct types of cushion compacts, a range of lip balms, and a sunscreen. The selected ingredients for these products, such as five different types of hyaluronic acid and madecassoside, aim to soothe the skin. The brand also employed corn starch in the cushion puffs, and the packaging uses materials derived from sugarcane, both initiatives to minimize the brand's environmental footprint.
Which Segments in the Vegan Cosmetics Market Offer the Most Profit Potential?
The vegan cosmeticsmarket 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 Channels
Subsegments:
1) By Skin Care: Moisturizers, Cleansers, Serums, Sunscreens, Face Masks
2) By Hair Care: Shampoos, Conditioners, Hair Treatments, Styling Products
3) By Color Cosmetics: Foundations, Lipsticks And Lip Care, Eye Makeup, Blush And Bronzer
4) By Other Products: Body Care Products, Nail Care Products, Fragrances
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Which Firms Dominate the Vegan Cosmetics Market by Market Share and Revenue in 2025?
Major companies operating in the vegan cosmetics market include 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
Which Regions Offer the Highest Growth Potential in the Vegan Cosmetics Market?
Europe was the largest region in the vegan cosmetics market in 2024.The regions covered in the vegan cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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