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Global Vegan Cosmetics Market Outlook 2020: Global Opportunity and Demand Analysis, Market Forecast, 2019-2028

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  • 151 Pages
  • February 2022
  • Region: Global
  • Insure Insights
  • ID: 5543167
The global vegan cosmetics market size was estimated at USD 12.9 billion in 2018, at a CAGR of 5.8% during 2019-2028. Surging demand for personal care products, coupled with rising awareness regarding cruelty-free beauty, is expected to be one of the key trends escalating market growth. Consumers worldwide are becoming increasingly aware of the effects of their purchasing preferences and patterns on society and the environment. Consumers are now more conscious about choosing products and they also take note of raw materials and source origin.

Top Driver: Growing demand for chemical-free skin and hair products will drive the market growth

Changing the perception of consumers towards animal-free products, coupled with the growing popularity of environmentally sustainable products, is fueling the demand for naturally derived products. Manufacturing of naturally-derived products aid in reducing pollution and reducing dependence on petroleum-based products. Rising demand for chemical-free skin and hair products along with changing lifestyles of consumers is estimated to stoke the growth of the market. The growing trend of veganism, especially among the younger generation, is playing a pivotal role in the development of the market. With more millennials embracing vegan lifestyles, it is no longer considered unconventional. It is now trendy, with many A-list celebrities supporting the benefits of living a vegan lifestyle and increased options available online and on high street.

Skin Care Make Crucial Contribution for Growth of Global vegan cosmetics market

As per the product, Major cosmetic manufacturing companies across the globe have realized the importance of making products, which use ingredients that are mineral-based or plant-based, rather than manufacturing products that are infused with animal extracted ingredients. Animal-free products have far superior characteristics and beneficial properties such as healing ailments and soothing skin. The hair care cosmetics industry broadly comprises shampoos & conditioners, which are easily available, and vegan hair mousse, gel, spray, hair mask, and more, which are a little difficult to find, based on regional demographics. Several companies such as Zuzu Luxe and Bare Blossom invest heavily in research activities and explore the market to come up with organics (animal-free) ingredients such as babassu oil, which is procured from Brazil, and Western Australia’s sandalwood extracts, which are widely preferred by consumer base across the globe.

As per the sales channel, There are multiple user-friendly websites such as Vegan Cuts, Pangea the Vegan Store, and Vegan Essentials that provide a seamless shopping experience to consumers globally. E-commerce is a prominent segment in the vegan cosmetics market, with women being the primary end-users. Ease of shopping offered and availability of promotional offers and listed deals on a variety of brands are contributing to the growth of the segment. In several regions including Europe and the U.S., governments have provided flexibility in the working hours of supermarkets and hypermarkets, which indicates that they can be open till late at night. This provides significant growth opportunities for companies to strategically place their products in such supermarkets rather than drugstores or specialty retailers.

North America dominated to witness the fastest growth in the global vegan cosmetics market

The Physicians Committee across North America, more than 70% of the population claims to be more likely to use vegan cosmetics that are not animal tested and favors the development of animal-tested alternatives. The cosmetics market in the region is registering faster growth as compared to other regions. According to the CEO of L’Oréal, demand for cosmetics in North America is projected to be gradually rising, especially for vegan products. Presently, the rising demand for herbal cosmetics is supplementing the growth of the region. Therefore, large industry players in the region are launching new products for the population in the region.

China and Japan are sights of high growth rates in the Asia Pacific. Departmental stores and supermarkets are the most preferred retail platforms in the region. Spiraling demand for cruelty-free products such as color cosmetics, skin, sun care, and hair care products is one of the primary factors propelling the regional market.

Players to Focus on Vegan cosmetics market

Vegan products are strictly manufactured without any animal products and are not tested on animals. Focus on R&D activities is paving way for novel products and the use of natural harmless chemicals, which is helping market players to consolidate their positions in the arena. Cruelty-free cosmetic manufacturers are responsible for designing, manufacturing, packaging, and storing end-to-end products, catering to all requirements. Some of the key manufacturers in the industry are
  • Urban Decay
  • Ecco Bella
  • Bare Blossom
  • Billy Jealousy
  • MuLondon Organic
  • Modern Minerals Makeup.

These companies are widening their operational boundaries across different countries in the world.

Scope of the Report

By Type

  • Skin Care
  • Hair Care
  • Makeup

By Sales Channel

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

By Region

  • North America
  • Europe
  • Asia Pacific

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders a definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.

Chapter 1 Overview And Scope
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
Chapter 2 Our Research Practice
2.1 Our Research Methodology
2.2 Data Triangulation
2.3 Data Sources
2.4 Assumptions for the study
2.5 Approach Adopted
Chapter 3 Executive Summary
3.1 Market Snapshot
3.2 Regional Snapshot
3.3 Segment Summary
Chapter 4 Covid-19 Impact Analysis
4.1 Overview
4.2 Prevalence analysis
4.3 Key Factor Impact Analysis
Chapter 5 Global Vegan cosmetics Market Forces
5.1 What’s Driving the Market
5.2 Porter’s Five Forces Analysis
5.2.1 Power of Suppliers
5.2.2 Threats From New Entrants
5.2.3 Power of Buyer
5.2.4 Threat From Substitute Product
5.2.5 Degree of Competition
Chapter 6 Global Vegan cosmetics Market -Industry Snapshots
6.1 Overview
6.1.1 Global Vegan cosmetics Market Value, 2019 - 2028, (US$ Bn)
6.2 Market Overview
6.2.1 Drivers Analysis
6.2.2 Restraint/Challenges analysis
6.2.3 Opportunity Analysis
6.3 Supply Chain/Value Chain Analysis
6.4 Market SWOT Analysis
Chapter 7 Global Vegan cosmetics Market Analysis, by Type
7.1 Overview
7.2 Key Findings for Vegan cosmetics Market- By Type
7.2.1 Vegan cosmetics Market- Skin Care
7.2.2 Vegan cosmetics Market- Hair Care
7.2.3 Vegan cosmetics Market- Makeup
Vegan cosmetics market by Type 3, 2019 - 2028 (USD Million)
Chapter 8 Global Vegan cosmetics Market Analysis, by Product Type
8.1 Overview
8.2 Key Findings for Vegan cosmetics Market- By Product Type
8.2.1 Vegan cosmetics Market- E-commerce
8.2.2 Vegan cosmetics Market- Hypermarket/Supermarket
Vegan cosmetics market by Product Type 2, 2019 - 2028 (USD Million)
8.2.3 Vegan cosmetics Market- Departmental Store
8.2.4 Vegan cosmetics Market- Specialty Stores
Chapter 9 Vegan cosmetics Market Analysis by Region
9.1 Key Findings for Vegan cosmetics Market- By region
9.2 Overview
9.2.1 Global Vegan cosmetics Market Analysis, By Type, 2019 - 2028
9.2.2 Global Vegan cosmetics Market Analysis, By Product Type, 2019 - 2028
9.3 Vegan cosmetics Market - North America
9.3.1 Overview
9.3.2 U.S.
9.3.3 Canada
9.3.4 Mexico
9.3.5 North America Market, By Type
9.3.6 North America Market, By Product Type
9.4 Vegan cosmetics Market - Europe
9.4.1 Overview
9.4.2 Germany
9.4.3 United Kingdom
9.4.4 France
9.4.5 Italy
9.4.6 Rest Of Europe
9.4.7 Europe Market, By Type
9.4.8 Europe Market, By Product Type
9.5 Vegan cosmetics Market - Asia Pacific
9.5.1 Overview
9.5.2 China
9.5.3 Japan
9.5.4 India
9.5.5 Rest of APAC
9.5.6 Asia Pacific Market, By Type
9.5.7 Asia Pacific Market, By Product Type
9.6 Vegan cosmetics Market - SAMEA
9.6.1 Overview
9.6.2 Middle East & Africa (MEA)
9.6.3 South America
9.6.4 Rest Of World
9.6.5 South America, Middle East and Africa Market, By Type
9.6.6 South America, Middle East and Africa Market, By Product Type
Chapter 10 Market Competition Analysis
10.1 Market Share/Positioning Analysis
10.1.1 Market Positioning of Key Vendors, 2019
10.1.2 Key Strategies Adopted by the Leading Players
10.1.3 Recent Developments
Chapter 11 Company Profiles- Snapshot
11.1 Modern Minerals Makeup.
11.1.1 Business Fundamentals
11.1.2 Financial Snapshots
11.1.3 Product Portfolio
11.1.4 Recent Developments
11.2 Urban Decay
11.3 Ecco Bella
11.4 Bare Blossom
11.5 Billy Jealousy
11.6 MuLondon Organic
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies
Chapter 12 Appendix