Valued at USD48 Billion in 2022, the Global Vegan Cosmetics Market is set to roll a CAGR of around 7% in the forecast years 2024-30, mentions MarkNtel Advisors in their research report. Vegan cosmetics refers to beauty products that are free from animal products or their by-products, such as milk, gelatine, wax, collagen, etc. The rising awareness regarding the sustainability & conservation of the environment has led to a tremendous rise in the trends of vegan & clean beauty products, which are plant-based and offer numerous advantages.

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Moreover, plant-based beauty products have witnessed huge demand in the past few years due to consumers’ inclination toward products & cosmetics made without animal products and chemicals, given their harmful impact on health & the environment. Furthermore, the increasing cases of skin complications, including rashes, redness, itching, and cancer, have compelled individuals to switch to vegan beauty products, thus causing a boost in the Global Vegan Cosmetics Market. Countries like Europe, Asia-Pacific, and North America have aided significantly in the Global Vegan Cosmetics Market by completely banning cosmetic products containing animal derivatives.

Global Vegan Cosmetics Market Driver

Increasing Government Initiatives for Promoting Chemical-Free Cosmetics: The regulatory frameworks for the cosmetics industry have been put in place owing to the rising cruelty towards animals, mounting concerns over skin allergies, and the possibility that some chemical contents within their products could cause long-term health risks. Governments across North America, Europe, & Asia-Pacific have introduced various policies to stop the use of animal-derived ingredients during the production of cosmetics & personal care products.

Inspecting the Segmentation of the Global Vegan Cosmetics Market

• By Product (Skin Care, Hair Care, Makeup, and Others (Lip Care, Nail Care, etc.))
• By Sales Channel (E-commerce, Offline Stores (Hypermarket/Supermarket, Departmental Stores, Specialty Stores, and Others (Convenience Stores, Discount Stores, etc.))
• By Packaging (Pumps & Dispensers, Compact Cases, Jars, Pencils & Sticks, and Tubers), and Others (Blisters & Strip Packs, Aerosol Cans, etc.)
• By End User (Women, Men, and Kids)
• By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

The Vegan Cosmetics Market is to be fueled by rising E-commerce platforms globally given the tremendous upsurge in the population using the Internet and online platforms for shopping which has led to an array of sales of vegan cosmetic products. The demand for vegan cosmetic products is expected to upscale even higher in the upcoming years since individuals are inclining toward sustainability & eco-friendly products and with access to online websites offering constant discounts, offers, lucrative deals, and ease of accessibility, the market is expected to see a positive rise.

North America to witness a surging demand for vegan & chemical-free cosmetics in the upcoming years 2024-28. The rising awareness of consumers in the region concerning the hazardous side effects of substances such as aluminum & paraben and their inclination toward natural beauty products and cosmetics has fueled the Vegan Cosmetics Market in North America significantly. Consumers across the region are increasingly switching to plant-based beauty products given the rising skin diseases caused by chemical-based beauty products, thus influencing the North America Vegan Cosmetics Market positively.

Top Companies Dominating the Global Vegan Cosmetics Market

Major companies such as MuLondon, Beauty Without Cruelty, Nature’s Gat, Billy Gealousy, L’Oréal Groupe, Mo MI Beauty, Emma Jean Cosmetic Inc., Inika, Gabriel Cosmetic Inc., Groupe Rocher, Pacifica Beauty, E.l.f. Cosmetic Inc., Coty Inc., Kose Corp., Natura International Inc., MAV Beatury Brands Inc., The Estee Lauder Co. Inc., Lush Retail Ltd., Debenhams Plc., Charlotte Tilbury Beauty Ltd, and others, have a strong hold on the given market and are further looking to expand & strengthen their position in the industry.

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