Vegan Cosmetics Market Size, Share, Growth Analysis, By Product Type(Skin Care, Hair Care, Makeup), By Distribution Channel(Hypermarkets & Supermarkets, Specialty Stores, E-Commerce), By Gender(Women, Men, Children), By Price Point(Premium, Economic), By Region - Industry Forecast 2024-2031

In 2021, Europe contributed the most, with a vegan cosmetics market share of over 36.81%. Demand for vegan cosmetics is anticipated to increase as a result of consumer trends toward veganism, particularly in developed nations like the U.K., France, and Germany. Additionally, in 2021, the beauty sector will account for almost 82% of all vegan products introduced in the U.K. Additionally, 97% of British consumers were found to be looking for more vegan-certified cosmetics and personal care items in 2021, according to The Vegan Society.

From 2022 to 2028, the market in North America is anticipated to grow at a notable CAGR. This is due to the existence of numerous vegan cosmetics manufacturers and suppliers in the region, particularly in the United States, including Bawse Lady, NYX Professional, ILIA, and others.

The fastest-growing regional market is predicted to be Asia Pacific. In nations like India, Australia, and others, there is a growing demand for vegan cosmetics as a result of increased awareness of animal abuse. Additionally, since the pandemic, veganism has become popular in numerous nations, including India, Australia, and Japan. Due to this, the region is anticipated to have tremendous growth during the predicted period.