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Europe leads the global vegan cosmetics market driven by the strong presence of major key players in the cosmetics industry in the region, who are increasingly introducing vegan product lines into their product portfolio. In the coming years, North America is projected to experience a considerable growth in the market. The market in both the regions are being driven by the rising eco-consciousness among the consumers and the rising demand for vegan products.
Vegan beauty products make the use of natural ingredients such as aloe vera, essential oils, seaweed, and chamomile to enhance the body’s wellbeing and eliminate acne, dark circles, and other skin defects. Besides, vegan cosmetics have anti-ageing properties and are especially beneficial for delicate skin. Increasing environmental consciousness has led many businesses to discourage the use of raw materials harvested from animals by producing similar ingredients using other natural resources and improving standard resource efficiency. Besides, the introduction of natural alternatives, such as plant-based personal care products, works to the benefit of the consumer. In a few developed countries in Europe, the use of animal products such as hair, fur, and others is prohibited, which in turn aids the market growth. The growing demand for halal cosmetic products is growing among consumers across Malaysia, Indonesia, Jorden, and the United Arab Emirates as more products are being produced in the halal cosmetics market space, and ingredients are increasingly being halal certified. This has provided a significant boost to the vegan cosmetics industry. The growing distribution channels of the products, especially with the growth of the e-commerce market, is expected to positively influence the market with the products being easily available on online shopping sites like Amazon (NASDAQ: AMZN).
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The key players in the global vegan cosmetics market include Ecco Bella, Bare Blossom, Emma Jean Cosmetics, INC., Urban Decay Cosmetics, Arbonne International, LLC, and others. The report presents a detailed analysis of the above key players in the global vegan cosmetics market, analysing their potential, market shares, and the latest developments such as capacity expansion, plant turnarounds, and mergers and acquisitions.
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