Vegan Cosmetics Market is valued at US$ 14.5 Billion in 2021 and is anticipated to increase to US$ 21.5 Billion by 2027, with a growing CAGR of 5.8% in the next six years.
Vegan Cosmetics are manufactured in a factory that does not hurt animals, hence they do not include any animal-derived components. Plant-based extracts, components, and derivatives are used to create them. Vitamins, minerals, gelatin, antioxidants, collagen, honey, and a variety of other ingredients can be found in vegan Cosmetics. Vegan Cosmetics are incredibly popular and in high demand among vegans. Vegan Cosmetics, including as skin care, hair care, makeup, and color Cosmetics, are widely available on the market. Vegan Cosmetics come in a variety of kinds, variants, and other variations to meet the needs of vegan clients. Vegan Cosmetics with plant-based components are becoming more popular as a consequence of their numerous benefits to the skin, such as protecting it from hazardous chemicals and propelling their demand within the market. Veganism is a separate sector concept that is rapidly gaining traction in the Cosmetics industry. With an unusually large number of clients interested in real estate, Cosmetics companies are being forced to reconsider the components they use in their products.
Global Vegan Cosmetics Market Drivers:
The increase of vegan consumerism throughout the world, where people are opposed to animal cruelty and seek Cosmeticss that do not include any animal components, is one of the first drivers driving the market growth. As a result, there is a shift in the Vegan Cosmetics Market, mostly driven by ethically conscious clients who choose vegan products. Growing customer preference for vegan Cosmetics as a result of improving quality of environmental property beauty products, rising physical concern among people, and thus increased awareness of various types of cruelty-free beauty products are the factors driving the global Vegan Cosmetics Market to grow. The market is being refueled by an increase of producers that specialize in research and development. However, a lack of understanding of the beneficial characteristics of vegan beauty products may have a detrimental impact on market growth. Vegan Cosmetics are those that do not include any animal substances, such as beeswax or collagen and are used to beautify, maintain cleanliness, or dynamically enhance the appearance of clients. Its main categories include skincare, hair care, and color Cosmetics, among other things. Customers may easily obtain these items through a variety of distribution channels, including specialized stores, supermarkets, hypermarkets, e-commerce, and others.
Global Vegan Cosmetics Market Restraints:
Despite the growing popularity of vegan Cosmetics throughout the world, the proliferation of counterfeit goods is impeding the expansion of the vegan Cosmetics business. Furthermore, the widespread availability of counterfeit products in the Cosmetics industry makes it even more difficult for real vegan Cosmetics firms to compete in both local and foreign markets.
Global Vegan Cosmetics Market Segmentation:
Vegan Cosmetics Market, By Product
Based on Product, the Global Vegan Cosmetics Market is divided into skin care, Hair care, Makeup, and Others. The skin care segment is said to be the dominant one in the Global Vegan Cosmetics Market. As Skincare encompasses a variety of procedures that help to maintain the integrity of the skin, improve its appearance, and alleviate skin disorders.
Vegan Cosmetics Market, By Distribution Channel
Based on Distribution Channel, the Global Vegan Cosmetics Market is divided into E-commerce, Hypermarket/supermarkets, Departmental Stores, Specialty Stores, and others. Offline Retail Stores are said to be the dominant ones in the Global Vegan Cosmetics Market. An offline retailer is one that sells things in person at a physical location. Unlike internet merchants, they usually allow customers to try on items before purchasing them, and some even provide expert fitting services. Brands may acquire new consumers in the real world and then continue to connect with them online with an offline presence.
The Global Vegan Cosmetics Market Report includes the segmentation of Regions:
The Europe region holds the most immense amount of share in the global Vegan Cosmetics market. Germany, France, the United Kingdom, Italy, and Spain are major European markets for cruelty-free Cosmetics. Numerous research and development facilities devoted to the creation of Cosmetics and personal care products may be found in the European market.
Asia Pacific region holds a significant amount of share in the Global Vegan Cosmetics Market. the APAC region is predicted to see the most substantial rise. In the near future, emerging Asian markets are likely to attract new companies to enter. Furthermore, current industry changes point to significant commercial potential in Asian nations for both new and existing businesses.
Recent Developments:
16th November 2021: The product line-up of LG Household & Health Care's first-ever vegan make-up brand, Belif x VDL, has been finalized with the addition of seven new products to the current line-up. LG H&H (LG Household & Health Care) is a South Korean personal care corporation that owns a number of worldwide beauty brands, including History of Whoo.
15th November 2021: Clean Fresh Skincare, a 100 percent vegan and clean range of products that have been demonstrated to significantly enhance the look of skin quickly and over time is COVERGIRL's first-ever skincare collection. COVERGIRL has always been the go-to brand for everything from foundation to mascara to lipstick. With this wholly new skincare range, the business will go beyond color Cosmetics and into a new area.
8th January, 2021: Elf Cosmetics, a well-known vegan and cruelty-free Cosmetics brand, debuted its line in India in January. Nykaa, an online Cosmetics portal, will start selling the brand. The company offers a wide range of items, from skincare to Cosmetics. All of their goods, including their Cosmetics brushes, are vegan.
Global Vegan Cosmetics Market Key Players:
The key players in the Global Vegan Cosmetics Market are:
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Vegan Cosmetic Market , By Type
6.1.1 skin care
6.1.2 Hair care
6.1.3 Makeup
6.1.4 Others
6.1.5 Market Size Estimations & Forecasts (2022-2027)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Vegan Cosmetic Market , By Distribution Channel
6.2.1 E-commerce
6.2.2 Hypermarket/supermarket
6.2.3 Departmental Stores
6.2.4 Specialty Stores
6.2.5 Offline Retail Stores
6.2.6 others
6.2.7 Market Size Estimations & Forecasts (2022-2027)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Vegan Cosmetic Market , by Region
7.2 North America - Market Analysis (2022-2027)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Type
7.2.3 By Distribution Channel
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Type
7.3.3 By Distribution Channel
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Distribution Channel
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Type
7.5.3 By Distribution Channel
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Type
7.6.3 By Distribution Channel
8. Key Player Analysis
8.1 Urban Decay
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Ecco Bella
8.3 Zuzu Luxe
8.4 Bare Blossom
8.5 Billy Jealousy
8.6 Emma Jean Cosmetics
8.7 MuLondon Organic
8.8 Modern Minerals Makeup
8.9 Arbonne
8.10 Pacifica
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
FAQ's
The factors that are pushing the Global Vegan Cosmetics Market Growth are, the growing consumer preference towards vegan cosmetics due to the increasing popularity of environment-sustainable beauty products among consumers, and rising physical concern among individuals is resulting in the growth of the Global Vegan Cosmetic Market.
Europe holds the Most Immense amount of share in the Global Vegan Cosmetics Market.
The hindrances taking place in the Global Vegan Cosmetic Market are, the proliferation of counterfeit goods is impeding the expansion of the vegan cosmetics business.
The Global Vegan Cosmetic Market is valued at US$ 14.5 Billion in 2021 and is anticipated to increase at US$ 21.5 Billion by 2027, with a growing CAGR of 5.8% in the next six years.
The Global Vegan Cosmetic Market is valued at US$ 14.5 Billion in 2021 and is anticipated to increase at US$ 21.5 Billion by 2027, with a growing CAGR of 5.8% in the next six years.
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