The global vegan cosmetics market is expected to rise at an impressive CAGR , says Future Market Insights (FMI) in its recent study. The spiralling demand for cruelty free and vegan cosmetics, and the rapidly changing consumer preference, triggered by soaring environmental concerns will enable growth in the vegan cosmetics market.
The vegan cosmetics market is forecast to expand considerably in the coming years. Protests against animal testing are paving way for the expansion of the vegan cosmetics market. The trend is proliferating at an unprecedented pace in the West and as per FMI very soon it will be widespread across various high potential markets in the world.
According to recent surveys, British women are exhibiting higher inclination towards the purchase of cruelty free cosmetics, with a third of them not strictly following a vegan lifestyle. FMI believes that social trends such as the “clean beauty” has caused a spark in the vegan cosmetics market.
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Online channels has therefore evolved into a crucial window of sales for the market. Future Market Insights offers exclusive information on the global vegan cosmetics market. Some of these are:
- Sales via ecommerce platform is expected to rise at a higher pace than physical stores
- The U.S. market for vegan cosmetics is forecast to surpass US$ 3 Bn by the end of 2025
- The presence of several established and regional brands has rendered global vegan cosmetics market highly competitive.
Who is winning?
The global vegan cosmetics market is a fragmented one, exhibiting the presence of several leading companies. Some of the market players profiled in the report are Ecco Zuzu Luxe, Bella, Bare Blossom, Urban Decay, Modern Mineral Makeup, Emma Jean Cosmetics, Arbonne, Pacifica, Beauty without Cruelty, Nature’s Gate, Billy Jealousy, and MuLondon Organic.
These companies are expected to focus on product launches and research and development to gain competitive advantage in the market.
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Vegan Cosmetics Market Key Segment
- Facial Products
- Eye Products
- Lip Products
- Nail Products
- Pumps & Dispensers
- Compact Cases
- Pencils and Sticks
- Wholesalers/ Distributors
- Modern Trade
- Convenience Stores
- Departmental Stores
- Specialty Stores
- Online Retailers
- North America
- Middle East and Africa
- East Asia
- South Asia
- Latin America
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