Discover trends, market shifts, and competitive outlooks for the vegan cosmetics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

#What is the Anticipated CAGR of the Vegan Cosmetics Market, and What Factors Will Drive It?

The size of the vegan cosmetics market has seen substantial expansion in the past few years. The market, which is predicted to catapult from $18.25 billion in 2024 to $19.59 billion in 2025, will have a compound annual growth rate (CAGR) of 7.3%. The historical growth can be ascribed to factors such as increased consciousness regarding animal abuse in cosmetics, a surge in the demand for organic and natural beauty solutions, escalating health and environmental worries, celebrity publicity and sway, and the broader acceptance of veganism as a lifestyle preference.

The size of the vegan cosmetics market is predicted to experience a solid surge in the coming years, expanding to a value of $27.77 billion in 2029 and growing at a Compound Annual Growth Rate (CAGR) of 9.1%. The notable expansion anticipated in this projection period can be credited to the increasing inclination of consumers towards sustainable and ethical products, amplified official reinforcement for cruelty-free and vegan beauty goods, a heightened drive towards clear product labelling, and the inclusion of a wider consumer demographic in the vegan sector. This mounting demand for plant-based ingredients plays a significant part as well. Key trends to look out for in this forecast period comprise progressions in vegan cosmetic formulations and technology, the rise of certifications for vegan and cruelty-free products, eco-friendly packaging innovation, personalized vegan beauty solutions through technological integration and strategic partnerships between beauty brands and influencers.

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Which Factors and External Forces Are Driving Demand in the Vegan Cosmetics Market?

The rise in popularity of vegan lifestyles is believed to propel the vegan cosmetics market’s expansion. Veganism encompasses avoiding products derived from animals. The production of cosmetics often involves significant animal cruelty and abuse. Thus, to evade participation in such cruelty, more people are choosing veganism and focusing on plant-based products. For example, as per a report by Veganuary, a non-profit organization based in the UK, in April 2023, the number of global Veganuary registrations reached 706,965 in 2023 – a rise from 629,000 in 2022. Hence, the growing prominence of veganism is catalyzing the vegan cosmetics market’s growth.

Which Segments in the Vegan Cosmetics Offer the Most Growth?

The vegan cosmetics market covered in this report is segmented –

1) By Product: Skin Care, Hair Care, Color Cosmetics, Other Products

2) By Nature: Organic, Conventional

3) By Customer Orientation: Women, Men, Unisex, Kids

4) By Distribution Channel: Hyper markets and Super markets, Specialty Stores, E-commerce, Other Distribution Channels

Subsegments:

1) By Skin Care: Moisturizers, Cleansers, Serums, Sunscreens, Face Masks

2) By Hair Care: Shampoos, Conditioners, Hair Treatments, Styling Products

3) By Color Cosmetics: Foundations, Lipsticks And Lip Care, Eye Makeup, Blush And Bronzer

4) By Other Products: Body Care Products, Nail Care Products, Fragrances

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What Are the Fastest-Growing Geographies in the #Which Factors and External Forces Are Driving Demand in the Vegan Cosmetics Market?# Market?

Europe was the largest region in the vegan cosmetics market in 2024.The regions covered in the vegan cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Which Cutting-Edge Market Trends Are Expected to Drive theVegan Cosmetics Market’s Growth?

Increased product innovation is a growing trend in the vegan cosmetics market. Major players in the vegan cosmetic industry are focusing on the creation of unique and innovative vegan products to fortify their dominance in the market. In a recent development, LG Household & Health Care, a consumer goods firm based in South Korea, unveiled Freshian in June 2022. Freshian is a new vegan-certified color cosmetics line aimed at enticing millennial and Generation Z beauty enthusiasts. The new brand brings to the market two types of cushion compacts, several lip balms, and a sunscreen. Its products feature ingredients such as five different variations of hyaluronic acid and madecassoside, selected for their skin-soothing properties. Moreover, cushion puffs contain cornstarch while packaging utilizes raw materials derived from sugarcane to reduce the brand’s environmental footprint.

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What Are the Key Elements That Define the Vegan Cosmetics Market?

Vegan cosmetics are beauty products that are manufactured without the use of animal-derived raw materials. Vegan cosmetics are used for the enhancement of beauty without causing the skin damage that is caused by the use of artificial ingredients.

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