DUBLIN–( BUSINESS WIRE )–The “Global Vegan Cosmetics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Distribution Channel, Gender, and Region” report has been added. of ResearchAndMarkets.com offer
The global vegan cosmetics market was valued at ~US$10 billion in 2017. Additionally, due to growing government intervention banning cosmetic animal testing as well as increasing adoption of veganism, it is estimated to be USD 13 billion in 2022 and is expected to grow at a CAGR of ~6% between 2022 and 2028. Reaching a market size of ~US$20 billion.
The significant benefit of using vegan cosmetics is that they are extremely beneficial for the skin as they are rich in vitamins with antioxidant and anti-inflammatory properties. The increasing popularity of plant-based products, coupled with the emerging vegetarian trend across the country, is driving the demand for vegan cosmetics.
A significant contributor to the growth of veganism is the increasing government enforcement of bans on animal testing for cosmetics across the country. Increasing promotion of fake cosmetic products across the country may hinder the growth of the vegan cosmetics market.
The ongoing COVID-19 pandemic has increased the demand for vegan cosmetics as consumers actively seek to improve their consumption patterns outside of food, especially those who have been infected with the virus.
The competitive landscape
The global vegan cosmetics market is highly competitive with ~500 players including globally diversified players, regional players as well as a number of country-specific players adopting advanced technologies such as fermentation technology to enhance product texture.
Moreover, companies are competing on various parameters like partnerships, new product offerings, business models, marketing strategies, pricing, campaigns and more. About ~65% of the total competitors are domestic-niche players, while regional players constitute ~30% of the competition.
Some of the major players in the market include Arbonne International LLC, Coty Inc., Gabriel Cosmetics, L’Oreal SA, Lush Retail Ltd., Shiseido Company, Limited, Plum, Disguise Cosmetics, Estee Lauder Company Inc., Pacifica Beauty LLC, Amway Corp. , L’Occitane en Provence, and others.
Conclusion
The global vegan cosmetics market is predicted to continue exponential growth at ~6% witnessed since 2017. The main driving factor contributing to the growing popularity of plant-based products combined with the emerging vegetarian trend.
Although the market is highly competitive with around ~500 participants, country-niche players comprise the dominant segment of competitors and regional players also have a significant segment.
Key topics covered in the report
- Snapshot of the Global Vegan Cosmetics Market
- Industry Value Chain and Ecosystem Analysis
- Market size and segmentation of the global vegan cosmetics market
- Historical growth of the overall global vegan cosmetics market and segment
- Market competitive situation and key developments of competitors
- Porter’s 5 Forces Analysis of the Global Vegan Cosmetics Industry
- Overview, product offerings, and strengths and weaknesses of major competitors
- Covid-19 impact on the overall global vegan cosmetics market
- Future market forecast and growth rate of total global vegan cosmetics market by segment
- Market size by product type, distribution channel and gender segment with historical CAGR and future forecast
- Global Vegan Cosmetics Market Analysis
- Major production/supply and consumption/demand centers within each region
- Major country-wise historical and future market total market and segment growth rate
- Overview of significant emerging competitor companies within each region
Prominent key players mentioned in the report
- Arbonne International LLC
- Coty Inc
- Gabriel Cosmetics
- L’Oreal SA
- Lush Retail Ltd
- Shiseido Company, Ltd
- plum
- Camouflage cosmetics
- Estee Lauder Company Inc
- Pacific Beauty LLC
- Amway Corp
- At L’Occitane in Provence
- Five Dot Botanics Limited
- Biosense
- Arata
- Bio transparency
- great beauty
- IBA Cosmetics
- FAE beauty
- daughter earth
Scope of report
The period covered by the report
- Historical period: 2017-2021
- Forecast period: 2022E-2028F
By product type
- skin care
- hair care
- makeup
- other
By distribution channel
- Supermarkets/Hypermarkets
- specialty store
- Online channel
- other
By gender
by region
- North America (United States, Canada and Mexico)
- Europe (France, Italy, Germany, Spain, UK and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
For more information on this report visit https://www.researchandmarkets.com/r/e0vawi
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market information. We provide you with the latest information on international and regional markets, key industries, top companies, new products and latest trends.
Introduction
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
Call 1-917-300-0470 for EST office hours
Call US/CAN toll free at 1-800-526-8630
Call +353-1-416-8900 for GMT office hours