The global vegan cosmetics market is anticipated to grow at a CAGR of 6.2% during the forecast period (2022-2028). A significant rise in the awareness regarding cruelty free cosmetics is accelerating the growth of the market. Berlin-based vegan supermarket chain Veganz has conducted research into veganism in Europe, finding that within four years the number of vegans has doubled from 1.3 million in 2016 to 2.6 million in 2020. Interviewing over 2,600 shoppers aged 15 to 64 from countries around Europe, Veganz found that the vegan trend was strongest in its own country of Germany. This results in the driving demand for cosmetics without animal ingredients and thereby pushing the adoption of vegan cosmetics.
Browse the full report description of “Vegan Cosmetics Market Size, Share & Trends Analysis Report, By Type (Skin Care, Hair Care, Makeup, and Others), By Distribution Channel (E-commerce, Hypermarkets/Supermarkets, Departmental Stores, Specialty Stores, and Others), Forecast Period (2022-2028)” at https://www.omrglobal.com/industry-reports/vegan-cosmetics-market
Recent Developments
• In February 2021, G&M Cosmetics, based in Australia, plans to expand its vegan beauty and baby care offerings. With the acquisition of P'URE Papayacare skincare in 2019, the company entered the vegan beauty industry. Since then, the brand has grown to include 15 vegan-friendly and certified goods.
• In January 2021, Elf Cosmetics, a well-known vegan and cruelty-free cosmetics brand, introduced its products in India. Nykaa, an online beauty portal, will be the retailer for the product.
• In December 2019, CoverGirl, a Coty-owned cosmetics brand, debuted its new 'Clean Fresh' cosmetics essentials collection, which features vegan formulas and natural ingredients like coconut milk and aloe extracts.
• In September 2019, Sally Hansen debuted a vegan and plant-based nail paint range. Another brand to make an appearance was Avon, which introduced "The Disillery," a vegan cosmetics line.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Distribution Channel
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- MuLondon Ltd., Estee Lauder Companies Inc., Loreal SA, Amway Corp., and L’OCCITANE Group.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Vegan cosmetics Market Report by Segment
By Type
By Distribution Channel
Global Vegan Cosmetics Market Report by Region
North America
• US
• Canada
Europe
• The UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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