Vegan Beauty Products Market By Product Type (Skin Care, Hair Care, Makeup, Others), By Distribution Channel (E-Commerce, Hypermarkets And Supermarkets, Departmental Stores, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The global vegan beauty product market garnered a market share of US$ 1018.9 Mn in 2018 and is projected to witness significant growth, growing with a CAGR of 5.5% across the forecast period from 2019 to 2027. Rising awareness about cruelty-free beauty is increasing the global demand for vegan beauty products. As a result, many companies are moving towards the production of vegan products. Vegan beauty products are composed of natural ingredients, mainly plant-based ingredients. Vegan beauty products are free from animal content, also are not tested on animals. For Instance, in October 2018, L'Oreal launched its organic beauty product brand. In addition, La Provençale Bio has launched in French supermarkets. La Provençale Bio consists of 12 products: youth oil serum, youth cream, moisturizing cream, two aluminum-free deodorants, bar soaps, and more. Moreover, increasing e-commerce trends is one of the key factors increasing the demand for vegan beauty products across the globe. 

Increasing awareness of cruelty-free products and the impact of animal-based products on the environment is one of the key factors propelling the demand for vegan beauty products. Moreover, major manufacturers are focusing on producing plant-based products that protect the skin and are harmless to the environment. For Instance, in October 2019, Lush cosmetics launched a range of cosmetics. The Christmas range includes 70 vegan products. Some of the vegan products that comprise the Christmas range are a Santa-shaped bubble bar, shower gel, face mask, and more.

Market Snapshot

Skincare is the largest segment and continues its dominance during the forecast period.

The rising awareness about animal-derived beauty products' negative impacts is increasing the demand for vegan beauty products. Vegan skincare products reduce many skin problems, such as dark circles and acne, and improve skin health. Skin problems are becoming more intense, mainly because of UV rays. Therefore, consumers are demanding more efficient plant extract products in their skincare routine. For Instance, in 2018, the UK experienced 25% growth in the sales of vegan skincare products. The UK launched a number of vegan products, more than the launches done in any other nation. The aforementioned factor is one of the key factors driving the market growth. Vegan skincare is famous among females and gaining popularity among the male population. For Instance, in August 2019, Act of being launched its first vegan and cruelty-free skincare brand for men. All the products of Act of Being are designed and tested in the US using natural and non-toxic ingredients.

North America held the largest market share for vegan beauty products in 2018

The beauty industry is driven by many innovations, such as veganism and zero-waste systems. North America dominated the vegan beauty products market in 2018 and is most likely to dominate it in the near future. New product launches lead the growth in North America. For Instance, in July 2017, an exhibition was organized by Cosmoprof. The "discover green" exhibition was organized to develop new vegan beauty products. In addition, the trend of veganism and awareness about animal-free products is driving the market. Europe is the fastest-growing segment in the forecast period. The growth is supported by factors such as the presence of major players in the European market. In addition, major manufacturers are expanding their reach in the European market. For Instance, in February 2019, Henkel announced the relaunch of a European shampoo brand. Schauma is reintroduced with vegan formula. Again Henkel plans to launch a vegan brand for a premium hair salon. Henkel aims to increase its vegan product range through the Authentic beauty concept.

Competitive Insights

The major vegan beauty products market players include Gabriel Cosmetics, Inc., The Cult Beauty, Ecco Verde, The Body Shop, Pacifica Beauty LLC, Bare Blossom, P'URE Papayacare, MULONDON, LUSH, COSMAX Co. Ltd., Plum, and Urban Decay among others. The top players are focusing on key strategies such as the development of new products, acquisition, and many more. For Instance, in May 2018, Zuzu luxe, a brand by Gabriel Cosmetics, Inc., launched Zuzu luxe's coastal collection. The coastal collection contains a lip plus cheek blush cream and two vegan eye shadow palettes, beach Boho and Sunsation eye shadow palettes. In addition, the coastal collection gives an instant sun blush look, all with vegan products. In addition, in November 2018, L'Oreal acquired Logocos Naturkosmetik AG, a German beauty company. Through this acquisition, L'Oreal plans to increase the sales of Logocos Naturkosmetik products across the globe.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The vegan beauty products market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global vegan beauty products market based on product type, distribution channel, and geography. 

Frequently Asked Questions:

The market for Vegan Beauty Products is expected to reach US$ XX Bn 2027.

The Vegan Beauty Products market is expected to see significant CAGR growth over the coming years, at 5.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Gabriel Cosmetics, Inc., The Cult Beauty, Ecco Verde, The Body Shop, Pacifica Beauty LLC, Bare Blossom, P’URE Papayacare are some of the major players in the global market.

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Published Date:  Nov 2019
Category:  Consumer Goods
Report ID:   60025
Report Format:   PDF
Pages:   120
Rating:    4.4 (66)
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