The global vegan cosmetics market is expected to exhibit a growth rate (CAGR) of 6% during 2023-2028
Vegan cosmetics refer to the organic beauty products that precisely include plant-based extracts and environmental-friendly derivatives. These products are considered to be cruelty-free as they do not involve any animal-based byproducts or harmful chemical testing on animals. Vegan cosmetics contain a rich amount of naturally-extracted vitamins, minerals, antioxidants, gelatin, collagen, etc. These beauty products offer several benefits over chemical-based cosmetics in reducing skin acne, maintaining skin nourishment, and improving skin health with toxin-free ingredients. As a result, vegan cosmetics are widely available in the form of facial beauty products, eye cosmetics, nail make-up products, hair styling and coloring products.
The increasing penetration of veganism trends along with the rising consumer consciousness towards the source of origin of cosmetic products is primarily driving the demand for vegan cosmetics. Additionally, the high prevalence of several skin-related disorders coupled with the growing health concerns towards the negative impact of petroleum-based cosmetic ingredients is also augmenting the market growth. Besides this, the introduction of several awareness programs by various organizations for reducing the unethical activities and cruelty against animals during the manufacturing of beauty products is also propelling the market growth. In line with this, the implementation of stringent regulations regarding the ban on animal-based derivatives has further catalyzed the demand for vegan-certified beauty products. Furthermore, the increasing influence of social media beauty trends along with the growing number of celebrity endorsements for promoting the use of vegan cosmetics is also augmenting the product demand. Apart from the regular cosmetics that are available for women, several manufacturers are also introducing vegan men grooming products catering to their changing preferences and requirements. Additionally, the emergence of e-commerce platforms has increased the product offerings accompanied with lucrative discounts, doorstep delivery, and secured payment gateways. Moreover, several luxury clothing and accessory brands are also introducing vegan cosmetic range in their product portfolios to expand their consumer base.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vegan cosmetics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
- Skin Care
- Hair Care
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also 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.
|Base Year of the Analysis
||Product Type, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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Key Questions Answered in This Report:
- How has the global vegan cosmetics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global vegan cosmetics market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global vegan cosmetics market and who are the key players?
- What is the degree of competition in the industry?