According to the latest report by IMARC Group, titled “Vegan Cosmetics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028,”The global vegan cosmetics market is expected to exhibit a growth rate (CAGR) of 6% during 2023-2028.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Vegan Cosmetics Industry Definition and Application:
Vegan cosmetics are made from plant- and mineral-based ingredients like aloe vera, essential oils, seaweed, and chamomile. Asthey do not contain animal-based derivates and aid in reducing acne, improving skin health, and providing skin nourishment,vegan cosmetics are gaining traction across the globe.
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Vegan Cosmetics Market Trends and Drivers:
The increasing adoption of veganism represents one of the primary factors positively influencing the sales of vegan cosmetics around the world. Apart from this, there is a growing prevalence of skin-related disorders on account of several factors like environmental conditions. This, in confluence with the considerably rising awareness among individuals about cruelty-free beauty products, isstrengthening the market growth. Furthermore, leading cosmetics manufacturers are focusing on lowering dependence on petroleum-based products by manufacturing vegan product variants. Moreover, thesignificantly growing influence of social media and the rising number of celebrity endorsements for promoting the utilization of vegan cosmeticsare strengthening the market growth. Besides this, the market is also driven by increasing e-commerce platforms offering discounts, secured payment getaways, and doorstep delivery worldwide.
Vegan Cosmetics Market Segmentation:
The report has segmented the market on the basis on region, product type and distribution channel.
Breakup by Product Type:
- Skin Care
- Hair Care
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,Others)
- Middle East and Africa
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Competitive Landscape with Key Player:
- Arbonne International LLC (Yves Rocher)
- Billy Jealousy LLC
- Coty Inc. (Cottage Holdco B.V.)
- Debenhams Retail Ltd. (Celine Jersey Topco Limited)
- Gabriel Cosmetics Inc.
- Kosé Corporation, L’Oréal S.A.
- Lush Retail Ltd.
- MuLondon Ltd.
- Shiseido Company Limited.
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