Global Vegan Cosmetics

Global Vegan Cosmetics Market Research Report: Forecast (2022-27)

By Sales Channel (E-Commerce, Offline Stores (Hypermarket/Supermarket, Departmental Stores, Specialty Stores, Others)), By Product (Skin Care, Hair Care, Makeup, Others (Lip Care, Nail Care, etc.)), B Read more

  • FMCG
  • Feb 2022
  • 254
  • CG33026

Market Definition

Vegan Cosmetics are products derived from natural or plant-based ingredients, chemicals & substances like almond milk, soy milk, seaweed, coconut, etc.; contain vitamins, antioxidants, etc., and are beneficial for human use. The growing consumer awareness regarding the use of animal-derived ingredients in cosmetics, owing to increasing health problems, such as cancer, skin diseases, etc., and customer realization of various benefits associated with plant-based ingredients in cosmetics has contributed to a demand upsurge for vegan-certified cosmetic products globally. Companies like L’Oréal, Pacifica, Elf Cosmetics Inc., etc., are strategizing brand acquisitions in sophisticated markets worldwide to enhance their customer base. Moreover, cosmetic manufacturers are involved in various R&D activities for technological advancements & innovations in their product offerings.

Market Insights

The Global Vegan Cosmetics Market is projected to grow at a CAGR of around 6.25% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the rapidly surging demand for vegan cosmetic products worldwide due to the changing consumer preferences & attitudes towards consumption of animal-based products owing to their negative impact on health, environment, & animal welfare, coupled with the increasing Green House Gas (GHG) emissions. Increasing animal abuse in the cosmetics manufacturing & fashion industries, etc., has accelerated the rate of species extinction, with grave impacts on the ecosystem. 

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR(2022-27) 6.25%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain, and Others
Asia-Pacific: China, India, Japan, South Korea, Australia and Others
South America: Brazil, and Others
Middle East & Africa: GCC countries, South Africa and Others
Key Companies Profiled 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 Interantional Inc., MAV Beatury Brands Inc., The Estee Lauder Co. Inc., Lush Retail Ltd., Debenhams Plc., Charlotte Tilbury Beauty Ltd
Unit Denominations USD Million/Billion

 

 

  • According to the World Animal Protection, during 2014-19, Canada imported around 1.8 million wild animals from 76 countries for manufacturing traditional medicine, luxury fashion products, etc., or their use as exotic pets.
  • Additionally, the People for the Ethical Treatment of Animals (PETA) has reported the use of more than 100 million animals each year, including rats, frogs, dogs, monkeys, fish, & birds in US laboratories for biology lessons, medical training, cosmetics manufacturing, experimentation, and cosmetics testing.

Countries across several regions like North America, Europe, & Asia-Pacific are increasingly adopting various strategies to ban cosmetic products that involve animal abuse and are actively collaborating with cosmetic brands to launch vegan products for a sustainable future. For instance:

  • In April 2019, the House of Representatives in Columbia unanimously approved bill 120/2-019 to ban all animal testing for cosmetic products & animal-based ingredients used in manufacturing & imported cosmetics.
  • Later, in May 2021, the National Medical Products Administration (NMPA) of China implemented & finalized the list of prohibited animal-based Ingredients for sale within Chinese territory.

With these restrictions on sales & marketing of animal-based ingredients, cosmetic products made using animal ingredients would be replaced with natural ingredient-based products, which would lead to a potential increase in the demand for vegan Cosmetics in the future.

Furthermore, manufacturers of vegan cosmetics earlier using animal testing on products have started shifting towards cruelty-free cosmetics to reap growth opportunities among the increasing number of environmentally-aware consumers. Moreover, significant initiatives by governments across regions like Asia-Pacific, Europe, & North America for encouraging the use of vegan cosmetic products are also expected to drive the global market during 2022-27.

Key Trends in the Global Vegan Cosmetics Market

The vegan cosmetic brands & customers globally are now inclined towards customizing their products due to a substantial increase in the demand for cosmetics based on different skin types & complexity. Companies like Unilever, LOTUS, etc., are pacing toward developing personalized or customized vegan cosmetic products by integrating AI-powered platforms to analyze skin & hair selfies taken by customers and offer them relevant product recommendations. For instance:

  • In March 2018, CoverGirl, an American vegan cosmetics brand, launched an AI-based customization app, Custom Blend, which analyzes customer skin color, intensity, & undertone to mix & match unique foundation shades.
  • Later, in March 2021, Unilever partnered with Onegevity to help evolve its array of skin-care products & treatments. It combines AI models with a multi-omic database to produce improved therapeutic products & compounds.

Impact of Covid-19 on the Global Vegan Cosmetics Market

The 2020 lockdown restrictions worldwide due to the Covid-19 pandemic led to social distancing, accelerated shifts to remote working, and reduced domestic & international business travel, thereby diminishing the demand for cosmetic products globally. Additionally, reduced disposable income and increasing consumer focus on saving money during uncertain times contributed to their increased inclination toward lower-priced & value-for-money products.

It resulted in a significant reduction in the demand for vegan cosmetics due to their higher costs than conventional cosmetics. However, continuous requirements from developed nations like the US, Russia, etc., due to a change in customer buying behavior & consciousness towards product ingredients, are shifting consumers from animal-based cosmetic products to sustainable plant-based cosmetics, and the same trend is likely to be followed in the coming years.

Global Vegan Cosmetics Market Research Report: Forecast (2022-27)

Market Segmentation

By Product:

  • Skin Care
  • Hair Care
  • Makeup
  • Others (Lip Care, Nail Care, etc.)

Of them all, vegan Skincare cosmetics are expected to gain significant traction during 2022-27, primarily due to the rapidly increasing awareness regarding the beneficial properties & characteristics of vegan skincare cosmetics products, such as soothing skin, healing ailments, etc., i.e., alluring consumers to buy such products worldwide. Additionally, when human skin gets exposed to sun radiations, it develops the chances of premature aging, wrinkles, leather formation, liver spots, etc., which requires protection through skin lotions & creams to avoid excess heat stress.

Since the presence of chemicals in animal-based cosmetic products leads to several skin allergies, the mounting awareness among consumers regarding the severe effects of these chemicals is providing more opportunities for market players to expand their product portfolio in the skincare segment. Hence, based on these aspects, the demand for vegan skincare cosmetic products globally is likely to upsurge significantly in the years to come.

By Sales Channel:

  • E-commerce
  • Offline Stores
    • Hypermarket/Supermarket
    • Departmental Stores
    • Specialty Stores
    • Others

Here, the E-commerce segment is expected to attain a sizeable share in the revenue growth of the global market during 2022-2027. The rapid emergence of e-commerce platforms has increased the product offerings accompanied by lucrative discounts, doorstep deliveries, and secured payment gateways. The vegan cosmetic market has benefitted significantly from e-commerce, i.e., expecting substantial growth due to convenience in product selection, availability of diverse brands, and various promotional offers online. Furthermore, celebrity influence in the youth for the use of cruelty-free vegan products and rise in social awareness among consumers are other crucial aspects expected to drive the market through E-commerce platforms. For instance:

  • In August 2021, the UK-based model & actress coordinated with a biotechnology company 'Amyris' to launch a vegan beauty brand, "Rose Inc." through e-commerce platforms in the UK, the US, Canada, & Australia.

Furthermore, several initiatives made by celebrities for promoting plant-based cosmetic products worldwide shall further fuel the sales of vegan cosmetic products through e-commerce platforms owing to their wider availability & easy convenience. 

Regional Landscape:

Geographically, the Global Vegan Cosmetics Market expands across:

  • North America
  • Europe
  • Middle East & Africa
  • Asia-Pacific
  • South America

Of all regions, North America is expected to witness increasing demand for plant-based cosmetic products during 2022-27. Rising consumer awareness regarding the ill effects of compounds like paraben and aluminum compounds in cosmetic products used in conventional hand creams, hair products, etc., have shifted consumers toward natural cosmetics. The use of chemical-based cosmetic products globally has led to increasing skin diseases among North Americans, thereby surging the demand for chemical-free vegan products. According to the Cancer Treatment Centers of America (CTCA), using chemicals like paraffin and some types of oil in skin & hair care products may increase the risk for certain types of non-melanoma skin cancers.

  • In January 2021, Baxter of California (parent company: L'Oréal) announced a ban on using badger hair in their cosmetic products, as influenced by PETA & many other supporters.

Hence, continued efforts like this by the regional governments & other concerned authorities to prohibit using animal-derived ingredients in cosmetics manufacturing are expected to drive the revenue of the North America Vegan Cosmetics Market during 2022-27.

Recent Developments by Leading Companies:

  • In December 2021, L'Oréal announced to acquire Youth to the People, an American vegan skincare company based in California, to deepen its ethical offering in an increasingly competitive market.
  • In 2018, Pacifica, a 100% vegan & cruelty-free cosmetic brand, announced the launch of a new line of vegan cosmetic products focussed on providing a healing cosmetic effect to customers.

Market Dynamics:

Key Driver: Increasing Government Initiatives for the Production of Chemical-free Cosmetics

The regulatory frameworks for the cosmetics industry have been put in place owing to the rising cruelty towards animals, mounting concerns over skin allergies, and the possibility that some chemical contents within their products could cause long-term health risks. Governments across North America, Europe, & Asia-Pacific regions have introduced various policies to stop the usage of animal-derived components during the production of cosmetics & personal care products. For instance:

  • In June 2021, the Ministry of the United States Senate introduced a bill to modernize safety standards for personal care products, focusing on using natural ingredients in them.

Similarly, many other countries like India, Israel, Brazil, Taiwan, Turkey, South Korea, China, etc., have imposed bans on animal testing for cosmetics & cosmetic ingredients. Such initiatives, supported by cosmetic giants Unilever, L'Oréal, LUSH, Avon, etc., are projected to propel the demand for vegan cosmetics in the respective regions and, in turn, drive the global market in the coming years.

Growth Restraint: Lack of Awareness about Vegan Cosmetic Products

The overall prevalence of cosmetic products is increasing among both males & females. However, the associated awareness regarding the beneficial properties of vegan beauty products is not present widely. Additionally, significant health risks caused by using chemical cosmetics, especially in developing & underdeveloped countries of Asia-Pacific, Middle East & Africa, and Latin America, might hinder the growth of the Global Vegan Cosmetics Market across these regions. Besides, the lower availability & higher costs of these cosmetic products also add a considerable growth challenge for the global market during 2022-27.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Vegan Cosmetics Market?
  2. What is the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Vegan Cosmetics Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Vegan Cosmetics Market based on a competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Vegan Cosmetics Market study?  

Frequently Asked Questions

A. The Global Vegan Cosmetics Market is projected to grow at a CAGR of around 6.25% during 2022-27.

A. North America is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Vegan Cosmetics Market during 2022-27.

A. The increasing number of men across North America & Asia-Pacific paying more attention to grooming & fashion to improve their appearance is a crucial aspect expected to provide profitable opportunities to the Global Vegan Cosmetics Market through 2027.

A. The Covid-19 pandemic in 2020 resulted in the change of buying behavior of consumers & made them more conscious about product ingredients. Hence, the switch in consumer demand from chemical & animal-based products to sustainable ones is projected to enhance the demand for vegan cosmetics and boost the global market in the coming years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Vegan Cosmetics Market
  5. Global Vegan Cosmetics Market Trends & Insights
  6. Global Vegan Cosmetics Market Dynamics
    1. Drivers
    2. Challenges
  7. Global Vegan Cosmetics Market Regulations & Policies
  8. Global Vegan Cosmetics Market Supply Chain Analysis
  9. Global Vegan Cosmetics Market Hotspots & Opportunities
  10. Global Vegan Cosmetics Market Outlook, 2017-2027FF
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
        1. Skin Care
        2. Hair Care
        3. Makeup
        4. Others (Lip Care, Nail Care, etc.)
      2. By Sales Channel
        1. E-Commerce
        2. Offline Stores
          1. Hypermarket/Supermarket
          2. Departmental Stores
          3. Specialty Stores
          4. Others (convenience Stores, Discount Stores, etc.)
    3. By Packaging
      1. Pumps & Dispensers
      2. Compact Cases
      3. Jars
      4. Pencils & Sticks
      5. Tubers
      6. Others (Blisters & Strip Packs, Aerosol Cans, etc.)
    4. By End User
      1. Women
      2. Men
      3. Kids
    5. By Region
      1. North America
      2. South America
      3. Europe
      4. Middle East & Africa
      5. Asia Pacific
    6. By Company
      1. Competition Characteristics
      2. Market Share of Leading Companies, By Revenues
      3. Top 10 Best Selling Brands
  11. North America Vegan Cosmetics Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
      2. By Sales Channel
      3. By Packaging
      4. By End User
      5. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    4. Canada Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    5. Mexico Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
  12. South America Vegan Cosmetics Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
      2. By Sales Channel
      3. By Packaging
      4. By End User
      5. By Country
        1. Brazil
        2. Argentina
    3. Brazil Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    4. Argentina Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
  13. Europe Vegan Cosmetics Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
      2. By Sales Channel
      3. By Packaging
      4. By End User
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
    3. Germany Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    4. The UK Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    5. France Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    6. Italy Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    7. Spain Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
  14. Middle East & Africa Vegan Cosmetics Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
      2. By Sales Channel
      3. By Packaging
      4. By End User
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. Israel
        4. Egypt
        5. Turkey
        6. South Africa
    3. Saudi Arabia Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    4. UAE Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    5. Israel Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    6. Egypt Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    7. Turkey Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    8. South Africa Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
  15. Asia Pacific Vegan Cosmetics Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues (USD Billion)
    2. Market Share & Analysis
      1. By Product
      2. By Sales Channel
      3. By Packaging
      4. By End User
      5. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Australia
    3. China Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. End User
    4. Japan Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    5. India Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    6. South Korea Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
    7. Australia Vegan Cosmetics Market Outlook, 2017-2027F
      1. Market Size & Analysis
        1. By Revenues (USD Billion)
      2. Market Share & Analysis
        1. By Product
        2. End User
  16. Global Vegan Cosmetics Market Key Strategic Imperatives for Growth & Success
  17. Competition Outlook
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. MuLondon
      2. Beauty Without Cruelty
      3. Nature’s Gat
      4. Billy Gealousy
      5. L’Oréal Groupe
      6. Mo MI Beauty
      7. Emma Jean Cosmetic Inc.
      8. Inika
      9. Gabriel Cosmetic Inc.
      10. Groupe Rocher
      11. Pacifica Beauty
      12. E.l.f. Cosmetic Inc.
      13. Coty Inc.
      14. Kose Corp.
      15. Natura Interantional Inc.
      16. MAV Beatury Brands Inc.
      17. The Estee Lauder Co. Inc.
      18. Lush Retail Ltd.
      19. Debenhams Plc.
      20. Charlotte Tilbury Beauty Ltd.
  18. Disclaimer