Vegan Cosmetics Market - Rising Consumer Consciousness toward the Source of Origin of Cosmetic Products is Expected to Lead to Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 6.1% from 2022 to 2028

Vegan Cosmetics
  • Vegan Cosmetics Market

As stated in our extensive report, the Global Vegan Cosmetics Market accounted forUSD 15.1 Billionin 2021. Vegan Cosmetics refers to organic beauty products that primarily include plant-based extracts and environmental-friendly materials. These products are cruelty-free as they do not mix animal-based products or harmful chemicals. Vegan Cosmetics contain a rich amount of naturally extracted vitamins, minerals, antioxidants, and gelatine, to name a few. These beauty products have several benefits over chemical-based cosmetics that can solve problems of reducing skin acne, maintaining skin nourishment, and improving skin health. As a result, Vegan Cosmetic products are available in various forms, including facial beauty, eye cosmetics, nail make-up products, and hair styling.

There is an increase in the penetration of veganism trends and the rising consumer consciousness towards the source of origin of cosmetic products. This is a primary driving factor in the growth of the Vegan Cosmetics Market. In addition, the high prevalence of many skin problems coupled with the growing health concerns regarding the negative impact of petroleum-based cosmetic ingredients is also augmenting the growth of the Vegan Cosmetics Market. Furthermore, the implementation of strict regulations regarding the ban on animal-based mixtures has further catalyzed the demand for vegan-certified beauty cosmetics.

Furthermore, the increasing influence of beauty trends through social media platforms and the growing number of celebrity endorsements for promoting the use of Vegan Cosmetics is also boosting the product demand. Apart from the regular cosmetics available for women, several manufacturers are also introducing vegan men grooming products catering to their changing preferences and requirements in the Market. Additionally, the need fore-commerceplatforms has increased the product offerings accompanied by heavy discounts, doorstep delivery, and secured transaction gateways. These factors further contributed to the Vegan Cosmetics Market growth.

Europementioned the largest and the most lucrative growth of the Vegan Cosmetics Market, owing to the rising demand for natural & organic products. This rise, in addition to the advancements in the cosmetics industry, and the presence of key players in this region expected to boom the regional Vegan Cosmetics Market. In addition, more consumers are inclined towards veganism which is expected to further propel the demand for Vegan Cosmetics, especially in countries such as the U.K., France, and Germany. This is likely to bolster the positive impact on the Vegan Cosmetics industry. In 2020, around 82% of all vegan products introduced in the U.K. fall under the beauty category. According to The Vegan Society, in 2021, 97% of British shoppers were looking for more vegan-certified beauty products.

Some of the prominent players in the Global Vegan Cosmetics Market include- Zuzu Luxe, Ecco Bella, Bare Blossom, Emma Jean Cosmetics, Modern Mineral Makeup, Arbonne, Pacifica, Nature’s Gate, Beauty Without Cruelty, Billy Jealousy, MuLondon Organic and others.