Global Vegan Cosmetics Market Outlook Report 2023-2028: Increasing Consumer Awareness, Particularly from Gen Z Boosts Market Prospects – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Vegan Cosmetics Market Outlook, 2028” report has been added to ResearchAndMarkets.com’s offering.

The market is anticipated to cross USD 24 Billion market size, increasing from USD 17.39 Billion in 2022. The market is expected to grow with 6.31% CAGR by 2023-28.

Vegan cosmetics are increasingly being used by consumers, particularly Gen Z. This is because more people are becoming aware of the advantages of using vegan cosmetics because they are free of chemicals and kind to the environment.

When it comes to vegan products, ethical purchasing is not just a trend among millennials; more and more consumers are voicing worries about sustainability. Consumers frequently change their purchase decisions because of animal cruelty. In addition, people are turning down goods with unknown components.

As a result, a rising number of companies are concentrating on creating completely vegan and cruelty-free cosmetics. Naturally, the term Vegan draws attention to a particular diet. However, as people switch to veganism to avoid eating meat, factors including environmental awareness and animal cruelty are impacting their way of life. At this rate, the entertainment and fashion industries had to alter their policies to accommodate shifting consumer preferences.

This pattern has developed into a beauty industry, significantly influencing the vegan cosmetics Market landscape. The vegan cosmetics sector is growing thanks to protests against animal testing. In the West, the tendency is spreading at an unprecedented rate, and very soon it will be pervasive in many high-potential regions around the globe. Recent surveys indicate that British women are more inclined to buy cruelty-free cosmetics, yet only one-third of them rigorously adhere to the vegan lifestyle.

Recent Developments:

• In January 2022, Colorbar, one of the leading manufacturers in the market, unveiled a vegan nail lacquer with 128 different shades to expand its range of vegan products in the Indian market.
• In September 2022, Stella by Stella McCartney, a new beauty line from the fashion designer, was introduced in collaboration with LVMH. According to the company, McCartney’s ecological ethos of using just what you need is reflected in the new brand. Reset Cleanser, Alter-Care Serum, and Restore Cream are the three items in the vegan skincare range.
• In August 2022, Ashunta Sheriff launched Ashunta Sheriff Beauty, a Black-owned beauty brand with a conscience offering a Cruelty-Free, Vegan Beauty Line. A few products in the range include browzing brow gel freeze, unicorn duochrome highlighter, UV vegan liquid liners, unicorn multichrome glitter shadow palette, and beauty water fix-it spray, among others.
• In May 2022, Lotte Duty-Free, the duty-free division of South Korean retail behemoth Lotte, released a collection of vegan cosmetics through its online shopping portal LDF BUY. It claimed that the LDF BUY would sell vegan cosmetic products made by Grown Alchemist, a natural skincare brand based in Australia, and Hunter Lab, a gender-inclusive brand from Australia.
• In January 2022, Colorbar one of the market’s leading manufacturers, unveiled a vegan nail lacquer in 128 different shades to expand its vegan product line in the Indian market.

Competitive Landscape

• Competitive Dashboard
• Business Strategies Adopted by Key Players
• Key Players Market Share Insights and Analysis, 2022
• Key Players Market Positioning Matrix
• Porter’s Five Forces

Company Profile

• Urban decay
• Natura & co
• Himalaya wellness products
• Unilever PLC
• Gaberiel Cosmetics Inc.
• Pacifica Beauty
• Mulondon Organics
• Ecco Bella
• Billy Jealousy
• Coty Inc
• Gucci
• Augustinus Bader
• Aveda
• Auromatherapy Associates
• E.I.F. Beauty, Inc.
• Bare Minerals
• Caudalie
• Cowshad
• Milani Cosmetics
• Beauty without Cruelty

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Aspects covered in this report

• Global Vegan Cosmetics market with its value and forecast along with its segments
• Region & Country-wise Vegan Cosmetics market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type

• Skin care
• Hair Care
• Color Cosmetics
• Others

By Gender

• Men
• Women
• Children

By End Users

• Commercial
• Personal

By Price Range

• Economic
• Premium

By Distribution Channel

• Specialist Retail Stores
• Supermarket/Hypermarket
• Online Channels
• Other Distribution

For more information about this report visit https://www.researchandmarkets.com/r/gahfin

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