Vegan Cosmetics Market is Estimated to Grow at a CAGR of 6.1% within the forecast period of 2023-2030: Cognitive Market Research
– Vegan Cosmetics are made up of chemical compounds obtained from natural or synthetic sources that do not contain any components obtained from animals. Animal-derived ingredients include gelatin, lanolin, collagen, albumen, carmine, honey, beeswax, lanolin, collagen, and honey. Vegan cosmetics are used for personal care, skincare, and hair care and are used to cleanse or protect the body or hair. Vegan cosmetics are used to improve someone’s appearance by minimizing flaws, emphasizing natural features, bringing out the glow of the face, or altogether changing the appearance.
• Global Vegan Cosmetics market was valued at USD 14.98 Bn in 2023 and is expected to exhibit a CAGR of 6.1% during the forecast period 2023-2030.
• North America dominates the global vegan cosmetics market with the highest revenue share.
• The economic segment dominates the global market with a largest revenue share.
• Female segment dominates the global market.
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Global Vegan Cosmetics Market Dynamics:
– Growing environmental awareness, and increasing producers of vegan cosmetics products are the major factor that drives the demand for the global market. In addition, rising R&D investment for advanced products, and stringent regulatory regulations linked with animal testing fuel the demand for the target market. Furthermore, developments in the cosmetic industry and emerging new markets will provide opportunities for the target market. However, lack of awareness about the benefits of vegan cosmetics in developing countries will hamper global market growth.
Global Vegan Cosmetics Market Segmentation:
– Product Type
• Skin Product
• Hair Product
• Lip Product
• Eye Product
By Product Type the market is segmented into skin products, hair products, lip products, eye products, and other. Skin care segment accounted for the highest revenue share of the global market, due to increasing usage of skincare products by the global consumers to maintain proper skin condition.
By gender the market is segmented into kids, male, and female. Female segment dominates the global market. Growing usage of vegan cosmetic products by the global female population as cosmetics is a vital part of women.
– Price Point
The economic segment dominates the global market with a largest revenue share. This is attributed to increasing use of low vegan cosmetic products by customers worldwide due to the high availability of these items.
The personal segment accounted for the major revenue share in the global market. The global population utilizes an extensive amount of vegan cosmetics for personal use because consumers need cosmetics regularly.
– Distribution Channel
Offline segment dominates the vegan cosmetics market This is attributed to hypermarkets/supermarkets are the most common place that consumers prefer to buy cosmetics products than other channels.
Competitive Analysis for Vegan Cosmetics Market:
– Ecco Bella, Billy Jealousy, Modern Minerals Makeup, Urban Decay, Bare Blossom, Mulondon Organic.
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– North America dominated the vegan cosmetics market, due to the increasing percentage of the population which prefers to use vegan cosmetic products. Furthermore, Asia-Pacific is expected to drive the demand for the global market. Rising awareness regarding the exploitation of animals in countries such as India, Australia, and others boost the global vegan cosmetic market.
– August 2022,
Ashunta Sheriff Launched a Cruelty-Free, Vegan Beauty Line
Ashunta Sheriff introduced Ashunta Sheriff Beauty, a black-owned company with a conscience that offers a cruelty-free, vegan beauty line. The brand includes items like browzing brow gel freeze, unicorn multichrome glitter makeup palette. Further it consists of UV vegan liquid eyeliner, unicorn duochrome highlighter, and beauty water fix-it spray, among others.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Vegan Cosmetics Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Vegan Cosmetics Market Segmentation
1.5.1 Vegan Cosmetics Market Regional Fragmentation
1.5.1 Vegan Cosmetics Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Vegan Cosmetics Market
• 3.1 Global Vegan Cosmetics Market Size 2018 – 2030, (USD Million)
• 3.2 Global Vegan Cosmetics Market Statistics 2022: Snapshot
Chapter 4 Global Vegan Cosmetics Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Vegan Cosmetics Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Vegan Cosmetics Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Vegan Cosmetics Market Regional Analysis
Chapter 11 North America Vegan Cosmetics Market Outlook (2018 – 2030)
Chapter 12 Europe Vegan Cosmetics Market Outlook (2018 – 2030)
Chapter 13 Asia Pacific Vegan Cosmetics Market Outlook (2018 – 2030)
Chapter 14 Latin America Vegan Cosmetics Market Outlook (2018 – 2030)
Chapter 15 Middle East and Africa Vegan Cosmetics Market Outlook (2018 – 2030)
Chapter 16 Research Findings
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