Vegan Cosmetics Market Forecast and Trends Analysis Research Report 2020-2027

Vegan cosmetics are derived from natural and organic plant-based ingredients and do not contain any animal products, animal by-products, or animal derivates. The vegan cosmetics consists of a wide range of products such as skin care, hair care, and makeup products which are suitable for all skin types. Most of the vegan cosmetics come with sustainable packaging and properly labelled ingredients. Vegan Cosmetics gives a healthier look and reduces the chances of skin allergies while maintaining the sustainability of the environment.

The major factors propelling the growth of the Global Vegan Cosmetics market include the expanding demand for personal care products and the rising awareness about the cruelty free products across the globe. With the growing environmental awareness, the customer’s purchasing preferences and patterns have shifted towards animal-free products. The increasing emphasis on the research and development activities related to the vegan-products will create new opportunities in the market, thereby boosting the demand of the market. Moreover, the growing trend of beauty blogs and various social media campaigns promoting naturally derived products will have a positive impact on the demand of the Global Vegan Cosmetics.

The vegan cosmetics industry is highly backed by celebrities from different part of the world such as, Ariana Grande and Jenna Dewan who promotes the usage of vegan beauty products. The increasing support from celebrities along with expansion in the availability of the products on various e-commerce platforms and in retail stores will further stoke the growth in the Global Vegan Cosmetics market. Various government initiatives have been launched in different nations to encourage the production of chemical-free cosmetics. For instance, in 2016, Dianne Feinstein introduced the Personal Care Products Safety Act in the U.S., focusing on the usage of natural ingredients in personal care products. On the other hand, the presence of aluminium, blue or red lake colorants, lead, chromium, and cadmium in vegan cosmetics products which damages the skin tissues is likely to hamper the growth of the market.

Based on the Product, the Global Vegan Cosmetics market is segmented into Skin Care, Hair Care, Makeup, and Others. The hair care products segment is projected to grow at a higher CAGR owing to the increasing demand for chemical-free hair products due to the changing lifestyles of the customers. Various multinational giants such as Zuzu Luxe and Bare Blossom are focusing on product development to capture the growing demand of the target customers. These innovations in the vegan cosmetics market will surge the growth of the market. The vegan makeup segment is expected to grow at a faster CAGR due to its remarkable advantages such as no harmful chemicals, less ingredient usage, high content of moisture extracted from plants, and is suitable for sensitive skin. Moreover, the increasing awareness about the naturally-derived beauty products among females and millenniums is further boosting the demand for the Global Vegan Cosmetics market over the coming years.

Based on the Distribution Channel, global vegan cosmetics market segmented into Hypermarket/Supermarket, Specialty Stores, Convenience Stores, Online Stores, and Others. The online segment is expected to grow at a faster CAGR due to the easy availability of a wide variety of products along with attractive discount offers. The adoption of modern lifestyle and long working hours have shifted the consumer’s demand towards e-shopping in order to save their time and money.

Based on the region, North America is anticipated to the fastest market growth during the forecast period owing to the tremendous shift in the consumer’s preference towards the usage of vegan products. Moreover, the large presence of major market players such as L’Oréal and the expanding product portfolio in the market is anticipated to surge growing demand in the market.
Various notable players operating in the market include Bare Blossom, Zuzu Luxe, Ecco Bella, Mo Mi Beauty, Emma Jean Cosmetics, INC, L’Oréal S.A. (Urban Decay), Pacifica, MuLondon Organic, Billy Jealousy, Groupe Rocher, among others.

Key Developments

• In 2018, Pacifica launched a new line of product ranging from perfumes to hair products focused on providing a healing effect to the customers. The Crystal Collection includes Aromapower aromatherapy, Hardcore Happy Aromapower Shimmering Hair and Body Mist, Contact High perfume, and many more luxurious bathing products.
• In 2018, Groupe Rocher acquired Arbonne International and Nature’s Gate, two vegan cosmetics brands under the holding company Natural Products Group (NPG). The main aim of the acquisition was to share the innovation standards, resources, and expertise to strengthen the network of consumers, supplier, and partners.
• In 2017, MuLondon announced the new organic certification by The Soil Association. The company produces cruelty-free products, especially for sensitive skin since 2008.

The Global Vegan Cosmetics market has been segmented based on Product, Distribution Channel, and Region. Based on Product, the market is segmented into Skin Care, Hair Care, Makeup, and Others. Based on the Distribution Channel, the market is segmented into Hypermarket/Supermarket, Specialty Stores, Convenience Stores, Online, and Others.

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Created on May 13th 2020 05:11. Viewed 411 times.

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