15-Jul-2021 | Zion Market Research
Major companies in the Vegan Cosmetics Market are Ecco Bella, Zuzu Luxe, Bare Blossom, Modern Minerals Makeup, Emma Jean Cosmetics, amongst others. These players are set to bolster the development of global Vegan Cosmetics Market.
According to analysts at Zion Market Research, the global Vegan Cosmetics Market accounted for more than USD 12.1 Billion in 2020 and is expected to reach more than USD 18.79 Billion by 2028, growing at a CAGR of 6.1% from 2021 to 2028.
This review is based on a report by Zion Market Research, “Vegan Cosmetics Market By Product (Makeup, Skin Care, Hair Care, and Others), By Sales Channel (Online, Hypermarket, Supermarket, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Healthier Alternatives and Increased Demand To Spur Growth
“Adoption of healthier alternatives such as plant-based personal care goods coupled with increased demand for vegan-certified products from mainstream customers around the world will garner the growth for vegan cosmetics market in the years ahead,” says the author of this study. The market for animal free products is being fuelled by a shift in consumer perceptions of animal-free products, as well as the popularity of environmentally sustainable products. Natural-derived commodity manufacturing helps to reduce emissions and dependency on petroleum-based materials.
In addition to these factors, the growing trend of veganism particularly among the younger generation, and is playing an important role in the market's growth. Veganism is no longer considered uncommon, as more millennial embrace the diet.
The Global Vegan Cosmetics Market is exhibiting a business landscape that is highly competitive in nature, due to the presence of a large number of market players, finds a new research report by Zion Market Research (ZMR). Ecco Bella, Zuzu Luxe, Bare Blossom, Modern Minerals Makeup and Emma Jean Cosmetics are some of the key manufacturers of vegan cosmetics across the world. These players across vegan cosmetics market are mainly focusing on launching new outlets in different parts of the world. These outlets are critical for evaluating consumer buying habits, making it possible for marketers to develop new goods. As the market’s research and development activities grow, important firms are being pushed to extend their product portfolios to meet increasing demand. Online stores are a growing sales outlet and can be a quick way for consumers to purchase these products.
Growth of Vegan Lifestyle Support European Growth
Regionally, Europe has been one of leading the worldwide vegan cosmetics market and is anticipated to continue to grow in the years to come, states the vegan cosmetics market study. In last few years, developed countries in Europe have seen an increase in vegan population. According to studies conducted by the Vegan Society in collaboration with Vegan Life magazine, the number of people identified as vegans in the UK has grown by about 350 percent in the last decade. This factor is expected to fuel sales of vegan cosmetics in the future.
Browse the full “Vegan Cosmetics Market By Product (Makeup, Skin Care, Hair Care, and Others), By Sales Channel (Online, Hypermarket, Supermarket, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/vegan-cosmetics-market
The global vegan cosmetics market is segmented as follows:
By Sales Channel
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