Vegan Cosmetics Market Expanding at a CAGR of 7.0% during 2024-2030

Posted by Akio Komatsu on October 1st, 2024

According to MarkNtel Advisors study 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., 2024-30.

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Key Findings of the Study: Vegan Cosmetics market

Global Vegan Cosmetics Market Driver:

Increasing Government Initiatives for Promoting Chemical-Free Cosmetics: The regulatory frameworks for the cosmetics industry have been put in place owing to the rising cruelty towards animals, mounting concerns over skin allergies, and the possibility that some chemical contents within their products could cause long-term health risks. Governments across North America, Europe, & Asia-Pacific have introduced various policies to stop the use of animal-derived ingredients during the production of cosmetics & personal care products. For instance:

• In June 2021, the Ministry of the United States Senate introduced a bill to modernize safety standards for personal care products, focusing on using natural ingredients in them.

Similarly, many other countries like India, Israel, Brazil, Taiwan, Turkey, South Korea, China, etc., have imposed bans on animal testing for cosmetics. Such initiatives, supported by cosmetic giants like Unilever, L'Oréal, LUSH, Avon, etc., are projected to propel the demand for vegan cosmetics in the respective regions and, in turn, drive the global market in the coming years.

For more detailed information about the Vegan Cosmetics market report, click here – https://www.marknteladvisors.com/research-library/vegan-cosmetics-market-analysis.html

Scope of the Report and Vegan Cosmetics Market Segmentation:

By Product

• Skin Care
• Hair Care
• Makeup
• Others (Lip Care, Nail Care, etc.)

By Sales Channel

• E-Commerce
• Offline Stores
• Hypermarket/Supermarket
• Departmental Stores
• Specialty Stores
• Others (convenience Stores, Discount Stores, etc.)

Here, E-commerce is expected to attain a sizeable revenue share in the Vegan Cosmetics Market during 2024-30.

By Packaging

• Pumps & Dispensers
• Compact Cases
• Jars
• Pencils & Sticks
• Tubers
• Others (Blisters & Strip Packs, Aerosol Cans, etc.)

By End User

• Women
• Men
• Kids

Vegan Cosmetics Market Competitive Landscape

• MuLondon
• Beauty Without Cruelty
• Nature’s Gat
• Billy Gealousy
• L’Oréal Groupe
• Mo MI Beauty
• Emma Jean Cosmetic Inc.
• Inika
• 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.

Vegan Cosmetics Market Development:

• In April 2024, L’Oréal announced that it had signed an agreement with Natura &Co to acquire A?sop, the Australian luxury beauty brand.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

Of all regions globally, North America is expected to witness a significant rise in demand for Vegan Cosmetic Products during 2024-30. 

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