The vegan cosmetics market is estimated to be valued at USD 67.27 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The increasing demand for natural and sustainable products has opened up opportunities for plant-based and vegan cosmetics. Vegan cosmetics refer to personal care products that do not contain any animal-derived ingredients or by-products. Traditionally, many personal care products have relied on ingredients from animals such as beeswax, collagen, lanolin, and carmine. However, consumers are now more conscious about avoiding cruelty to animals and preferring natural and eco-friendly alternatives. This has driven cosmetic brands to offer a wider range of vegan makeup, skincare, haircare, and other body care products.

 Market Dynamics:

The global vegan cosmetics market is driven by factors such as rising ethical concerns about animal testing, increasing health awareness about ingredients used in cosmetics, growing preference for natural and organic personal care products, and stringent regulations regarding the use of ingredients derived from animals. However, the market faces restraints from the higher costs associated with vegan alternatives and the difficulty of finding effective substitutes for some key ingredients traditionally derived from animals. The market also sees opportunities from innovative product development by brands, expanding distribution channels like online retailing, and a growing base of health-conscious millennial and Generation Z consumers who actively support cruelty-free brands.

 Key Features of the Study:

• This report provides an in-depth analysis of the global vegan cosmetics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global vegan cosmetics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Amway Corporation, Estee Lauder Companies Inc., Groupe Rocher, L’Occitane Group, L’Oreal S.A., LVMH Group, MuLondon, Pacifica Beauty, Unilever plc., Weleda, Coty Inc., Beauty with Cruelty, Elf Cosmetic Company, Urban Decay, Nature’s Gate, Billy, TJS India, Seraphine Botanicals, Hera Beauty Ltd., and Herrco Cosmetics
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global vegan cosmetics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vegan cosmetics market.

Detailed Segmentation-

• By Product Type:
  • Skin Product
  • Hair Product
  • Lip Product
  • Eye Product
  • Others
• By Gender:
  • Kids
  • Male
  • Female
• By Price Point:
  • Premium
  • Economic
• By Distribution Channel:
  • Online
  • Offline
    • Supermarket
    • Hypermarket
    • Specialty Stores
    • Others
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
  • Amway Corporation
  • Estee Lauder Companies Inc.
  • Groupe Rocher
  • L’Occitane Group
  • L’Oreal S.A.
  • LVMH Group
  • MuLondon
  • Pacifica Beauty
  • Unilever plc.
  • Weleda
  • Coty Inc.
  • Beauty with Cruelty
  • Elf Cosmetic Company
  • Urban Decay
  • Nature’s Gate
  • Billy 
  • TJS India
  • Seraphine Botanicals
  • Hera Beauty Ltd.
  • Herrco Cosmetics