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Vegan cosmetics encompasses various beauty and personal care products that do not use any animal-derived ingredients or by-products in their composition, with a particular focus on reusable or recyclable packaging. This market aims at end-users seeking cruelty-free, eco-friendly alternatives in their daily skincare and makeup routine. Spiraling customer awareness about animal welfare, along with an increasing number of people adopting vegan lifestyles, is primarily fueling the increase in the usage of vegan cosmetics. Rising demand for plant-based products and increasing endorsements by celebrities and social media influencers for vegan cosmetics drive the market growth. Higher production costs due to the expensive raw materials and manufacturing processes and limited shelf-life of vegan cosmetics hamper the market growth. Rising investments by market vendors in thorough R&D for diversifying their product range, sourcing unconventional plant-based materials, and improving the longevity of their products are expected to create opportunities for market growth. Pertinent advancements in biotechnology and green chemistry are expected to create a platform for the growth of the market.
Regional Insights
The vegan cosmetics market in the Americas region is highly developed, with a large number of prominent players making the market highly competitive. The manufacturers strive to launch innovative products based on consumer reviews and requirements to fit the needs. The increasing demand for vegan cosmetics in the Americas is attributed to women being more aware of the importance of self-care with rising pollution that harms the body and the rising trend of using the products on social media platforms. In the EU countries, strict regulations against animal testing and a significant increase in ethical consumerism are significant driving factors for the rise in vegan cosmetics. Moreover, Middle Eastern countries are also gradually shifting their preference towards such cruelty-free products, primarily due to their Halal properties. The Asia-Pacific region contains several emerging economies with large population densities, which provides plenty of opportunities for the vegan cosmetics market to grow profusely. The brand value of South Korean and Japanese products in the global market is considerably high, creating a platform for vegan cosmetics.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Vegan Cosmetics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Vegan Cosmetics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Vegan Cosmetics Market, highlighting leading vendors and their innovative profiles. These include ADORN IP PTY LTD., AROMATICA, ASA Beauty Private Limited, AU NATURALE COSMETICS, Axiology, Beauty Without Cruelty by Lotus Brands, Inc., BEIGIC, Benton Inc., Billy Jealousy LLC, BlushBee Organic Beauty, BYENA Beauty GmbH, Daughter Earth by Eternite Elements Pvt Ltd., Debenhams Brands Limited, e.l.f. Beauty Inc., Ecco Bella, Emma Jean Cosmetics, Inc., Ethical Elephant, Ethique Limited, Gabriel Cosmetics Inc., Hiro Cosmetics, INIKA Organic, Jillian Dempsey, Lethal Cosmetics GmbH & Co. KG., LOGOCOS Naturkosmetik GmbH & Co. KG by L'Oréal S.A., Lush Limited, MO MI Beauty, Monave, MuLondon LTD, New Milani Group LLC, Nui Cosmetics, Nykaa E-Retail Pvt. Ltd., Organic Harvest, PURE U. Cosmetics, The Body Shop International Limited, Und Gretel, and Unilever PLC.Market Segmentation & Coverage
This research report categorizes the Vegan Cosmetics Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product
- Hair Care
- Makeup
- Skin Care
- Sales Channels
- Offline
- Departmental Stores
- Hypermarket & Supermarket
- Specialty Stores
- Online
- Offline
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Vegan Cosmetics Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Vegan Cosmetics Market?
- What are the technology trends and regulatory frameworks in the Vegan Cosmetics Market?
- What is the market share of the leading vendors in the Vegan Cosmetics Market?
- Which modes and strategic moves are suitable for entering the Vegan Cosmetics Market?
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What is the estimated value of the Global Vegan Cosmetics Market?
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What is the forecasted size of the Global Vegan Cosmetics Market?
Who are the key companies in the Global Vegan Cosmetics Market?
Report Attribute | Details |
---|---|
No. of Pages | 196 |
Published | March 2024 |
Forecast Period | 2024 - 2030 |
Estimated Market Value ( USD | $ 18.67 Billion |
Forecasted Market Value ( USD | $ 29.29 Billion |
Compound Annual Growth Rate | 7.7% |
Regions Covered | Global |
No. of Companies Mentioned | 36 |
Table of Contents
Companies Mentioned
- ADORN IP PTY LTD.
- AROMATICA
- ASA Beauty Private Limited
- AU NATURALE COSMETICS
- Axiology
- Beauty Without Cruelty by Lotus Brands, Inc.
- BEIGIC
- Benton Inc.
- Billy Jealousy LLC
- BlushBee Organic Beauty
- BYENA Beauty GmbH
- Daughter Earth by Eternite Elements Pvt Ltd.
- Debenhams Brands Limited
- e.l.f. Beauty Inc.
- Ecco Bella
- Emma Jean Cosmetics, Inc.
- Ethical Elephant
- Ethique Limited
- Gabriel Cosmetics Inc.
- Hiro Cosmetics
- INIKA Organic
- Jillian Dempsey
- Lethal Cosmetics GmbH & Co. KG.
- LOGOCOS Naturkosmetik GmbH & Co. KG by L'Oréal S.A.
- Lush Limited
- MO MI Beauty
- Monave
- MuLondon LTD
- New Milani Group LLC
- Nui Cosmetics
- Nykaa E-Retail Pvt. Ltd.
- Organic Harvest
- PURE U. Cosmetics
- The Body Shop International Limited
- Und Gretel
- Unilever PLC
Methodology
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