Vegan Cosmetics Market to Surpass 26.16 Billion by 2030 Drives Due to Growing Awareness and Appreciation to the Skin
SkyQuest projects that the vegan cosmetics market will attain a USD 26.16 billion value by 2030, with a CAGR of 6.3% over the forecast period (2023-2030). Vegan cosmetics market have emerged in a diverse range of types and variants, catering to the specific needs of vegan consumers. The rising demand for these products can be attributed to the growing awareness and appreciation of their benefits to the skin.
Westford, USA, July 24, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, vegan cosmetics are those items used to beautify, maintain hygiene, or alter or enhance a person's appearance. These do not contain animal substances, such as collagen, beeswax, or others. Its primary types include skin care, hair care, and color cosmetics. These products are readily available to customers in the vegan cosmetics market through various distribution channels, including specialized shops, supermarkets, hypermarkets, e-commerce, and others.
*Browse in-depth TOC on the "Vegan Cosmetics Market" *
· Pages - 242
· Tables - 116
· Figures – 78
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The global vegan cosmetics market is marked by intense competition as regional and international brands vie for market share. International brands are experiencing a gradual decline in overall market dominance each year with the rise of e-commerce marketing.
*Prominent Players in Vegan Cosmetics Market*
· Loreal SA
· LUSH
· Pacifica Beauty
· Kat Von D Beauty
· Cover FX
· Inika Organic
· Tarte Cosmetics
· Arbonne International
· Too Faced Cosmetics
· Milk Makeup
· E.l.f. Cosmetics
· Hourglass Cosmetics
· Beauty Bakerie
· Aveda
· The Body Shop
· KVD Vegan Beauty
· Urban Decay
· Bare Minerals
· Jeffree Star Cosmetics
· Biossance
· The Ordinary
*Browse summary of the report and Complete Table of Contents (ToC):*
https://www.skyquestt.com/report/vegan-cosmetics-market
*Skin Care Segment is expected to Grow the Market Due to the Increasing Popularity of Vegan Skin Care Products *
The skin care segment stands out with a substantial market share, fueled by the increasing popularity of vegan skin care products among environmentally conscious consumers. Customers are drawn to these products for their gentle and nourishing properties with a heightened awareness of the benefits of using plant-based ingredients on their skin.
The markets in the North America for vegan cosmetics market are projected to exhibit significant growth at a prominent CAGR. This growth can be attributed to numerous established vegan cosmetics manufacturers and suppliers in the region, particularly in the United States.
*Hair Care Segment is Expected to Dominate the Market Due to Diverse Range of Products*
The hair care segment is projected to experience the most rapid growth, with vegan hair care products playing a significant role in the vegan cosmetics market. Vegan hair care encompasses a diverse range of products, including shampoos, hair oils, conditioners, hair masks, and more, all formulated without animal-derived ingredients. These products cater to a broad spectrum of customer needs, with various forms and formulations available to address specific hair concerns.
Regional markets in the Asia Pacific are anticipated to be the fastest-growing vegan cosmetics market, with countries such as India, Australia, and others leading the charge. A significant contributing factor to this growth is consumer awareness of animal abuse and ethical considerations.
A comprehensive analysis of the major players in the vegan cosmetics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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*Key Developments in the Vegan Cosmetics Market*
· Colorbar, a prominent player in the vegan cosmetics market, made a significant move by introducing a new line of vegan nail lacquer featuring an impressive selection of 128 different shades in 2022. This strategic expansion aimed to cater to the growing demand for cruelty-free and ethically sourced beauty products in the Indian market, where consumers are increasingly conscious of their choices and seek vegan alternatives.
· Hourglass, a well-known vegan beauty product manufacturer, recently partnered strategically with consumer goods giant 'Unilever.' The collaboration aimed to develop and market a line of carmine-free vegan lipsticks. Carmine, a red pigment often derived from crushed insects, is commonly used in traditional lipstick formulations but is not in line with the vegan ethos.
* Key Questions Answered in Vegan Cosmetics Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
*Related Reports in SkyQuest’s Library:*
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Global Cosmetic Products Market
Global Condom Market
Global Microencapsulation Market
Global Anti-Aging Ingredients Market
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