Global Vegan Beauty Products Market Overview
A vegan product is a product that does not contain any animal ingredients or animal-derived ingredients. It also means that ingredients/components as well as the final product are free from animal testing since these tests are often painful and cause the suffering and death of millions of animals every year. The global vegan beauty products market accounted for US$ 15.45 billion in 2020 and is estimated to be US$ 26.32 billion by 2030 and is anticipated to register a CAGR of 5.52%.
Global Vegan Beauty Products Market Dynamics
Consumer Performance Shift towards Plant-Based Ingredients
Growing consumer preference towards cruelty-free and plant-based products stimulated by ethical-led choices, involving personal care products. This, in turn, is possible to create countless opportunities for the manufacturers of vegan beauty products over the forecast period. Consumers are shifting their preference from chemical-based beauty products, owing to safety reasons, and are drawn towards ‘natural’ and ‘safe’ products. This, in turn, is likely to drive the adoption of vegan beauty products in the coming years. Furthermore, a growing number of social media channels and beauty bloggers are promoting makeup hacks using vegan beauty products. This, in turn, is boosting manufacturers of vegan beauty products.
Availability of counterfeit products
Counterfeiting in the vegan beauty products space is a result of the lack of standardized regulations to draw a distinction between authorized products and fraudulent ones, which results in unreasonable competition for the legitimate market players. Vegan products have a shorter shelf life as compared to synthetic products, which is a key factor hampering the adoption of vegan beauty products.
Global Vegan Beauty Products Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The global vegan beauty products market is segmented based on product types, customer orientation, nature, price range, sales channel, and region
On the basis of product types, the global vegan beauty products market is segmented into skincare, haircare, bath care, cosmetics, and fragrance. Based on customer orientation, the target market is segmented into women, men, unisex, and kids. On the basis of nature, the target market is segmented into organic and conventional. Based on the price range, the target market is classified into premium and economic. Based on the sales channels, the global market is bifurcated into E-commerce, hypermarket/supermarket, departmental stores, specialty stores, and others.
Regional Insights:
The global vegan beauty products market accounted for US$ 15.45 billion in 2020 and is estimated to be US$ 26.32 billion by 2030 and is anticipated to register a CAGR of 5.52%. On region the global vegan beauty products market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the target market as more customers use vegan cosmetics that are not animal tested and favors the development of animal-tested alternatives. The cosmetics market in the region is witnessing faster growth as compared to other regions. According to the CEO of L’Oréal, in North America, the demand for cosmetics is expected to be progressively growing, specifically vegan products. Currently, increasing demand for herbal cosmetics is propelling the growth of the region.
|
Report Scope:
Segments Covered in the Report: This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, it has segmented the global vegan beauty products market report based on product types, customer orientation, nature, price range, sales channel, and region.
Global Vegan Beauty Products Market, By Region:
|
Global Vegan Beauty Products Market Key Players
The key players operating in the global vegan beauty products market include L’Oréal, Estee Lauder, P&G, Unilever, Cosmas Inc, Johnson & Johnson, Grupo Bockarie, Beiersdorf, Coty, Natura, Groupe Rocher, and Gabriel Cosmetics. Market players are focusing on R&D activities which is paving way for novel products and the use of natural harmless chemicals, thus helping to consolidate their positions in the market. For instance, in 2018, Cosmas Inc. - a South Korea-based leading cosmetics manufacturer declared that it has become the first company across Asia to attain a ‘Vegan’ label from the Expertise Vegan Europe (EVE) for its widespread manufacturing cruelty-free cosmetic products. This has led to establishing new dimensions of the company’s growth in the vegan beauty products space.
Global Vegan Beauty Products Market Company Profile
- L’Oréal
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Estee Lauder
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
P&G
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Unilever
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Cosmas Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Johnson & Johnson
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Grupo Bockarie
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Beiersdorf
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Coty
- Company Overview
- Product Portfolio
- Key Highlights
Global Vegan Beauty Products Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Vegan Beauty Products Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Customer Orientation
- Market Snippet, By Nature
- Market Snippet, By Price Range
- Market Snippet, By Sales Channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Vegan Beauty Products Market, By Product Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Skin care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Hair care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Bath care
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Cosmetics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Fragrance
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Vegan Beauty Products Market, By Customer Orientation, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Women
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Men
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Unisex
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Kids
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Vegan Beauty Products Market, By Nature, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Organic
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Conventional
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Vegan Beauty Products Market, By Price Range, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Premium
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Economic
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Vegan Beauty Products Market, By Sales Channel, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- E-commerce
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Hypermarket/Supermarket
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Departmental Stores
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Specialty Stores
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Vegan Beauty Products Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Customer Orientation, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Nature, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Price Range, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Sales Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Customer Orientation, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Nature, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Price Range, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Sales Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Customer Orientation, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Nature, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Price Range, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Sales Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Customer Orientation, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Nature, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Price Range, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Sales Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Product Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Customer Orientation, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Nature, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Price Range, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Sales Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
-
- L'Oreal
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Estee Lauder
- P&G
- Unilever
- Cosmax Inc.
- Johnson & Johnson
- Grupo Boticario
- Beiersdorf
- Coty
- Natura
- Groupe Rocher
- Gabriel Cosmetics
- L'Oreal
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Global Vegan Beauty Products market is segmented into basis of product types, customer orientation, nature, price range, sales channel, and region.
Growing consumer preference towards cruelty-free and plant-based products stimulated by ethical-led choices, involving personal care products. This, in turn, is possible to create countless opportunities for the manufacturers of vegan beauty products over the forecast period.
By region, North America is dominating the target market as more customers use vegan cosmetics that are not animal tested and favors the development of animal-tested alternatives.
The Key players operating in the global Vegan Beauty Products market include L'Oreal, Estee Lauder, P&G, Unilever, Cosmax Inc, Johnson & Johnson, Grupo Boticario, Beiersdorf, Coty, Natura, Groupe Rocher, and Gabriel Cosmetics.