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Global Vegan Cosmetics Market

Vegan Cosmetics Market Size, Share & Trends Analysis Report By Product Type(Skin Care, Hair Care, Makeup, Others), By Price Range(Low, Medium, High), By Distribution Channel, By Region, And Segment Forecasts, 2024-2031

Report ID : 1495 | Published : 2024-02-26 | Pages: 176 | Format: PDF/EXCEL

The Global Vegan Cosmetics Market Size is valued at USD 17.80 billion in 2023 and is predicted to reach USD 32.48 billion by the year 2031 at a 8.06% CAGR during the forecast period for 2024-2031.

vegan cosmetcs

Vegan cosmetics are made entirely of natural, organic plant-based substances and do not contain any ingredients of animal origin. By product type, the vegan cosmetics industry is divided into categories for facial cosmetics, cosmetic eye goods, lip and nail makeup, and hair styling and colouring. Because of the advantages consumers might get from using these products, the market for vegan cosmetics is expanding, as is the need for materials made from plants. Plant-based cosmetics with vegan ingredients are gaining popularity due to their many skin-friendly qualities, such as preserving skin by keeping harmful chemicals out of it. The sector is anticipated to grow as customers become more aware of using components made from animal products. 

The increased demand from mainstream consumers for products with vegan certification is expected to fuel revenue generation in the global market over the medium term. The need for vegan cosmetics is anticipated to expand dramatically in the following years. The trend is growing in the West at a never-before-seen rate, and it will soon be widespread and extremely promising across the entire planet. Additionally, the growth of e-commerce platforms has increased product offers backed by engaging discounts, doorstep delivery, and safe payment options. Some high-end clothing and accessory companies are including vegan cosmetic lines in their product lineups to appeal to a broader clientele, boosting the global industry's growth.

Market Segmentation:

The vegan cosmetics market is segmented on the product type, price range and distributional channel. Based on product type, the market is segmented into skincare, hair care, and makeup. Based on price range, the vegan cosmetics market is segmented into low, medium and high. Based on distributional channels, the vegan cosmetics market is segmented into supermarkets/hypermarkets, departmental stores, speciality stores, online and others.

Based on distributional channels, the online segment is a major contributor to the vegan cosmetics market.

The market's leading segment is the online channel. Due to the rising internet usage and popularity of digital payments throughout emerging economies, such as India, where demonetization in 2016 significantly boosted digital transactions, online retail sales of vegan skincare products would have strong development in the following years. Many social media platforms and beauty bloggers advocate makeup tricks with vegan cosmetics, and the producers of vegan beauty products are benefiting from this, in turn.

The skin care segment witnessed growth at a rapid rate.

The skin care category has earned the most market share. Due to the continuous use of skin care products by customers worldwide to maintain healthy skin conditions, the skincare market is dominating. Consumers are more than willing to spend premium rates for high-quality vegan skin care products because they are among the primary necessities for a daily skin grooming program.

The North American vegan cosmetics market holds a significant regional revenue share.

The North American vegan cosmetics market is expected to register the highest market share. There is a growing market for vegan skincare products right now. As a result, significant local industry participants are launching fresh vegan goods for the North American market. Due to increased disposable incomes and stable economies, customers in North America have a strong purchasing power, which drives the demand for vegan cosmetics. Additionally, the changing lifestyles of consumers, as well as increased awareness of the benefits of vegan goods, are factors driving up cosmetics sales in North America. In addition, Asia Pacific is projected to grow rapidly in the global vegan cosmetics market. This is addressed by the rise in westernization and consumer acceptance of vegan cosmetics. The younger generation is also essential to expanding the business in this area.

Competitive Landscape

Some major key players in the Vegan Cosmetics market 

  • Zuzu Luxe,
  • Ecco Bella,
  • Bare Blossom,
  • Emma Jean Cosmetics,
  • Modern Mineral Makeup,
  • Urban Decay,
  • Arbonne,
  • Pacifica,
  • Nature’s Gate,
  • Beauty Without Cruelty,
  • Billy Jealousy,
  • MuLondon Organic.
  • Others

Vegan Cosmetics Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 17.80 billion

Revenue Forecast In 2031

USD 32.48 billion

Growth Rate CAGR

CAGR of 8.06% from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Billion and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Product Type, Price Range, distribution Channel

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia

Competitive Landscape

Zuzu Luxe, Ecco Bella, Bare Blossom, Emma Jean Cosmetics, Modern Mineral Makeup, Urban Decay, Arbonne, Pacifica, Nature’s Gate, Beauty Without Cruelty, Billy Jealousy, MuLondon Organic..

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Vegan Cosmetics Market Snapshot

Chapter 4. Global Vegan Cosmetics Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

5.2.1. Skin Care

5.2.2. Hair Care

5.2.3. Color Cosmetics

5.2.4. Others

Chapter 6. Market Segmentation 2: by Price Range Estimates & Trend Analysis

6.1. by Price Range & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Price Range:

6.2.1. Low

6.2.2. Medium

6.2.3. High

Chapter 7. Market Segmentation 2: by Distribution Channel Estimates & Trend Analysis

7.1. by Distribution Channel & Market Share, 2019 & 2031

7.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Distribution Channel:

7.2.1. Hypermarkets & Supermarkets

7.2.2. Specialty Stores

7.2.3. E-commerce

7.2.4. Others

Chapter 8. Vegan Cosmetics Market Segmentation 3: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

8.1.2. North America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Price Range, 2024-2031

8.1.3. North America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031

8.1.4. North America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.2. Europe

8.2.1. Europe Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

8.2.2. Europe Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Price Range, 2024-2031

8.2.3. Europe Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031

8.2.4. Europe Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

8.3.2. Asia Pacific Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Price Range, 2024-2031

8.3.3. Asia Pacific Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031

8.3.4. Asia Pacific Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.4. Latin America

8.4.1. Latin America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

8.4.2. Latin America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Price Range, 2024-2031

8.4.3. Latin America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031

8.4.4. Latin America Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

8.5.2. Middle East & Africa Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Price Range, 2024-2031

8.5.3. Middle East & Africa Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2024-2031

8.5.4. Middle East & Africa Vegan Cosmetics Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Zuzu Luxe

9.2.2. Ecco Bella

9.2.3. Bare Blossom

9.2.4. Emma Jean Cosmetics

9.2.5. Modern Mineral Makeup

9.2.6. Urban Decay

9.2.7. Arbonne, Pacifica

9.2.8. Nature’s Gate

9.2.9. Beauty Without Cruelty

9.2.10. Billy Jealousy

9.2.11. MuLondon Organic

9.2.12. Other Prominent Players

Market Segmentation

By Product Type:

  • Skin Care
  • Hair Care
  • Makeup
  • Others

vegan cosmetics

By Price Range

  • Low
  • Medium
  • High

By Distribution Channel:

  • Supermarkets/Hypermarkets
  • Departmental Stores
  • Specialty Stores
  • Online
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

 

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Frequently Asked Questions

How big is the Vegan Cosmetics market?

Vegan Cosmetics Market expected to grow at a 8.06 % CAGR during the forecast period for 2024-2031

Zuzu Luxe, Ecco Bella, Bare Blossom, Emma Jean Cosmetics, Modern Mineral Makeup, Urban Decay, Arbonne, Pacifica, Nature’s Gate, Beauty, Others

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