According to the latest report by IMARC Group, titled “Vegan Cosmetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global vegan cosmetics market is expected to exhibit a CAGR of 6.2% during 2022-2027. Vegan cosmetics are made from plant- and mineral-based ingredients like aloe vera, essential oils, seaweed, and chamomile. Asthey do not contain animal-based derivates and aid in reducing acne, improving skin health, and providing skin nourishment,vegan cosmetics are gaining traction across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Vegan Cosmetics Market Trends:
The increasing adoption of veganism represents one of the primary factors positively influencing the sales of vegan cosmetics around the world. Apart from this, there is a growing prevalence of skin-related disorders on account of several factors like environmental conditions. This, in confluence with the considerably rising awareness among individuals about cruelty-free beauty products, isstrengthening the market growth. Furthermore, leading cosmetics manufacturers are focusing on lowering dependence on petroleum-based products by manufacturing vegan product variants. Moreover, thesignificantly growing influence of social media and the rising number of celebrity endorsements for promoting the utilization of vegan cosmeticsare strengthening the market growth. Besides this, the market is also driven by increasing e-commerce platforms offering discounts, secured payment getaways, and doorstep delivery worldwide.
- Based on the product type, the market has been segregated into skin care, hair care, makeup, and others.
- On the basis of the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (South Korea, China, Japan, India, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being 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. and Shiseido Company Limited.
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