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Vegan Cosmetics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 120 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4617289

FEATURED COMPANIES

  • Beauty Without Cruelty
  • COTY Company
  • Eyes Lips Face
  • Gabriel Cosmetics Inc.
  • Groupe Rocher
  • Loreal SA
The global vegan cosmetics market is anticipated to register a CAGR of 6.5% during the forecasted period (2022-2027).

The COVID19 crisis has significantly affected the market. There was a change in the consumers' buying behavior as they were trending towards organic and natural products. During the pandemic, the consumers were more aware of the impacts of using chemically composed cosmetics and the side effects of these products on the skin. The manufacturing companies have witnessed sales growth through e-commerce websites rather than retail stores. This was mainly because of the closures of several stores due to rules and regulations imposed by the government. L'occitane, a key cosmetic industry player, has estimated sales growth of sales by14.6% during fiscal 2021.

The shift in consumer preference during the pandemic led to seeking healthier cosmetics options causing the sales of organic and vegan products to surge. Moreover, with enhanced online transactions, startups and private label brands have benefited from the market studied.

The market growth is driven by increasing consumer awareness of the usage of animal-derived ingredients. The increasing demand from mainstream consumers worldwide for vegan-certified products is expected to push the revenue generation in the global market over the medium term.

Key Market Trends


The Trend of Green Cosmetics


The cruelty-free (no animal testing), vegetarian (no byproducts of animal slaughter), and vegan (no animal ingredients at all) beauty market has exploded in recent years.​ Consumers prefer vegan cosmetics because these products are ethical as the manufacturing process of vegan cosmetics doesn't use any source of animal parts. Eventually, due to the medical benefits of vegan cosmetics on the skin, consumers prefer these products over non-vegan cosmetics. Moreover, because vegan cosmetics can help to reduce the damage to the skin that is created due to several environmental changes and increasing pollution around the globe, for example, the anti-oxidants present in vegan cosmetics are naturally processed from plants and can help to reduce dryness of the skin. Thus, due to the benefits consumers can gather using these products, the demand for plant-based ingredients is growing, which is also elevating the growth of the vegan cosmetics market.



Europe is the Largest Market


The European region has witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum compounds present in skincare, hair care, and deodorants. Based on its natural and ethical formulation, many European consumers choose one brand over others. Vegan beauty product sales have increased substantially in the United Kingdom during the past few years. This has recently increased the demand for safe, natural, and organic vegan cosmetics products.​ The purchases are based on efficacy, longer-lasting protection, and clinical properties. The demand for vegan ingredients has been quite evident in the market. This has led to a majority of companies launching products with nature-inspired ingredients, such as plant-inspired and premium botanical ingredients, coupled with multi-functional properties. For instance, in 2019, Avon United Kingdom launched a range of vegan skincare and make-up line distillery in the market.



Competitive Landscape


The vegan cosmetics market is competitive. This is due to several domestic and international players in this segment. The major players in this industry are Loreal SA, Coty Inc., MuLondon, Billy Jealousy, and Beauty Without Cruelty. These companies are widening their operational boundaries across different countries in the world.​ Major players are focusing on introducing new products in the market to cater to the players' interests and enhance their spot in the market. Major emerging market players targeting leading brands are making strategic acquisitions of the market leaders in the more mature and sophisticated markets.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

FEATURED COMPANIES

  • Beauty Without Cruelty
  • COTY Company
  • Eyes Lips Face
  • Gabriel Cosmetics Inc.
  • Groupe Rocher
  • Loreal SA

1 INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Facial Cosmetics
5.1.2 Eye Cosmetic Products
5.1.3 Lip and Nail Make-up Products
5.1.4 Hairstyling and Coloring Products
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retailing
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 MuLondon
6.4.2 Loreal SA
6.4.3 Beauty Without Cruelty
6.4.4 Nature's Gat
6.4.5 MO MI BEAUTY
6.4.6 Eyes Lips Face
6.4.7 COTY Company
6.4.8 Gabriel Cosmetics Inc.
6.4.9 Groupe Rocher
6.4.10 Pacifica Beauty
7 MARKET OPPORTUNITIES AND FUTURE TRENDS8 IMPACT OF COVID-19 ON THE MARKET

A selection of companies mentioned in this report includes:

  • MuLondon
  • Loreal SA
  • Beauty Without Cruelty
  • Nature's Gat
  • MO MI BEAUTY
  • Eyes Lips Face
  • COTY Company
  • Gabriel Cosmetics Inc.
  • Groupe Rocher
  • Pacifica Beauty

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