Richmond, Jan. 25, 2024 (GLOBE NEWSWIRE) -- According to a research report "Vegan Cosmetics Market”, by Product Type (Facial Products, Eye Products, Lip Products, Nail Products, Others), Packaging (Jars, Compact cases, Tubes, Pencil and sticks, Others), by End user (Personal , commercial), by Gender ( Men, Women ,Children) ,by Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Departmental Stores, Others) and Region - Global Forecast to 2030.
Global Vegan Cosmetics Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 16.70 Billion |
| Market size value in 2030 | USD 27.5 Billion |
| CAGR (2023-2030) | 6.4% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Packaging, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Vegan Cosmetics Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Vegan-cosmetics market occupies a pivotal role in the beauty industry has witnessed a significant transformation in recent years, with consumers increasingly prioritizing sustainability, ethical practices, and wellness. One of the emerging trends in this sector is the rise of vegan beauty products, which offer nature-inspired, sustainable alternatives to conventional cosmetics. Vegan beauty products are formulated without the use of animal-derived ingredients and are not tested on animals, aligning with the principles of cruelty-free and ethical beauty. This research paper aims to explore the emergence and growth of vegan beauty in the Indian market and examine its transformative impact on the cosmetics industry.
The market growth is the rise of vegan consumerism all across the world wherever customers are against animal cruelty and are seeking cosmetics that do not contain any animal ingredients. Therefore, there is a shift within the Vegan Cosmetic Market principally propelled by ethically aware customers choosing vegan merchandise. The growing shopper preference towards the vegan cosmetics due to the increasing quality of atmosphere property beauty products among customers, rising physical concern among people, and therefore the increasing awareness relating to differing kinds of cruelty-free beauty products are the factors leading to the expansion of worldwide Vegan Cosmetic Market.
Major vendors in the global Vegan cosmetics market:
- Annmarie Gianni
- Black Phoenix Alchemy Lab
- Carolina Herrera
- CBDFX
- Chiky Botanica
- Derma-E
- Elements Of Aliel
- Ellovi
- ESW Beauty
- Florame
- Gypsy Soul Organics
- Lavanila, Inc.
- Nourish Mantra
- Nuria Beauty
- Pacifica Beauty
- Phlur
- Plant Based Beauty
- SeSpring
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Reduce risk of skin disease
Avoiding harsh chemicals, vegan beauty products often boast gentler, less irritating formulas that are more nourishing for your skin. They can reduce the risk of inflammation, allergies, and breakouts, providing a safer route to radiant skin.Vegan beauty products reduce the risk of aggravating the skin because they are made of natural and organic ingredients that are gentle and can be used on even the most sensitive skin. Skin is the largest organ of the body and anything we put on our skin gets absorbed immediately into our bloodstream and gets circulated throughout the body. The chemicals as well as synthetic and artificial ingredients present in a lot o in care products cause more harm than we thought possible in the long term. However, natural components such as fragrances, essential oils, or certain fruits are common allergens in many beauty products, vegan or otherwise. Thus, it’s still crucial to read labels and perform skin patch tests. If you experience sudden discomfort or signs of an allergic reaction after using a vegan product, it’s essential to immediately seek treatment.
Market Dynamics
Drivers:
- Product safety due to natural ingredients
- Comparably more sustainable
- Reduce risk of skin diseases
- High in nutrients
Opportunities:
- Consumer increasingly shifting toward cruelty-free products
- Utilization of recycled materials
- Growth in eco-friendly products consumption
- Prioritization of sustainability
Advancements in Cruetly-free Technologies
As technology developed, outdated animal testing is being replaced with quicker, cheaper and more accurate methods. Critics point out that humane alternatives can be slow to implement, costly, and test only one compound at a time. Alternatives have shown positive results. For example, reconstructed human epidermis—which uses human skin donated from cosmetic surgery to replace the rabbit skin test—is more relevant to human reactions. Other methods replace the eye test by using (test-tube) human tissue. Computer-based systems allow for isolation of a select tissue or organ to conduct tests in an extremely controlled environment. These tests not only reduce animal testing, but are more precise and accurate at protecting humans from toxic substances. Another cruelty-free option is using ingredients that have already been established as safe.
North America dominates the market for Vegan cosmetics.
North America stands out as the dominating region in the global vegan cosmetics market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence of technological advancement, a strong culture of sustainability, and a well-established cosmetic industry.
The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient cosmetic options. The North American vegan cosmetics market caters not only to individual consumers but also to professionals in the beauty and wellness industry. Professional makeup artists, aestheticians, salons, spas, and beauty clinics are increasingly adopting vegan cosmetics in their practices. This trend is driven by the demand for cruelty-free and ethical options and the desire to offer clients products that are in line with their preferences.
North America has specific regulatory standards and certifications for vegan and cruelty-free products. For example, the Leaping Bunny certification, recognized in both the United States and Canada, ensures that cosmetics are free from animal testing at all stages of product development. These regulatory standards provide consumers with confidence and assurance when choosing vegan cosmetics, knowing that they meet specific ethical criteria. Governmental initiatives, such as the adoption of legislation banning animal experimentation and the simple accessibility of plant-based personal care products on e-commerce platforms, are anticipated to accelerate the growth of the North American vegan cosmetics market.
The Canned Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Vegan cosmetics market, the Packaging segment comprises of Sustainable packaging in which it has a lower environmental impact compared to conventional options. This sounds deceptively simple. After all, sustainability can encompass impacts across the lifecycle of packaging, from resource extraction to creation, to use (and reuse) and recycling or disposal.Sustainability also includes economic and social factors. This is because even when packaging is environmentally safe, it may not be financially viable for companies, meaning its use cannot be sustained. More, the creation of some eco-friendly packaging may have a social impact, such as by diverting land used to grow food.
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