Vegan Cosmetics Market Overview: 2024-2030

Base Year: 2023

Historical Years: 2019-22

Forecast Years: 2024-30

The 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. 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. The rising animal abuse in the cosmetics manufacturing & fashion industries, etc., has accelerated the species extinction rates, with grave impacts on the ecosystem.  

Markntel Advisor’s Vegan Cosmetics Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Vegan Cosmetics Market drivers, barriers, Vegan Cosmetics Market Trends, and Key Players in Vegan Cosmetics Market.

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Vegan Cosmetics Market Dynamics: 2024-2030

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.

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Vegan Cosmetics Market (2024-30): Segmentation Outlook

The market report has segmented the market into the following categories:

·       By Product

o   Skin Care

o   Hair Care

o   Makeup

o   Others (Lip Care, Nail Care, etc.)

·       By Sales Channel

o   E-Commerce

o   Offline Stores

§  Hypermarket/Supermarket

§  Departmental Stores

§  Specialty Stores

§  Others (convenience Stores, Discount Stores, etc.)

·       By Packaging

o   Pumps & Dispensers

o   Compact Cases

o   Jars

o   Pencils & Sticks

o   Tubers

o   Others (Blisters & Strip Packs, Aerosol Cans, etc.)

·       By End User

o   Women

o   Men

o   Kids

·       By Region

o   North America

o   South America

o   Europe

o   Middle East & Africa

o   Asia Pacific

Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

Top Companies Operating in the Vegan Cosmetics Market:

• 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
• E.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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