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Vegan Beauty Market Share Expected to Reach USD 20.8 Billion by 2025 Globally

14th Jul 2022

Vegan Beauty Market Share Expected to Reach USD 20.8 Billion by 2025 Globally

With the concept of veganism, the first thing that emerges is the exclusion of food and clothes that come at the expense of harming animals. However, veganism extends to cosmetics and beauty products as well. Veganism is more about what we put into our bodies and apply to our faces.
As per the Telegraph, in over a decade, the number of vegans has increased from 150,000 to over 540,000. The number is fueled by younger people, aged between 16 and 34, who account for almost half that number.
The global vegan and cruelty-free cosmetics market is seeing spiralling demand. According to a study, the US market for vegan cosmetics is forecast to surpass US$3 billion by the end of 2025. The vegan industry is growing because of a rising concern around safety, health, and increased disinclination amongst the public toward animal-tested products. In the coming years, the vegan beauty market can witness sales surge via online channels.

Main Factors Driving the Vegan Cosmetics Market Growth:
Growing demand for beauty and personal care products and awareness of vegan and cruelty-free items are driving the vegan cosmetics market share. The rising concerns about the negative impacts of petroleum-based cosmetic ingredients and the high prevalence of multiple skin-related disorders are igniting the vegan beauty market growth.

People Preferring Cruelty-Free Products
Preference for cruelty-free products is a major factor in this industry’s growth. Pro vegan consumers, especially Gen Z, are on a mission to stop animal cruelty. One component of this mission is to save animal experimentation by not buying products derived from animal testing. As per a survey in the US, around 32 % of surveyed participants belonging to Generation Z were interested in trying vegan beauty and personal care products. This rate was slightly lower for millennials at 28%

Ecommerce Made it Simple
The rise of E-commerce seems to propel the vegan beauty and cosmetics market growth. With the emergence of e-commerce platforms, beauty product offerings have increased. Online beauty brands are offering doorstep delivery, attractive discounts, and secure payment gateways, fueling the market growth.

Introducing a Vegan Beauty Line with Existing Products Boosts Sales
Moreover, to broaden their customer base, different luxury accessories and clothing brands include vegan cosmetics in their product portfolios. According to a survey, in 2021, store-based global health and beauty sales were estimated to have a value of 832.7 billion U.S. dollars and are forecast to increase by around 150 billion U.S. dollars by 2026. In comparison, global e-commerce sales in the health and beauty category were predicted to reach 358.4 billion U.S. dollars in 2026.

Social Media Marketing Drives Sales
The rising influence of beauty trends on social media and the emerging number of celebrity endorsements for the promotion of vegan cosmetics are driving the demand for the vegan beauty market. Keeping the traditional cosmetics for women aside, various manufacturers are now offering vegan grooming products for men to meet changing needs and preferences.
As per the survey published in 2022, in the United States, 74% of Generation Z respondents to a 2021 survey were found to be driven by social media influencers when buying beauty products. This was true for around 66% of millennials and only 34% of baby boomers polled for the survey.

Revolutionary Ingredients in Demand
A majority of vegan beauty cosmetics comprise natural ingredients. They are rich in vitamins, so your chances of unknowingly using unnatural ingredients on your face are low to none. A few of the ingredients used in vegan cosmetics include essential oils, aloe vera, chamomile, CBD oil, sea kelp, peppermint, camphor and many more. 
Each of the ingredients mentioned above will do wonders for your skin differently. Thus, the use of natural ingredients is also a factor in the growth of the vegan skincare market. According to a study, the global market value for natural cosmetics and personal care expected a positive increase from almost 34.5 billion dollars in 2018 to roughly 54.5 billion dollars expected for 2027.

Wrapping it Up!
You don't need to be a vegan to understand a medley of benefits of vegan cosmetics. The increase in market size of vegan beauty products is due to putting a stop to animal testing. Also, it is due to skincare benefits such as skin hydration, a more vibrant and younger look, and consumers’ psyche contributing to a noble cause.