BANGALORE, India, April 20, 2022 /PRNewswire/ — Vegan Cosmetics Market is segmented by Type – Makeup, Skincare, Haircare, Others, by Application, E-Commerce, Hypermarket/Supermarket, Specialty Stores, Department Stores, Others. Global Opportunity Analysis and Industry Forecast 2022 – 2028. It is published in Appreciate the reports under the Makeup & Cosmetics Category.
The global vegan cosmetics market size is expected to reach 21780 million USD by 2028, $15,960 million in 2021, at a CAGR of 4.5% over the period 2022-2028.
The major factors driving the growth of the vegan cosmetics market are:
Rising demand for personal care products, along with increased awareness of vegan and cruelty-free products, is driving the vegan cosmetics market.
Rising health concerns regarding the negative effects of petroleum-based cosmetic ingredients, along with the high prevalence of several skin disorders, are fueling the growth of the vegan cosmetics market.
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TRENDS INFLUENCING THE GROWTH OF THE VEGAN COSMETICS MARKET
Growing consumer demand for cruelty-free products is expected to drive the growth of the vegan cosmetics market. Consumers today not only care about finding the right shade of lipstick for them, but also how that lipstick is made. Animal testing is being phased out of the global cosmetics industry. Several countries have already passed laws prohibiting the sale and manufacture of cosmetics tested on animals. Consumer demand is moving away from the use of animals in the development of new products.
Growing demand for personal care products is expected to drive the vegan cosmetics market. Vegan cosmetics are rich in vitamins, minerals, antioxidants, gelatin, collagen and other naturally extracted ingredients. With toxin-free ingredients, these beauty products offer several advantages over chemical-based cosmetics in terms of reducing skin acne, maintaining skin nutrition and improving skin health. . As a result, vegan cosmetics, such as facial beauty products, eye cosmetics, nail makeup, hair styling, and coloring products, are widely available.
The emergence of e-commerce is expected to further propel the growth of the vegan cosmetics market. With the rise of e-commerce platforms, product offerings have increased, along with attractive discounts, home delivery, and secure payment gateways. Additionally, in order to expand their customer base, several luxury apparel and accessory brands are incorporating vegan cosmetics into their product portfolios.
Additionally, the growing influence of social media beauty trends, along with the growing number of celebrity endorsements for promoting the use of vegan cosmetics, are increasing the demand for the product. In addition to traditional women’s cosmetics, several manufacturers now offer vegan men’s grooming products to meet their changing preferences and needs.
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ANALYSIS OF VEGAN COSMETICS MARKET SHARE
By type, skincare products are expected to be the most lucrative segment.
Based on the application, e-commerce is expected to be the most lucrative segment due to the ease with which you can choose a product and the availability of a wide range of products and promotional offers.
Based on the region, Europe is expected to be the most lucrative due to growing demand for natural and organic products, advancement in cosmetics industry and presence of key players in this region, Europe is expected to capture the largest share of the global vegan cosmetics market.
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Market by region
Middle East & Africa
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Market by company
Modern Mineral Makeup
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– The Global cruelty-free cosmetics market the size is estimated at the value $6479.2 million in 2022 and is expected to reach a readjusted size of $7,919.4 million by 2028 with a CAGR of 3.4% over the reporting period.
– The Global feminine hygiene products market the size should reach 41860 million USD by 2027, 31960 million USD in 2020, at a CAGR of 4.6% over the period 2021-2027.
– The Global herbal extract markett is estimated at the value $17790 million in 2022 and should reach 31170 million USD by 2028 at a CAGR of 9.8% over the forecast period.
– The Global Consumer skin care devices market the size is estimated at the value $51,380 million in 2022 and should have a readjusted size of US$149,630 million by 2028 with a CAGR of 19.5% over the reporting period.
– The Global perfume market the size is estimated at the value 43420 million USD in 2022 and should have a readjusted size of 70830 million USD by 2028 with a CAGR of 8.5% over the review period.
– The Global glycerin market the size is estimated at the value $2552 million in 2022 and should have a readjusted size of $3,518.8 million by 2028 with a CAGR of 5.5% over the review period.
– Global Vegan Cosmetics Market Overview and Forecast to 2028
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