Global Vegan Cosmetics Market Report to 2031 - Featuring Amway, Estee Lauder, LVMH and MuLondon Among Others

DUBLIN, Oct. 27, 2022 /PRNewswire/ -- The "Vegan Cosmetics Market By Product Type, By Price Point, By Gender, By End User, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to  ResearchAndMarkets.com's offering.

According to this report the vegan cosmetics market size was valued at $16.6 billion in 2021, and is estimated to reach $28.5 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031. 

Vegan cosmetics are composed of chemical compounds produced from natural or synthetic sources that do not contain any animal-derived ingredients. Animal-derived substances include, honey, beeswax, lanolin, collagen, albumen, carmine, cholesterol, gelatin, and many others. Vegan cosmetics are also devoid of animal testing and cruelty.

Vegan cosmetics are used to cleanse or protect the body or hair and are meant for personal care, skincare, face care, and hair care. Vegan cosmetics are used to improve or modify one's appearance (makeup) by hiding imperfections, accentuating natural features (such as brows and eyelashes), adding radiance to a person's face, or completely redefining the look.

In recent years, the cruelty-free (no animal testing), vegetarian (no byproducts of animal slaughter), and vegan (no animal components at all) cosmetics markets have expanded. Vegan cosmetics are chosen by customers because they are ethical in nature since vegan cosmetics are produced without the use of any animal components. Considering the medical benefits of vegan cosmetics on the skin, consumers gradually choose vegan cosmetics over non-vegan cosmetics.

Furthermore, vegan cosmetics are believed to assist in decreasing skin damage caused by many environmental changes and growing pollution globally. For example, the anti-oxidants included in vegan cosmetics are naturally processed from plants and can aid to alleviate skin dryness. As a result of the benefits that consumers obtain from using these products, the demand for plant-based components increases, which also fuels the expansion of the vegan cosmetics market.

The cosmetics sector is fragmented because it is very competitive and saturated. Trade restrictions, strong competition, and an increase in demand for low-cost products are stifling the expansion of the vegan cosmetics market and leading the market's product quality to deteriorate. Small-scale business owners join the market, and because of the significant fluctuation in raw material costs, they employ low-quality raw materials to earn a good profit margin for themselves.

On the other hand, items of a well-known brand are exorbitantly priced, and buyers are eager to find low-cost alternatives. The market is flooded with counterfeit items available at low prices as a result of the high demand for products from well-known brands. In recent years, counterfeit items have thoroughly permeated the market, harming the profitability of well-known businesses. The decline in product quality and the widespread availability of counterfeit items impede the growth of the global vegan cosmetics market.

The usage of emulsifiers also plays a major role in the manufacturing of cosmetics. Hence, vegan cosmetic manufacturers are aware of using vegan-based emulsifiers in their vegan cosmetics products. Vegan emulsifiers are costly as it takes more time to get extracted from the vegan sources and vegan emulsifiers take a longer period for emulsion which slows down the production process. The slow emulsion speed and high price force the vegan cosmetics manufacturers to increase the initial price of the cosmetics. On the other hand, clear labeling of vegan products provides a clear message to the consumers about the usage of ingredients which encourages them to go for vegan cosmetic products.

The players operating in the global vegan cosmetics market have adopted various developmental strategies to expand their vegan cosmetics market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Amway Corporation, Estee Lauder Companies Inc., Groupe Rocher, L'Occitane Group, L'Oreal S.A., LVMH Group, MuLondon, Pacifica Beauty, Unilever, and Weleda.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vegan cosmetic market analysis from 2021 to 2031 to identify the prevailing vegan cosmetic market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the vegan cosmetics industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global vegan cosmetics market trends, key players, market segments, application areas, and market growth strategies.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope

3.2. Key findings

3.2.1. Top investment pockets

3.3. Porter's five forces analysis

3.4. Top player positioning

3.5. Market dynamics

3.5.1. Drivers

3.5.2. Restraints

3.5.3. Opportunities

3.6. COVID-19 Impact Analysis on the market

3.7. Pricing Analysis

3.8. Value Chain Analysis

3.9. Market Share Analysis

CHAPTER 4: VEGAN COSMETICS MARKET, BY PRODUCT TYPE

4.1 Overview

4.1.1 Market size and forecast

4.2 Skincare

4.2.1 Key market trends, growth factors and opportunities

4.2.2 Market size and forecast, by region

4.2.3 Market analysis by country

4.3 Cosmetics

4.3.1 Key market trends, growth factors and opportunities

4.3.2 Market size and forecast, by region

4.3.3 Market analysis by country

4.4 Haircare

4.4.1 Key market trends, growth factors and opportunities

4.4.2 Market size and forecast, by region

4.4.3 Market analysis by country

4.5 Others

4.5.1 Key market trends, growth factors and opportunities

4.5.2 Market size and forecast, by region

4.5.3 Market analysis by country

CHAPTER 5: VEGAN COSMETICS MARKET, BY PRICE POINT

5.1 Overview

5.1.1 Market size and forecast

5.2 Premium

5.2.1 Key market trends, growth factors and opportunities

5.2.2 Market size and forecast, by region

5.2.3 Market analysis by country

5.3 Economic

5.3.1 Key market trends, growth factors and opportunities

5.3.2 Market size and forecast, by region

5.3.3 Market analysis by country

CHAPTER 6: VEGAN COSMETICS MARKET, BY GENDER

6.1 Overview

6.1.1 Market size and forecast

6.2 Women

6.2.1 Key market trends, growth factors and opportunities

6.2.2 Market size and forecast, by region

6.2.3 Market analysis by country

6.3 Men

6.3.1 Key market trends, growth factors and opportunities

6.3.2 Market size and forecast, by region

6.3.3 Market analysis by country

6.4 Children

6.4.1 Key market trends, growth factors and opportunities

6.4.2 Market size and forecast, by region

6.4.3 Market analysis by country

CHAPTER 7: VEGAN COSMETICS MARKET, BY END USER

7.1 Overview

7.1.1 Market size and forecast

7.2 Personal

7.2.1 Key market trends, growth factors and opportunities

7.2.2 Market size and forecast, by region

7.2.3 Market analysis by country

7.3 Commercial

7.3.1 Key market trends, growth factors and opportunities

7.3.2 Market size and forecast, by region

7.3.3 Market analysis by country

CHAPTER 8: VEGAN COSMETICS MARKET, BY DISTRIBUTION CHANNEL

8.1 Overview

8.1.1 Market size and forecast

8.2 Hypermarkets/supermarkets

8.2.1 Key market trends, growth factors and opportunities

8.2.2 Market size and forecast, by region

8.2.3 Market analysis by country

8.3 Specialty Stores

8.3.1 Key market trends, growth factors and opportunities

8.3.2 Market size and forecast, by region

8.3.3 Market analysis by country

8.4 Online Channels

8.4.1 Key market trends, growth factors and opportunities

8.4.2 Market size and forecast, by region

8.4.3 Market analysis by country

8.5 Others

8.5.1 Key market trends, growth factors and opportunities

8.5.2 Market size and forecast, by region

8.5.3 Market analysis by country

CHAPTER 9: VEGAN COSMETICS MARKET, BY REGION

CHAPTER 10: COMPANY LANDSCAPE

10.1. Introduction

10.2. Top winning strategies

10.3. Product Mapping of Top 10 Player

10.4. Competitive Dashboard

10.5. Competitive Heatmap

10.6. Key developments

CHAPTER 11: COMPANY PROFILES

11.1 Amway Corporation

11.1.1 Company overview

11.1.2 Company snapshot

11.1.3 Operating business segments

11.1.4 Product portfolio

11.1.5 Business performance

11.1.6 Key strategic moves and developments

11.2 Estee Lauder Companies Inc.

11.2.1 Company overview

11.2.2 Company snapshot

11.2.3 Operating business segments

11.2.4 Product portfolio

11.2.5 Business performance

11.2.6 Key strategic moves and developments

11.3 Groupe Rocher

11.3.1 Company overview

11.3.2 Company snapshot

11.3.3 Operating business segments

11.3.4 Product portfolio

11.3.5 Business performance

11.3.6 Key strategic moves and developments

11.4 L'Occitane Group

11.4.1 Company overview

11.4.2 Company snapshot

11.4.3 Operating business segments

11.4.4 Product portfolio

11.4.5 Business performance

11.4.6 Key strategic moves and developments

11.5 L'Oreal S.A.

11.5.1 Company overview

11.5.2 Company snapshot

11.5.3 Operating business segments

11.5.4 Product portfolio

11.5.5 Business performance

11.5.6 Key strategic moves and developments

11.6 LVMH Group

11.6.1 Company overview

11.6.2 Company snapshot

11.6.3 Operating business segments

11.6.4 Product portfolio

11.6.5 Business performance

11.6.6 Key strategic moves and developments

11.7 MuLondon

11.7.1 Company overview

11.7.2 Company snapshot

11.7.3 Operating business segments

11.7.4 Product portfolio

11.7.5 Business performance

11.7.6 Key strategic moves and developments

11.8 Pacifica Beauty

11.8.1 Company overview

11.8.2 Company snapshot

11.8.3 Operating business segments

11.8.4 Product portfolio

11.8.5 Business performance

11.8.6 Key strategic moves and developments

11.9 Unilever plc

11.9.1 Company overview

11.9.2 Company snapshot

11.9.3 Operating business segments

11.9.4 Product portfolio

11.9.5 Business performance

11.9.6 Key strategic moves and developments

11.10 Weleda

11.10.1 Company overview

11.10.2 Company snapshot

11.10.3 Operating business segments

11.10.4 Product portfolio

11.10.5 Business performance

11.10.6 Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/97njws

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