Vegan Cosmetics Market Progress Forecast 2025

Posted by Mrudula Anil Karmarkar on March 31st, 2022

The global vegan cosmetics market size is projected to reach USD 20.8 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. Spiraling demand for vegan cosmetics among millennials is one of the primary growth stimulants of the market.

The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

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https://www.grandviewresearch.com/industry-analysis/vegan-cosmetics-market/request/rs1

E-commerce retail spaces have gained tremendous momentum over the last few years owing to ease of product selection and easy order placing and delivery. With the advent of products in 2011, China recorded more than 65.0% hit in online vegan cosmetics sales, owing to a shift in consumer shopping experience from hypermarkets and specialty stores to E-commerce platforms.

Further key findings from the report suggest:

• Choices in cosmetics available to vegan have rapidly expanded in the past few years with new brands launching and existing brands choosing to launch new ranges of vegan products or even go completely vegan
• Skincare products dominated the market in terms of revenue, with a share of over 36.0% in 2017, owing to consumer preferences across diverse regions
• E-commerce is estimated to register a CAGR of 7.4% over the forecast period owing to ease of product selection and availability of a wide range of products and promotional offers
• The U.S. vegan cosmetics market is expected to exceed USD 3.16 billion by 2025, owing to the presence of various manufacturers and suppliers of vegan cosmetics
• The market for vegan cosmetics is highly competitive due to the presence of a number of international companies with diverse product portfolios
• Some of the key companies present in the market are Zuzu Luxe, Ecco Bella, Bare Blossom, Emma Jean Cosmetics, Modern Mineral Makeup, Urban Decay, Arbonne, Pacifica, Nature’s Gate, Beauty Without Cruelty, Billy Jealousy, and MuLondon Organic       

Grand View Research has segmented the global vegan cosmetics market on the basis of product, sales channel.

Vegan Cosmetics Product Outlook (Revenue, USD Million, 2014 - 2025)

• Skin Care
• Hair Care
• Makeup
• Others