Global Vegan Cosmetics Market Insights:
The Global Vegan Cosmetics Market size was valued at USD 17 Billion in 2022 and is projected to grow at a CAGR of around 7.0% during the forecast period, i.e., 2023-28. The market dynamics have been predominantly influenced by the shifting consumer preferences toward natural & clean-label products owing to the negative impact of animal-derived products on health, environment, & animal welfare, coupled with the increasing Green House Gas (GHG) emissions.
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Global Vegan Cosmetics Market Definition:
Vegan cosmetics are products that do not contain any animal-derived ingredients or by-products, are cruelty-free, and are made from plant-based sources. They may contain various beneficial compounds like vitamins and antioxidants, but their vegan status is not determined by the presence of these elements.
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Global Vegan Cosmetics Market Possible Restraint:
Lack of Enough Awareness about Vegan Cosmetic Products: The overall prevalence of cosmetic products is increasing among both males & females. However, the associated awareness regarding the beneficial properties of vegan beauty products is not present widely. Additionally, significant health risks caused by using chemical cosmetics, especially in developing & underdeveloped countries of Asia-Pacific, Middle East & Africa, & Latin America, might hinder the market growth across these regions. Besides, the lower availability & higher costs of these cosmetic products are also considerable growth challenges for the global vegan cosmetics market during 2023-28.
Global Vegan Cosmetics Market Segmentation:
1. By Product
- Skin Care
- Hair Care
- Makeup
- Others (Lip Care, Nail Care, etc.)
2. By Sales Channel
- E-Commerce
- Offline Stores
3. By Packaging
- Pumps & Dispensers
- Compact Cases
- Jars
- Pencils & Sticks
- Tubers
- Others (Blisters & Strip Packs, Aerosol Cans, etc.)
4. By End User
- Women
- Men
- Kids
Global Vegan Cosmetics Market Geographically Analysis:
5. By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Global Vegan Cosmetics Leading Companies:
- MuLondon
- Beauty Without Cruelty
- Nature’s Gat
- Billy Gealousy
- L’Oréal Groupe
- Mo MI Beauty
- Emma Jean Cosmetic Inc.
- Inika
- Gabriel Cosmetic Inc.
- Groupe Rocher
- Pacifica Beauty
- l.f. Cosmetic Inc.
- Coty Inc.
- Kose Corp.
- Natura Interantional Inc.
- MAV Beatury Brands Inc.
- The Estee Lauder Co. Inc.
- Lush Retail Ltd.
- Debenhams Plc.
- Charlotte Tilbury Beauty Ltd.
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