Global Vegan Cosmetics Market to Grow at 5.4% During 2024-2032, Augmented by the Growing Adoption of Veganism

July 30, 2021 | Retail

According to the latest report by IMARC Group, titled “Vegan Cosmetics Market Report by Product Type (Skin Care, Hair Care, Makeup, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032,” the global vegan cosmetics market is expected to exhibit a CAGR of 5.4% during 2024-2032. 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.

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.

Market Summary:

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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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
Customization Scope	10% Free Customization
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Global Vegan Cosmetics Market to Grow at 5.4% During 2024-2032, Augmented by the Growing Adoption of Veganism

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