BANGALORE, India, April 20, 2022 /PRNewswire/ — Vegan Cosmetics market is segment by Type – Makeup, Skin Care, Hair Care, Others, by Application, E-Commerce, Hypermarket/Supermarket, Specialty Stores, Departmental Stores, Others. Global Opportunity Analysis and Industry Forecast, 2022 – 2028. It is published in Valuates Reports under the Make-Up & Cosmetics Category.
The global Vegan Cosmetics market size is projected to reach USD 21780 million by 2028, from USD 15960 million in 2021, at a CAGR of 4.5% during 2022-2028.
Major Factors Driving The Growth Of The Vegan Cosmetics Market Are:
Growing demand for personal care products, as well as increased awareness of vegan and cruelty-free products, are driving the vegan cosmetics market.
The rising health concerns about the negative effects of petroleum-based cosmetic ingredients, as well as the high prevalence of several skin-related disorders, are fueling the vegan cosmetics market growth.
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TRENDS INFLUENCING THE GROWTH OF VEGAN COSMETICS MARKET
Growing Consumer Demand for Cruelty-free products is expected to drive the growth of the vegan cosmetics market. Consumers today are concerned not only with finding the right shade of lipstick for them but also with how that lipstick is made. Animal testing is being phased out of the global cosmetics industry. Several countries have already passed laws prohibiting the sale and manufacture of cosmetics that have been tested on animals. Consumer demand is driving a shift away from using animals in the development of new products.
Growing demand for personal care products is expected to drive the vegan cosmetics market. Vegan cosmetics are high in naturally extracted vitamins, minerals, antioxidants, gelatin, collagen, and other ingredients. With toxin-free ingredients, these beauty products offer several advantages over chemical-based cosmetics in terms of reducing skin acne, maintaining skin nourishment, and improving skin health. As a result, vegan cosmetics, such as facial beauty products, eye cosmetics, nail make-up, hair styling, and coloring products, are widely available.
E-commerce emergence is expected to further propel the vegan cosmetics market growth. With the rise of e-commerce platforms, product offerings have increased, along with attractive discounts, doorstep delivery, and secure payment gateways. Moreover, in order to broaden their customer base, several luxury clothing and accessory brands are including vegan cosmetics in their product portfolios.
Furthermore, the growing influence of social media beauty trends, as well as the growing number of celebrity endorsements for promoting the use of vegan cosmetics, are driving up demand for the product. Aside from the traditional cosmetics for women, several manufacturers are now offering vegan men’s grooming products to meet their changing preferences and needs.
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VEGAN COSMETICS MARKET SHARE ANALYSIS
Based on type, Skincare products are expected to be the most lucrative segment.
Based on application, E-commerce is expected to be the most lucrative segment due to the ease with which you can choose a product and the availability of a wide range of products and promotional offers
Based on region, Europe is expected to be the most lucrative due to rising demand for natural and organic products, advancements in the cosmetics industry, and the presence of key players in this region, Europe is expected to capture the largest share of the global vegan cosmetics market.
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Market By Region
- North America
- Latin America
- Middle East & Africa
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Market By Company
- Ecco Bella
- Billy Jealousy
- Modern Minerals Makeup
- Urban Decay
- Bare Blossom
- Mulondon Organic
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– The global Cruelty-Free Cosmetics market size is estimated to be worth USD 6479.2 million in 2022 and is forecast to a readjusted size of USD 7919.4 million by 2028 with a CAGR of 3.4% during the review period.
– The global Feminine Hygiene Products market size is projected to reach USD 41860 million by 2027, from USD 31960 million in 2020, at a CAGR of 4.6% during 2021-2027.
– The global plant extract market is estimated to be worth USD 17790 million in 2022 and is projected to reach USD 31170 million by 2028 with a CAGR of 9.8% during the forecast period.
– The global Consumer Skin Care Devices market size is estimated to be worth USD 51380 million in 2022 and is forecast to be a readjusted size of USD 149630 million by 2028 with a CAGR of 19.5% during the review period.
– The global Perfume market size is estimated to be worth USD 43420 million in 2022 and is forecast to be a readjusted size of USD 70830 million by 2028 with a CAGR of 8.5% during the review period.
– The global Glycerine market size is estimated to be worth USD 2552 million in 2022 and is forecast to be a readjusted size of USD 3518.8 million by 2028 with a CAGR of 5.5% during the review period.
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