Vegan Cosmetics Market Size, Share & Trend Analysis Report by Product (Skin Care, Hair Care, Color Cosmetics), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, E-Commerce), By Region, And Segment Forecasts, 2022 - 2030
Vegan Cosmetics Market Growth & Trends
The global vegan cosmetics market is expected to reach USD 26.16 billion by 2030, expanding at a CAGR of 6.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. Natural and organic vegan cosmetics are gaining traction among a growing number of vegan consumers, driven by the rising consumer awareness regarding the animal cruelty for developing various products. Moreover, the rising trend of veganism after the pandemic has driven the demand for vegan products including vegan cosmetics contributing to the overall growth of the market.
Vegan cosmetics are available in a wide variety of types, variants, and others to suit the requirements of vegan consumers. The demand for vegan cosmetics with plant-based ingredients is increasing owing to their various benefits to the skin such as protecting skin because the exclusion of harmful chemicals from it, further propelling their demand in the market.
The skin care vegan cosmetics segment contributed a majority of the share to become the largest division in the global revenue in 2021. Rising consciousness among the consumers to nourish their skin, treat acne, wrinkles, dryness, and others along with the rising veganism among the consumers has driven the demand for vegan skin care products in the market. This in turn has driven the overall growth of the vegan cosmetics market in terms of value sales.
The e-commerce segment is expected to register the fastest CAGR from 2022 to 2030. The sale of vegan cosmetics through the e-commerce segment is expected to witness substantial growth in the coming years owing to various benefits provided by this retail platform which includes home delivery, discounts, easy payment options, and others.
Vegan Cosmetics Market Report Highlights
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