Press Release

Escalating Concerns over Animal Cruelty Worldwide to Boost the Vegan Cosmetics Market

The Global Vegan Cosmetics Market size was valued at USD48 Billion in 2022 and is set to record around 7% CAGR during 2024-30, cites MarkNtel Advisors in their recent research report. The increasing health awareness regarding the negative health impact of chemical cosmetics and the government support for using natural ingredients in cosmetic products & curbing the use of animal-derived ingredients are driving the Global Vegan Cosmetics Market. Numerous countries in regions, including North America, Europe, & Asia-Pacific, have prohibited cosmetic products with animal-derived ingredients, like hair, fur, fat, etc., which has surged the demand for plant-based sustainable cosmetic products globally.

The demand for vegan cosmetics across North America, Europe, & Asia-Pacific has grown considerably with the increasing popularity of natural ingredients & their health benefits. Additionally, the high prevalence of several skin-related disorders like skin rashes, cancer, etc., coupled with mounting concerns over the negative impact of petroleum-based cosmetic ingredients, are also augmenting the market growth for vegan cosmetics, further states the research report “Global Vegan Cosmetics Market Analysis, 2024.”

Market Segmentation

• By Sales Channel (E-Commerce, Offline Stores (Hypermarket/Supermarket, Departmental Stores, Specialty Stores))
• By Product (Skin Care, Hair Care, Makeup, Others (Lip Care, Nail Care, etc.))
• By Packaging (Pumps & Dispensers, Compact Cases, Jars, Pencils & Sticks, Tubers, Others (Blisters & Strip Packs, Aerosol Cans, etc.))
• By End User (Women, Men, Kids)
• By Region (North America, South America, Europe, Middle East & Africa, Asia Pacific)
• By Country (The US, Canada, Mexico, Brazil, Argentina, Germany, The UK, France, Italy, Spain, Saudi Arabia, The UAE, Israel, Egypt, Turkey, South Africa, China, Japan, India, South Korea, Australia)

Increasing Number of E-Commerce Platforms Worldwide to Contribute Significantly to the Market Growth

With the growing number of internet users and the rapidly expanding e-commerce sector globally, vegan cosmetic products are experiencing burgeoning sales through online platforms, which, in turn, is fueling the growth of the vegan cosmetics industry. As environmentally-conscious consumers continue to prioritize sustainability & ethical choices, the demand for vegan cosmetic products is expected to soar even higher. Moreover, the ease of accessibility & convenience offered by e-commerce platforms is also attracting a broader consumer base, transcending geographical barriers and allowing vegan cosmetic companies to expand their market reach to a global scale.

• According to United Nations Conference on Trade and Development (UNCTAD), “the E-commerce industry saw a dramatic rise in sales of online retail share from 16% in 2019 to 19% in 2020.”

Nevertheless, the convenience of product selection, extensive availability of numerous brands, and intriguing promotional offers provided by e-commerce platforms are other crucial aspects that would drive the vegan cosmetics market during 2024-28.

Growing Demand for Chemical-Free Cosmetics drives the North America Vegan Cosmetics Market

During 2024-28, North America is set to witness a significant surge in demand for vegan cosmetic products, driven by the growing consumer awareness regarding the harmful effects of compounds like paraben & aluminum in conventional beauty products like hand creams & hair care items. As a result, more & more consumers are increasingly switching to natural cosmetics. The constant use of chemical-based beauty products has contributed to a rise in skin diseases among the regional population, thereby creating a prominent demand for plant-based alternatives and, in turn, fueling the vegan cosmetics market in North America.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including MuLondon, Beauty Without Cruelty, Nature’s Gat, Billy Gealousy, L’Oréal Groupe, Mo MI Beauty, Emma Jean Cosmetic Inc., Inika, Gabriel Cosmetic Inc., Groupe Rocher, Pacifica Beauty, E.l.f. Cosmetic Inc., Coty Inc., Kose Corp., Natura International Inc., MAV Beatury Brands Inc., The Estee Lauder Co. Inc., Lush Retail Ltd., Debenhams Plc., & Charlotte Tilbury Beauty Ltd. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How have the buying behavior, customer in- inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?