Vegan cosmetics market 2023-2027: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 10, 2023 /PRNewswire/ -- According to Technavio, the global vegan cosmetics market size is estimated to grow by USD 5,872.81 million from 2022 to 2027. The market is expected to grow at a CAGR of 6.5% during the forecast period. Moreover, the growth momentum will progress. Europe will account for 36% of the growth of the global market during the forecast period. 

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Global vegan cosmetics market - Five forces
The global vegan cosmetics market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For interpretation of Porter's five forces model – buy the report!

Technavio categorizes the global vegan cosmetics market as a part of the global personal products market, which covers products and companies engaged in research and development and the production of personal and beauty care products, including cosmetics and perfumes. Technavio calculates the size of the global personal products market based on the combined revenue generated by manufacturers of these products.

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The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Segment overview
Technavio has segmented the market based on distribution channel (offline and online) and type (skincare, hair care, cosmetics, and others). 

• The offline segment will contribute significantly to the market's growth during the forecast period. This segment comprises specialty stores, hypermarkets, supermarkets, convenience stores, clubhouse stores, and others. Offline shopping formats build trust among consumers. Cosmetics companies offer free samples to potential customers through their brand outlets. Consumers tend to purchase new cosmetics at retail stores. These factors have made the offline sales channel segment dominant in the vegan cosmetics market. 

Geography Overview
Based on geography, the global vegan cosmetics market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global vegan cosmetics market.

• Europe is estimated to account for 36% of the growth of the global market during the forecast period. The UK, Germany, France, and Russia are some of the leading cosmetics markets in the region. Vegan cosmetics are not tested on animals. Many countries in Europe have banned the testing of cosmetics on animals. Thus, various cruelty-free cosmetics have been launched in the region. All these factors will drive the growth of the regional market during the forecast period.

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• The promotional and marketing strategies employed by cruelty-free cosmetics vendors are notably driving the vegan cosmetics market growth.
• Numerous cruelty-free cosmetics products are being launched across the world.
• Vendors such as L'Oreal are investing in promoting and marketing cruelty-free cosmetics by acquiring small cruelty-free cosmetics brands.
• In addition, numerous cosmetics startups are focusing on cruelty-free cosmetics.
• Such factors are expected to drive the growth of the market during the forecast period.

• The growth of the e-commerce market is a key trend in the vegan cosmetics market.
• Small or medium-sized cosmetics companies are leveraging e-commerce to promote their products.
• the advent of social media, the increasing penetration of the internet, and the growing adoption of smartphones allow customers to access a wide range of cosmetics.
• Such factors are expected to support the market's growth during the forecast period.

• Stringent guidelines for obtaining vegan or cruelty-free certification are impeding the vegan cosmetics market growth.
• Cruelty-free certification assures consumers that a product is not tested on animals.
• Some of the guidelines for obtaining the Certified Vegan logo are no use of animal products, no animal testing, no use of animal genetically modified organisms (GMOs), and details of the ingredient suppliers.
• As a result, earning a vegan logo is cost- and time-intensive.
• Therefore, cosmetics brands are hesitant to add cruelty-free products to their product portfolio.
• These factors will challenge the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. find some insights from a sample report!

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the vegan cosmetics market between 2023 and 2027
• Precise estimation of the size of the vegan cosmetics market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the vegan cosmetics market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vegan cosmetics market vendors

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The cosmetics market size is expected to increase by USD 78.89 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.36%. This report extensively covers the cosmetics market segmentation by type (skin care, hair care, makeup, fragrance, and others), end-user (women and men), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). 

The online premium cosmetics market size is expected to increase by USD 15.26 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7%. The rise in the aging population is notably driving the online premium cosmetics market growth, although factors such as the high cost of cosmetic skincare products may impede the market growth. 

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1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global cruelty free cosmetics market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global cruelty free cosmetics market 2017 - 2021 ($ million)

• 4.2 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Skin care - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Skin care - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Skin care - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Skin care - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Skin care - Year-over-year growth 2022-2027 (%)

• 7.4 Hair care - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Hair care - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Hair care - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Hair care - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Hair care - Year-over-year growth 2022-2027 (%)

• 7.5 Cosmetics - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Cosmetics - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Cosmetics - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 63: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 UK - Market size and forecast 2022-2027 
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027 
• Exhibit 101: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Coty Inc
• Exhibit 116: Coty Inc - Overview
• Exhibit 117: Coty Inc - Business segments
• Exhibit 118: Coty Inc - Key offerings
• Exhibit 119: Coty Inc - Segment focus

• 12.4 Debenhams Plc
• Exhibit 120: Debenhams Plc - Overview
• Exhibit 121: Debenhams Plc - Business segments
• Exhibit 122: Debenhams Plc - Key offerings
• Exhibit 123: Debenhams Plc - Segment focus

• 12.5 e.l.f. Beauty Inc.
• Exhibit 124: e.l.f. Beauty Inc. - Overview
• Exhibit 125: e.l.f. Beauty Inc. - Product / Service
• Exhibit 126: e.l.f. Beauty Inc. - Key offerings

• 12.6 Kose Corp.
• Exhibit 127: Kose Corp. - Overview
• Exhibit 128: Kose Corp. - Product / Service
• Exhibit 129: Kose Corp. - Key offerings

• 12.7 LOreal SA
• Exhibit 130: LOreal SA - Overview
• Exhibit 131: LOreal SA - Business segments
• Exhibit 132: LOreal SA - Key news
• Exhibit 133: LOreal SA - Key offerings
• Exhibit 134: LOreal SA - Segment focus

• 12.8 Lush Retail Ltd.
• Exhibit 135: Lush Retail Ltd. - Overview
• Exhibit 136: Lush Retail Ltd. - Product / Service
• Exhibit 137: Lush Retail Ltd. - Key offerings

• 12.9 MAV Beauty Brands Inc. 
• Exhibit 138: MAV Beauty Brands Inc. - Overview
• Exhibit 139: MAV Beauty Brands Inc. - Product / Service
• Exhibit 140: MAV Beauty Brands Inc. - Key offerings

• 12.10 Milk Makeup LLC
• Exhibit 141: Milk Makeup LLC - Overview
• Exhibit 142: Milk Makeup LLC - Product / Service
• Exhibit 143: Milk Makeup LLC - Key offerings

• 12.11 MO MI by Modern Minerals Inc. 
• Exhibit 144: MO MI by Modern Minerals Inc. - Overview
• Exhibit 145: MO MI by Modern Minerals Inc. - Product / Service
• Exhibit 146: MO MI by Modern Minerals Inc. - Key offerings

• 12.12 Natura International Inc. 
• Exhibit 147: Natura International Inc. - Overview
• Exhibit 148: Natura International Inc. - Product / Service
• Exhibit 149: Natura International Inc. - Key offerings

• 12.13 New Earth Beauty LLC
• Exhibit 150: New Earth Beauty LLC - Overview
• Exhibit 151: New Earth Beauty LLC - Product / Service
• Exhibit 152: New Earth Beauty LLC - Key offerings

• 12.14 New Milani Group LLC
• Exhibit 153: New Milani Group LLC - Overview
• Exhibit 154: New Milani Group LLC - Product / Service
• Exhibit 155: New Milani Group LLC - Key offerings

• 12.15 Pacifica Beauty LLC
• Exhibit 156: Pacifica Beauty LLC - Overview
• Exhibit 157: Pacifica Beauty LLC - Product / Service
• Exhibit 158: Pacifica Beauty LLC - Key offerings

• 12.16 PUIG S.L.
• Exhibit 159: PUIG S.L. - Overview
• Exhibit 160: PUIG S.L. - Product / Service
• Exhibit 161: PUIG S.L. - Key offerings

• 12.17 The Estee Lauder Co Inc 
• Exhibit 162: The Estee Lauder Co Inc - Overview
• Exhibit 163: The Estee Lauder Co Inc - Product / Service
• Exhibit 164: The Estee Lauder Co Inc - Key news
• Exhibit 165: The Estee Lauder Co Inc - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 166: Inclusions checklist
• Exhibit 167: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 168: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 169: Research methodology
• Exhibit 170: Validation techniques employed for market sizing
• Exhibit 171: Information sources

• 13.5 List of abbreviations 
• Exhibit 172: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: [email protected]
Website: www.technavio.com/

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