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.
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
- Others (Lip Care, Nail Care, etc.)
2. By Sales Channel
- Offline Stores
3. By Packaging
- Pumps & Dispensers
- Compact Cases
- Pencils & Sticks
- Others (Blisters & Strip Packs, Aerosol Cans, etc.)
4. By End User
Global Vegan Cosmetics Market Geographically Analysis:
5. By Region
- North America
- South America
- Middle East & Africa
- Asia Pacific
Global Vegan Cosmetics Leading Companies:
- Beauty Without Cruelty
- Nature’s Gat
- Billy Gealousy
- L’Oréal Groupe
- Mo MI Beauty
- Emma Jean Cosmetic Inc.
- 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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