Global Vegan Cosmetics Market Insights and Forecast to 2028

Vegan Cosmetics Market Statistics 2028

The global Vegan Cosmetics market size is projected to reach US$ 21780 million by 2028, from US$ 15960 million in 2021, at a CAGR of 4.5% during 2022-2028. Key drivers of the vegan cosmetics market include the increasing awareness of consumers regarding veganism and the shift toward cruelty-free beauty products. 

The preference for natural, plant-based cosmetics and R&D initiatives by key players will fuel the demand for the vegan cosmetics market in the coming years. Social media exposure and celebrity endorsements along with strict bans on animal testing for cosmetic products will surge the growth of the market during the review period. Moreover, cheaper costs in manufacturing will significantly surge the market in the upcoming period.

Vegan Cosmetics Market Trends

Increasing focus on ethical treatment of animals in the beauty industry

Consumers especially Millennials have transitioned into brands that do not cause any harm to animals or the planet. Animal-derived or tested products are a strict no-no due to growing environmental consciousness. The clean category has become a standard label with companies verifying their cruelty-free claims. This is going to surge the growth of the vegan cosmetics market during the forecast period. 

The growing popularity of whole body vegan beauty products

Plant-based naturally sourced skincare products are way more beneficial than chemical or animal-based ingredients. The use of aloe vera, chamomile, and tea trees leads to skin purification making it look vibrant and young. It is rich in vitamins A, B, and C leading to cell regeneration. Moreover, the antioxidant and anti-inflammatory properties help in preventing skin issues such as acne, allergies, eczema, or other skin care disorders. In addition to it, vegan products are free from harsh chemical, synthetic, and artificial additives. These factors will lead to massive adoption thereby fueling the growth of the vegan cosmetics market during the forecasted period.  

Online Media penetration

The rise of the internet and social media trends have turned people’s interest toward veganism as a way of life. Online campaigns, beauty influencers, and the celebration of trends such as veganuary are contributing to the sudden surge in popularity. Consumers have become aware of the degrading effects of climate change and the need for stopping animal cruelty. Hence companies are investing heavily in R&D for manufacturing animal-free products. There is growing competition owing to the rapid investments in the sector. This in turn will spur the growth of the vegan cosmetics market in the future.

Cost-effective

In spite of being a niche market, vegan products are gradually becoming mainstream as prices are coming down or are comparable to their chemical counterparts. A variety of products are available in-store and through eCommerce websites which provide ease of use and convenience. As lab testing is avoided costs on animal clinical trials are eliminated thereby increasing affordability. This will drive the growth of the vegan cosmetics market during the subsequent years. 

Vegan Cosmetics Market Share Analysis

Based on type, skincare is expected to dominate in the vegan cosmetics market share due to the growing preference for these products across diversified regions.

Based on application, the eCommerce segment will provide lucrative opportunities for growth in the vegan cosmetics market share due to ease of use, wider choice, and several promotional, as well as discount offers, are given to attract consumers.

Based on region, North America will provide huge scope for growth in the vegan cosmetics market share due to the presence of big players in the industry.

Segment by Type

• Makeup
• Skin Care
• Hair Care
• Others

Segment by Application

• E-Commerce
• Hypermarket/Supermarket
• Specialty Stores
• Departmental Stores
• Others

• Ecco Bella
• Billy Jealousy
• Modern Minerals Makeup
• Urban Decay
• Bare Blossom
• Mulondon Organic

BY REGION

• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Scope of the Vegan Cosmetics Market Report