Colombia Vegan Cosmetics Market Overview, 2028

Colombia Vegan Cosmetics Market Overview, 2028

There is a growing awareness of ethical and sustainable consumerism in Colombia, and this is reflected in the demand for vegan cosmetics. As consumers become more conscious of the impact of their purchasing decisions, they are seeking out products that are cruelty-free, environmentally friendly, and socially responsible. The Colombian vegan cosmetics market is rising due to factors such as millennials’ awareness of vegan cosmetics, the engagement of smaller companies and start-ups, and growing environmental awareness. Such factors are anticipated to have a positive impact on the vegan cosmetics market in the forecast period. There is a growing trend of collaborations between vegan cosmetics brands and other sectors, such as fashion and food. This allows brands to reach new audiences and create new opportunities for growth. Many local brands in Colombia are using locally sourced ingredients and traditional knowledge to create their products. This gives them a unique identity and allows them to differentiate themselves in a crowded market.

According to the research report ""Colombia Vegan Cosmetics Market Overview, 2028,"" published by Bonafide Research, the Colombia Vegan Cosmetics market was valued at above USD 195 Million in 2022. As consumers become more conscious of the impact of their purchasing decisions, they are seeking out products that are cruelty-free, environmentally friendly, and socially responsible. Since many Colombian customers care about animal welfare, they actively look for goods that don't include substances obtained from animals or undergo animal testing. The vegan cosmetics industry is constantly innovating, and new products are being developed all the time. This is creating new opportunities for brands to differentiate themselves in the market and reach new audiences. Based on the report, the product type segments include skin care products, hair care products, colour cosmetics, and others. In country. Skin care covers the highest market share in Colombia, and in the future, hair care will grow at the highest CAGR rate. There is a growing awareness among consumers in Colombia about the harmful effects of synthetic chemicals on hair and scalp health. As a result, there is a demand for hair care products that use natural and organic ingredients. Many vegan hair care brands are introducing innovative product offerings such as natural and organic ingredients, eco-friendly packaging, and multifunctional products. These products are gaining popularity among consumers who are looking for healthier and more sustainable hair care solutions. Vegan shampoos and conditioners are in high demand as consumers are looking for products that are free from harmful chemicals and synthetic fragrances. Many vegan hair care brands offer a range of natural and organic shampoos and conditioners that are designed to nourish and protect the hair. Vegan hair treatments such as hair masks, serums, and oils are also gaining popularity among consumers in Colombia. These treatments are designed to deeply moisturise and repair damaged hair while also providing protection from environmental stressors.

The Colombian government has implemented several policies and regulations related to cosmetics, including vegan cosmetics. Resolution 1478 of 2006 is a regulation that establishes the technical requirements for cosmetics in Colombia. It requires that cosmetics be safe for human use and free from toxic substances. Vegan cosmetics must meet the same safety standards as non-vegan cosmetics. Law 1480 of 2011 establishes consumer protection regulations in Colombia. It requires that all cosmetic products be clearly labelled with information about the ingredients, expiration date, and manufacturer. Vegan cosmetics must be labelled as such and must not contain any animal-derived ingredients. Resolution 2164 of 2019 is a regulation that establishes the requirements for the registration of cosmetics in Colombia. It requires that all cosmetic products, including vegan cosmetics, be registered with the National Institute of Food and Drug Surveillance (INVIMA) before they can be sold in the Colombian market. These regulations help to ensure that vegan cosmetics are safe for human use and comply with ethical and environmental standards. Companies that want to sell vegan cosmetics in Colombia must comply with these regulations and obtain the necessary registrations and certifications before they can bring their products to market.

Based on the end users Includes the personal and commercial segments. The personal segment is leading in the Colombia market. In the future, the commercial segment will grow at the highest CAGR rate. The commercial segment includes sales to professional beauty salons, spas, and beauty clinics. As the demand for vegan and natural beauty products grows, many beauty professionals are looking for high-quality vegan cosmetics to use in their services. This has led to an increase in demand for vegan cosmetics in the commercial segment. Based on the gender segment, which includes women, men, and children, in the country, the women segment has the highest market share, and in the future, the children segment will have the highest market share. Parents in Colombia are increasingly concerned about the safety and health of their children, and this is driving demand for safe and gentle products, such as vegan cosmetics. Vegan cosmetics are free from harmful chemicals, synthetic fragrances, and other ingredients that can be harmful to children's delicate skin.

The premium price segment has the highest market share in vegan cosmetics compared to the economic price range. Numerous high-end vegan cosmetics companies make significant investments in research and development to produce cutting-edge, efficient products that outperform the competition. This calls for a lot of testing and development, which might be costly. Customers are prepared to pay more for goods that have been shown to be efficient and provide noticeable outcomes. Distribution channels include specialty stores, hypermarkets, supermarkets, the online channel, and others. In Colombia, specialty stores lead the market. In the future, the online channel will grow at the highest CAGR rate. There are some top online channels that offer a wide range of vegan products, like Amazon Colombia, Mercado Libre, Esika, Lush, and Organisk.

Considered in this report

• Geography: Colombia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Colombia Vegan Cosmetics market with its value and forecast along with its segments
• Country-wise Hair Care market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type

• Skin care
• Hair Care
• Color Cosmetics
• Others

By Gender

• Men
• Women
• Children

By End Users

• Commercial
• Personal

By Price Range

• Economic
• Premium

By Distribution Channel

• Specialist Retail Stores
• Supermarket/Hypermarket
• Online Channels
• Other Distribution

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Hair Care industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.