Forecasting the Vegan Cosmetics Market: Key Metrics & Industry Overview

Vegan Cosmetics Market Poised for Robust Growth, forecasted to Expand at 7.0% CAGR from 2024-30

MarkNtel Advisors has released its latest report highlighting strong growth in The Global Vegan Cosmetics Market size was valued at USD 17 Billion in 2022 and is projected to grow at a CAGR of around 7.0% during the forecast period, i.e., 2024-30. 

Report Coverage

This report offers a comprehensive analysis of the Vegan Cosmetics Market, providing valuable insights across historical trends, current dynamics, and future forecasts.

• Base Year: 2023
• Forecast Years: 2024-30
• Historical Years: 2019-22

Vegan Cosmetics Market Overview

The market dynamics have been predominantly influenced by the shifting consumer preferences toward natural & clean-label products owing to the negative impact of animal-derived products on health, environment, & animal welfare, coupled with the increasing Green House Gas (GHG) emissions. The rising animal abuse in the cosmetics manufacturing & fashion industries, etc., has accelerated the species extinction rates, with grave impacts on the ecosystem.

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Vegan Cosmetics Market Segmentation Outlook

The Vegan Cosmetics is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

By Product

• Skin Care
• Hair Care
• Makeup
• Others (Lip Care, Nail Care, etc.)

By Sales Channel

• E-Commerce
• Offline Stores
  • Hypermarket/Supermarket
  • Departmental Stores
  • Specialty Stores
  • Others (convenience Stores, Discount Stores, etc.)

By Packaging

• Pumps & Dispensers
• Compact Cases
• Jars
• Pencils & Sticks
• Tubers
• Others (Blisters & Strip Packs, Aerosol Cans, etc.)

By End User

• Women
• Men
• Kids

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia Pacific

Vegan Cosmetics Market Trend

Cosmetic Brands Embracing AI Platforms to Offer Tailored Beauty Solutions: Customers worldwide are turning to customized cosmetic products based on their skin types & complexities. As such, companies like Unilever, LOTUS, etc., are pacing toward developing personalized or customized vegan cosmetic products by integrating AI-powered platforms to analyze skin & hair selfies taken by customers, offering them relevant product recommendations. 

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Top Vegan Cosmetics Market Brands & Their Strategic Market Positioning

MarkNtel Advisors Research identifies MuLondon, Beauty Without Cruelty, Nature’s Gat, Billy Gealousy, L’Oréal Groupe, Mo MI Beauty, Emma Jean Cosmetic Inc., Inika, Gabriel Cosmetic Inc., Groupe Rocher, Pacifica Beauty, E.l.f. Cosmetic Inc., Coty Inc., Kose Corp., Natura Interantional Inc., MAV Beatury Brands Inc., The Estee Lauder Co. Inc., Lush Retail Ltd., Debenhams Plc., Charlotte Tilbury Beauty LtdOthers as key players shaping the market landscape.

Vegan Cosmetics Market News

• In April 2024, L’Oréal announced that it had signed an agreement with Natura &Co to acquire A?sop, the Australian luxury beauty brand.

Key Questions Answered in the Report

• What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
• How the industry has been evolving, and which segments would dominate the market during the forecast period?
• What are the key opportunity areas that companies foresee in the coming years 2030?
• Who are the key players in the market, and what are their competitive strengths?
• What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?

Need tailored data? We offer customized forecasts by region, product segmentation, and competitive intelligence upon request — now with an exclusive special pricing offer – Customized Link

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