The global vegan cosmetics market size is projected to reach USD 20.8 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. Spiraling demand for vegan cosmetics among millennials is one of the key drivers of market growth.
Vegan products are strictly manufactured without any animal products and are not tested on animals. Focus on R&D activities is paving way for novel products and use of natural harmless chemicals, which is helping market players to consolidate their positions in the arena.
Rapidly changing cosmetic trends are affecting global marketplace as most of the consumers find cruelty towards animals unethical and are spreading awareness against this act.
Consumers around the world are becoming increasingly aware of the effects of their preferences and buying patterns on society and the environment. Consumers are now more aware of the choice of products and, according to the report, take note of the source materials and source.
The global vegan cosmetics market size is projected to reach USD 20.8 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 6.3% during the forecast period. Spiraling demand for vegan cosmetics among millennials is one of the primary growth stimulants of the market.
Embracing natural substitutes, such as plant-based personal care products, is working in the market’s favor. The use of products of animal origin, such as hairs, skins and others, is prohibited in few countries in developed regions, such as Europe. These bans should boost the growth of the vegan market.
The growing popularity of safer and naturally derived cosmetics is expected to augment the market. Increasing concerns regarding health & safety, consumer awareness about use of animal-tested products, and rising importance given to environmentally viable products are likely to stir up the demand for vegan cosmetics.
By analysing consumer behaviour and preferences, companies innovate and launch new products to meet customer demands. Moreover, comfort of consumers is also addressed while designing a product and its packaging layout. Key players use compostable packaging and agri-based inks for their packaging. Cosmetic manufacturers add a larger share of value to the final product with their efforts and innovations to manufacture a product.
E-commerce retail spaces have gained tremendous momentum over the last few years owing to ease of product selection and easy order placing and delivery.
Face It, a Rio de Janeiro´s brand – organic and vegan lipsticks, developed by the Italian laboratory Lablphyto
Other important conclusions of the report suggest that:
• Choices in cosmetics available to vegan have rapidly expanded in past few years with new brands launching and existing brands choosing to launch new ranges of vegan products or even go completely vegan
• The market for vegan cosmetics is highly competitive due to presence of a number of international companies with diverse product portfolios
American brand Kat Von D Beauty – makeup, accessories and vegan fragrances brand, for beginners and professionals, of tattoo artist and celebrity Kat Von Dee
• In Brazil there are already several companies producing organic and vegan cosmetic products, among the main ones are Surya Brasil, Face It, Simple Organic and the quintal cosmeticos (Casa feito brasil). In the global market, the Australian brands Pangea Organics, My Organic Skincare, Happy Skincare stand out; the Polish Trillium Organics, the Indian Indian Meadow Herbals, the New Zealand brand Trilogy; the American brands Organoderm, the British brands Beauty Without Cruelty, from 1963 and MuLondon, among others.
Organic and vegan proposals around the world:
Surya Brasil is the first organic and vegan brand in Brazil to successfully export hair color products made with henna and day-by-day hair care products and body skin care products as well. It has a concept store and a vegan spa in São Paulo.
quintal cosmetios (Casa feito brasil) – Brazilian dermocosmetics brand that combines medicine of antiquity and the technological vanguard in products for the skin, with focus on the Clay .
Pangea Organics – Seeks for the best ingredients, coupled with scientifically proven methods to extract and preserve the most essential properties of each ingredient.
My Organic Skincare – The Concept Store features the full range of organic MV Skincare. It is a celebrity brand products such as Emma Thompson.
Happy Skincare – well-humored brand – “tested only on human hamsters, is 100% natural, simple, elegant and effective. It smells divinely and ensures that it leaves the skin happy.”
Trillium Organics – safe and non-toxic personal care options for the whole family, including babies.
Indian Meadow Herbals – high quality, chemical-free, and gluten-free healthy organic herbs, medicinal ointments and massage oils. All products contain 55% or more certified organic ingredients. Two branded products specifically address the symptoms of menopause and PMS, with hormonal support based on wild yam root.
Trilogy – Organic products based on rosehip oil and more than 40 effective natural alternatives to skin care of face, body and hair, for sale in more than 20 countries.
Brazilian: Simple Organics – organic, vegan, natural and genderless – Ecocert and PETA (PETA-Approved Vegan and Cruelty-Free), with several physical outlets across the country and stores in 2018
• Skin care products dominated the market in terms of revenue, with a share of over 36.0% in 2017, owing to consumer preferences across diverse regions
The British MuLondon – skin products inspired by traditional herbalism: certified as organic by The Soil Association, free from cruelty by The Leaping Bunny and registered as vegan by The Vegan Society and certified B Corporation
• E-commerce is estimated to register a CAGR of 7.4% over the forecast period owing to ease of product selection and availability of wide range of products and promotional offers
• The U.S. vegan cosmetics market is expected to exceed USD 3.16 billion by 2025, owing to presence of various manufacturers and suppliers of vegan cosmetics.
The American Organoderm – organic and vegan products for skin care after surgery: greater concentration of assets to increase the effectiveness of products
*With information Grand View Research