Global Vegan Cosmetics Market, By Product (Skin Care, Hair Care, Makeup, Others), Distribution Channel (E-Commerce, Hypermarket/Supermarket, Departmental Stores, Specialty Stores, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
The vegan cosmetics market is expected to be growing at a growth rate of 7.02% in the forecast period of 2022 to 2029 and is likely to reach the USD 27.02 billion by 2029.
Vegan cosmetics are those which are free of animal-derived ingredients, substance, or derivatives. Honey, keratin, beeswax and other natural ingredients are used in these vegan items.
The industry is predicted to develop in response to rising demand for safer and natural cosmetics. Rising R&D investment for advanced products, growing environmental awareness, increasing producers of vegan cosmetics products, and stringent regulatory regulations and norms linked with animal testing are likely to propel the vegan cosmetics market forward.
Moreover, developments in cosmetic industry and emerging new markets will create lucrative market growth opportunities.
However, the high manufacturing costs of vegan products and a lack of awareness about the benefits of vegan cosmetics in developing nations will hamper the growth rate of the market. Presence of other alternatives and growing intense competition among market players will further challenge the vegan cosmetics market.
This vegan cosmetics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vegan cosmetics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vegan Cosmetics Market Scope and Market Size
The vegan cosmetics market is segmented on the basis of product and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product, the vegan cosmetics market is segmented into skin care, hair care, makeup and others.
- Based on distribution channel, the vegan cosmetics market is divided into e-commerce, hypermarket/supermarket, departmental stores, specialty stores and others.
Vegan Cosmetics Market Country Level Analysis
The vegan cosmetics market is analysed and market size insights and trends are provided by country, product and distribution channel as referenced above.
The countries covered in the vegan cosmetics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region is predicted to keep a leading position among other regions worldwide, increasing at the fastest rate and accounting for the greatest proportion of the vegan cosmetics market. This is due to the rising demand for vegan products and growth in the popularity of vegan cosmetics among youth population.
The country section of the vegan cosmetics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Vegan Cosmetics Market Share Analysis
The vegan cosmetics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vegan cosmetics market.
Some of the major players operating in the vegan cosmetics market are GABRIELCOSMETICS, MO MI BEAUTY, Urban Decay, Pacifica Beauty, Beauty Without Cruelty, Unilever, Cover FX, LVMH, PHB Ethical Beauty Ltd, ColourPop Cosmetics, Gemdo Cosmetics, EcoTrail Personal Care, Nutriglow Cosmetics, Emami Limited, MOSSA Certified Skincare, Coty Inc., Debenhams, KOSÉ Corporation, Natura&Co, and Shiseido Company, Limited, among others.