Market Overview
Cruelty-Free Cosmetics Market Size is projected to reach USD 14.23 Billion by 2030, and the market is expected to register a growth rate of 4.56% during the review period.
Increasing sale of cruelty-free cosmetics is driven by rising awareness among the consumers about the production process used by the manufacturers for production of non-cruelty free cosmetics. Rising concerns about animal welfare is one of the major drivers for this market. In non-vegan cosmetics products, animals are subjected to various tests which include test on their eyes and shaved bodies which is torturous to the animals. Based on the ethical reasons, mass consumers are inclined more towards the use of natural cruelty-free products. Increasing disposable income and economy development also has influenced the consumers’ spending behavior leading to increased expenditure on quality products with no animal ingredients. All these factors contribute to increased market share of cruelty-free or vegan cosmetics globally. The consumption as well as production of cruelty-free cosmetics is found to be high in Europe region and is evaluated to increase at a positive growth rate in various countries of North America and Asia-Pacific.
Market Forecast
Globally the Cruelty-Free Cosmetics Market share as one of the fastest growing range in personal-care product range is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for organic and vegan products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards the usage of personal care products with organic ingredients which also has a positive impact on this market.
Downstream analysis
Consumption of cruelty-free cosmetics is growing at a significant rate based on high consumers demand for products containing natural ingredients which need not be tested on animals and are non-allergic. As consumers are becoming more beauty conscious globally, cruelty-free makeup color cosmetics tend to hold a major share in the market. Further, based on the form, cruelty-free cream dominates the segment based on easy application and high shelf-life of the product.
Sale of cruelty-free cosmetics through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience. In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of Cruelty-Free Cosmetics through e-commerce is found to escalate at a positive growth rate.
Competitive analysis-
The major key players in cruelty-free cosmetics market are
- L'Oréal S.A. (France)
- COVER FX Skin Care Inc. (Canada)
- INIKA Organic (Australia)
- Spectrum Collections (U.K.)
- Kat Von D Beauty (U.S.)
- Beauty B (U.S.)
- PHB Ethical Beauty (U.K.)
Cruelty-Free Cosmetics manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to consumers get attracted towards the product range leading to its growing sale. In Europe, France is among the dominating countries holding a major share in cruelty-free cosmetics market and exports the product in various other countries which include U.S., China, Norway, and others.
Regional Analysis
The global cruelty-free cosmetics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe holds a major market share followed by Asia Pacific region. Developing economy has resulted in changed consumer’s spending behavior leasing to increased demand for non-animal tested and no-animals ingredients products from the developed countries of regions contributing to the positive growth of cruelty-free cosmetics market. U.S., China, U.K., Germany, and Singapore are the major importers of cruelty-free cosmetics.
Market Segmentation-
Global Cruelty-Free Cosmetics market is segmented by product-type, form, distribution channel and region
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