Overview:

The global vegan cosmetics market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The cosmetic products that are free from animal-derived ingredient are called as vegan cosmetics products. These animal-derived ingredients include many ingredients such as beeswax, albumen, honey, cholesterol, lanolin, and many other ingredients.

The vegan cosmetics are also referred as cruelty-free products. Cruelty-free products means these products are not tested on any animal. However, all vegan cosmetics are not cruelty-free products.

Market Dynamics:

Increasing awareness about vegan products is a key factor driving growth of the global vegan cosmetics market. Growing social media advertising is playing crucial role in spreading social awareness about vegan cosmetics. Also, rising spending capacity of individuals is another key factor propelling growth of the target market.

In addition, growing working women population especially in emerging economies and rising product availability are some other factors resulting in global market growth. Also, rising awareness about special benefits of vegan cosmetic products such as high healing capacity and side effect free ingredients is supporting to generate high demand for vegan cosmetics across the globe.

Key Trends:

Growing number of products launches by key players operating in the global vegan cosmetics market is a key trend witnessed in the target market. Many key players are focusing on R&D to expand the product portfolio is resulting in high number of products launches across the globe. For instance, in December 2019, the COTY INC. owned brand CoverGirl has launched vegan beauty make up collection.

Regional Analysis:

For detailed understanding of market dynamics, the global vegan cosmetics market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In the year 2019, the global market was dominated by North America region with highest revenue share. This is attributed to high awareness and preference for vegan cosmetics among female population in countries in the region.

However, the target market in Asia Pacific region is expected to register significant growth during the forecast period. Growing market penetration and rising number of manufacturers in countries such as Japan, China, and India is expected to propel growth of the target market in the region.

Scope of the Report:

Detailed Segmentation:

Global Vegan Cosmetics Market, By Product Type:

• Skin Care
• Hair Care
• Makeup
• Other Product

Global Vegan Cosmetics Market, By Distribution Channel:

• Supermarkets/ Hypermarkets
• Specialty Stores
• E-commerce/ Online
• Other Channel

Key Players Covered:

Key players operating in the global vegan cosmetics market includes Arbonne International, LLC, The Unilever Group, L'Oréal S.A., ColourPop Cosmetics LLC, Emma Jean Cosmetics, Inc., Ecco Bella, MuLondon LTD, Urban Decay, l.f. Beauty, Inc., and Pacifica Beauty LLC.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Vegan Cosmetics Market by product type, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global vegan cosmetics market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.