How Has the Vegan Cosmetics Market Size Evolved in Recent Years?
The vegan cosmetics market has seen considerable growth due to a variety of factors.
• The market for vegan cosmetics has seen a robust expansion in the last few years, and it is set to rise from $18.25 billion in 2024 to $19.59 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.3%.
The historic growth can be credited to factors such as heightened awareness of animal cruelty in the cosmetics industry, augmented demand for organic and natural beauty products, a surge in health and environmental worries, the role of celebrities through endorsements and influence, as well as the spreading of veganism as a lifestyle preference.
What are the Market Size and Expected Growth Rates for the Vegan Cosmetics Market?
The vegan cosmetics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness robust growth in the coming years, the vegan cosmetics market size is projected to surge to $27.77 billion by 2029, with a compound annual growth rate (CAGR) of 9.1%.
This growth during the forecasted period is primarily driven by increasing consumer inclination towards eco-friendly and ethical products, enhanced governmental backing for cruelty-free and vegan beauty, greater attention to transparency in product labeling, enlargement of the vegan demographic for a wider consumer base, and a rising demand for plant-based ingredients. Emerging trends during the forecasting period include progress in vegan cosmetic formulations and technology, the appearance of vegan and cruelty-free certifications, innovative packaging with a focus on sustainable materials, application of technology for personalized vegan beauty solutions, and partnerships between beauty brands and influencers.
What Are The Essential Drivers Behind The Growth Of The Vegan Cosmetics Market?
The anticipated increase in popularity of vegan habits is projected to fuel the expansion of the vegan cosmetics sector. The term veganism represents the rejection of goods manufactured from animals. High instances of animal mistreatment and cruelty are connected with cosmetic production, which is why numerous individuals are turning to veganism, favoring plant-derived items to steer clear of contributing to these acts of cruelty towards animals. As reported by Veganuary, a non-profit organization based in the UK, in April 2023, there was an increase in the number of worldwide Veganuary sign-ups, which rose to 706,965 in 2023, up from 629,000 in 2022. Hence, the rising trend of veganism is propelling the growth of the vegan cosmetics market.
How Is The Global Vegan Cosmetics Market Divided Into Key Segments?
The vegan cosmetics market covered in this report is segmented –
1) By Product: Skin Care, Hair Care, Color Cosmetics, Other Products
2) By Nature: Organic, Conventional
3) By Customer Orientation: Women, Men, Unisex, Kids
4) By Distribution Channel: Hyper markets and Super markets, Specialty Stores, E-commerce, Other Distribution Channels
Subsegments:
1) By Skin Care: Moisturizers, Cleansers, Serums, Sunscreens, Face Masks
2) By Hair Care: Shampoos, Conditioners, Hair Treatments, Styling Products
3) By Color Cosmetics: Foundations, Lipsticks And Lip Care, Eye Makeup, Blush And Bronzer
4) By Other Products: Body Care Products, Nail Care Products, Fragrances
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What Trends Are Reshaping The Future Of The Growth Analysis Market?
Product innovation is emerging as a crucial trend in the vegan cosmetics market. Leading firms in the vegan cosmetic industry are actively striving to create new and cutting-edge vegan products to solidify their market standing. Case in point, LG Household & Health Care, a consumer goods corporation based in South Korea, unveiled Freshian, a certified vegan color cosmetic brand, in June 2022 with the intent of capturing the attention of millennial and Generation Z beauty consumers. This brand offers two distinct types of cushion compacts, an assortment of lip balms, and a sunscreen. Ingredients for the products, such as five unique varieties of hyaluronic acid and madecassoside, were selected for their skin-soothing properties. Corn starch is used in the cushion puffs, while materials derived from sugarcane contribute to greener packaging, thus minimizing the brand's environmental impact.
Who Are the Key Players in the Vegan Cosmetics Market?
Major companies operating in the vegan cosmetics market include:
• MuLondon Organic Skincare.
• Loreal SA
• Beauty Without Cruelty
• Nature's Gate
• MO MI BEAUTY
• e. l. f. Cosmetics Inc.
• COTY Company
• Gabriel Cosmetics Inc.
• Groupe Rocher
• Pacific Beauty
• Billy Jealousy LLC
• Zuzu Luxe by Gabriel Cosmetics
• Emma Jean Cosmetics
• Modern Mineral Makeup
• Arbonne International LLC
• Estee Lauder Companies Inc.
• Unilever plc
• Cottage Holdco B. V.
• E. L. F. Cosmetics Company
• Korres S. A. Natural Products
• Beiersdorf AG
• Aubrey Organics Inc.
• Dr. Bronner's Magic Soaps.
• Desert Essence
• Avalon Organics
• California Baby LLC
• Earth Mama Organics LLC
• EO Products Inc.
• Nourish Organic Inc.
• Tata Harper Skincare.
• Alba Botanica
• Andalou Naturals
• Badger Balm
• John Masters Organics
• Acure Organics
• Shea Terra Organics LLC
What are the Regional Insights into the Vegan Cosmetics Market?
Europe was the largest region in the vegan cosmetics market in 2024.The regions covered in the vegan cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
