| Status : Published | Published On : Sep, 2024 | Report Code : VRCH2105 | Industry : Chemicals & Materials | Available Format :
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Page : 199 |
Global Vegan Cosmetics and Personal Care Ingredients Market Size & Share | Growth Forecast Report 2030
Industry Insights By Products (Individual Consumers, Salons and Spas), By End Use (Skincare, Haircare, Makeup and Fragrances), By Packaging (Sustainable & Eco-friendly and Refillable), By Ingredients (Plant-based Oils, Herbal Extracts and Fruit-derived Pigments), By Price Points (Mass, Mid-range and Premium) and By Distribution Channels (eCommerce Platforms and Retail) and By Geography (North America, Europe and Asia Pacific)
Industry Overview
The global vegan cosmetics and personal care ingredients market was estimated at USD 10.4 billion in 2023 and is poised to grow up to USD 21.8 billion by 2030, registering a CAGR of 7.5% during the forecast period ranging between 2025 and 2030.
Vegan cosmetics signify those cosmetic products that do not contain any ingredients derived from animals in their manufacturing. Instead, plant-based alternatives are used as ingredients to make these products. These ingredients include aloe vera, coconut oil, and other essential oils that replace traditional ingredients such as lanolin or beeswax. These products are available in a wide range of categories, including skincare, makeup, haircare, and fragrances.
The growth of the market is primarily driven by the shift of consumers from traditional to vegan lifestyle. In addition, it is also influenced by the growing support by regulatory frameworks against animal testing and the stringent government policies in specific regions of the world. It is also attributed to the significant growth in disposable incomes of the consumers as well as the increasing availability of these products across a wide range of distribution channels.
Global Vegan Cosmetics and Personal Care Ingredients Market Report Coverage
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Report Metric |
Details |
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Historical Period |
2018 - 2023 |
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Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 10.4 Billion |
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Revenue Forecast in 2030 |
U.S.D. 21.8 Billion |
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Growth Rate |
7.5% |
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Segments Covered in the Report |
By Products, By End Use, By Packaging, By Ingredients, By Price Points, By Distribution Channels |
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Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
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Regions Covered in the Report |
North America, Europe and Asia Pacific |
There are however a few specific challenges that impede the growth of the market despite its significant prospects. For example, the high cost of these vegan products is often out of reach of consumers with average income, thereby limiting its accessibility and market expansion. The limited availability of specific raw materials also poses significant obstacles in manufacturing these products. Still, significant growth opportunities are offered to the industry due to the innovations in sustainable packaging and development of plant-based ingredients.
Global Vegan Cosmetics and Personal Care Ingredients Industry Dynamics
Global Vegan Cosmetics and Personal Care Ingredients Market Trends / Growth Drivers:
The most significant trend noticed in global vegan cosmetics and personal care ingredients marketis the higher prioritization of sustainability in the purchasing decisions of buyers. They are more inclined to products or brands that offer sustainable products in eco-friendly packaging solutions. A rising trend toward clean beauty is another significant trend noticed in the market urging consumers to choose products that are free from parabens, harmful chemicals, and synthetic preservatives. The higher promotion of such products by celebrities and social media influencers is also a notable trend along with the expansion of beauty lines by several major brands in the market.
The growth of theglobal vegan cosmetics and personal care ingredients marketis driven by the growing demand for plant-based and more sustainable vegan beauty products among the consumers. The growing concerns over environmental impacts and toward ethical and conscious consumerism and efforts to reduce carbon footprints and plastic waste by the buyers as well as the manufacturers also fuel the market growth. The growing health consciousness among consumers and their better knowledge of safer and healthier alternatives drives the demand for vegan cosmetic and healthcare products drives the market further forward. The visibility and awareness of these products facilitated by celebrity endorsements and the social media influencers encourage the young generation to use their products, propelling their demand and market growth.
Recent Development By Key Players:
L’Oreal bought vegan luxury cosmetic brand Aesop for USD 2.5 bn. This acquisition marks the biggest deal by the French luxury giant in decades.
Global Vegan Cosmetics and Personal Care Ingredients Market Challenges:
Supply chain transparency is a serious challenge faced by the global vegan cosmetics and personal care ingredients market that is impeding its growth. Also, misconceptions among consumers regarding the effectiveness of vegan products despite their growing awareness limits widespread adoption and thereby the market growth.
Global Vegan Cosmetics and Personal Care Ingredients Market Opportunities:
Significant innovation in biotechnology and developments in natural sciences help develop new plant-based ingredients that offer higher sustainability and better performance. This presents novel growth opportunities to the global vegan cosmetics and personal care ingredients market. Also, higher disposable incomes and awareness of these products among consumers in emerging economies promise significant growth prospects.
Global Vegan Cosmetics and Personal Care Ingredients Market Segmentation
VynZ Research provides an analysis of the key trends in each segment of the global Vegan Cosmetics and Personal Care Ingredients Market report, along with forecasts at the global, regional and country levels from 2025-2030. Our report has categorized the market based on products, end use, packaging, ingredients, price points, and distribution channels.
Insight by Products
- Individual Consumers
- Salons
- Spas
Individual consumer segment holds the largest share
The global vegan cosmetics and personal care ingredients market is segmented by end use into individual consumers, salons, and spas. Out of these segments, the individual consumer segment holds the largest share and is expected to dominate the market with its higher market revenues and due to higher adoption of vegan lifestyles by consumers, particularly the Gen Z and millennials.
Insight by End Use
- Skincare
- Haircare
- Makeup
- Fragrances
Skincare products section tends to dominate the market
The major product types also divide the global vegan cosmetics and personal care ingredients market into different sections such as skincare, haircare, makeup, and fragrances. Among them, the skincare products section tends to dominate the market with a higher revenue share and due to rising demand for natural, plant-based formulations, though the other two sections are also growing quite significantly due to use of plantextracts and preference of consumers for vegan alternatives in formulations.
Insight by Ingredients
- Plant-based Oils
- Herbal Extracts
- Fruit-derived pigments
The plant-based oils section is expected to dominate the market
The global vegan cosmetics and personal care ingredients market is segmented by ingredient types into plant-based oils, such as coconut, argan, and jojoba, herbal extracts such as chamomile, green tea, and aloe vera, and fruit-derived pigments sections. Out of all these ingredient types, the plant-based oils section is expected to dominate the market and grow at a higher rate during the forecast period due to higher prevalence in skincare and haircare products and offering soothing benefits. It is also attributed to the growing interest of consumers in natural, organic, and ethically sourced ingredients.
Insight by Packaging
- Sustainable & Eco-friendly
- Refillable
The sustainable and eco-friendly packaging solutions section has a high demand
According to the different types of packaging, the global vegan cosmetics and personal care ingredients market is divided into sustainable and eco-friendly packaging such as recyclable, biodegradable, and refillable packaging solutions, plastic, metal, paper, and glass containers. Among all these forms of packaging, the sustainable and eco-friendly packaging solutions section has a high demand compared to others due to the growing environmental concerns and higher preference among eco-conscious consumers.
Insight by Price Points
- Mass
- Mid-range
- Premium
Mid-range segment is expected to witness a higher growth rate during the projected period
The global vegan cosmetics and personal care ingredients market is categorized by varied price points into mass, mid-range, and premium segments. Out of all these three segments, the mid-range segment is expected to witness a higher growth rate during the projected period due to high quality ingredients and greater affordability, though the other segments are growing at a steady rate.
Insight by Distribution Channel
- eCommerce Platforms
- Retail
eCommerce section leads the market
Based on the different distribution channels, the global vegan cosmetics and personal care ingredients market is divided into eCommerce or online platforms and retail or offline stores. Out of them the eCommerce section leads the market due to higher sales, greater convenience, easier accessibility, and a wide range of products at display.
Global Vegan Cosmetics and Personal Care Ingredients Market: Geographic Overview
North America currently leads the global vegan cosmetics and personal care ingredients marketand is expected to grow more during the forecast period due to rising consumer awareness and concerns over cruelty to animals. The benefits offered by the vegan products are also a factor that drives more adoption among users in this region and facilitates market growth.
A more mature European market is growing further due to higher demand for vegan products in specific countries like France, Germany, and the U.K due to strict regulations against animal cruelty and testing.
The Asia-Pacific market is expected to grow at a faster rate during the projected period due to rapid adoption by consumers in developing countries like India and China, the growing disposable income among people, and rising awareness of and preference for ethical beauty.
Global Vegan Cosmetics and Personal Care Ingredients Market Competitive Insight
The report provides a comprehensive analysis of the competitive landscape in the market. Some of the key players in the market include:
- Loreal SA
- Cottage Holdco B.V. (Coty Company)
- MuLondon
- Beauty Without Cruelty
- E.L.F. Cosmetics Company
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Vegan Cosmetics and Personal Care Ingredients Market