Vegan Cosmetics Market Size, Share, and Trends 2024 to 2033

Vegan Cosmetics Market Size and Growth

The global vegan cosmetics market size was USD 17.12 billion in 2023, calculated at USD 18.20 billion in 2024 and is expected to reach around USD 31.59 billion by 2033, expanding at a CAGR of 6.32% from 2024 to 2033. One of the main factors driving vegan cosmetics market expansion is the rise of vegan consumerism worldwide, where consumers are against animal cruelty and seek cosmetics that do not contain animal ingredients.

Vegan Cosmetics Market Key Takeaways

• Europe dominated the market with the highest revenue share of 39% in 2023.
• Asia Pacific is expected to expand at the fastest CAGR of 7.41% during the forecast period.
• By product, the skin care segment has contributed more than 36% in 2023.
• By product, the hair care segment is expected to grow at the fastest CAGR of 6.83% in the market during the projected period.
• By distribution channel, the specialty stores segment has contributed more than 36% of revenue share in 2023.

Europe Vegan Cosmetics Market Size and Growth 2024 to 2033

The Europe vegan cosmetics market size was exhibited at USD 6.68 billion in 2023 and is projected to be worth around USD 12.48 billion by 2033, poised to grow at a CAGR of 6.44% from 2024 to 2033.

Europe dominated the global vegan cosmetics market in 2023. As more individuals adopt vegan diets, particularly in countries like the United Kingdom, France, and Germany, the demand for vegan cosmetics is expected to rise. European retailers, including specialty beauty stores, pharmacies, department stores, and online platforms, actively promote vegan and cruelty-free cosmetics through dedicated sections, labels, and promotions.

As ethical and environmentally conscious consumer trends gain traction, the vegan cosmetics market in the United Kingdom is expanding substantially. Growing concern for animal welfare and a preference for cruelty-free products are driving the popularity of vegan cosmetics. In line with the UK's commitment to sustainability, there is also a rising demand for pure and natural cosmetic formulas within the vegan cosmetics market. This can fuel market growth in the UK.

• In January 2024, the UK-based cosmetic company The Body Shop announced its 100% vegan achievement, making it the world's first global beauty brand to offer 100% vegan product formulations certified by The Vegan Society across all ranges, including skincare, body care, haircare, makeup, and fragrance.

Asia Pacific is expected to host the fastest-growing vegan cosmetics market during the forecast period. In countries like India and Australia, there is a growing demand for vegan cosmetics due to increased awareness of animal cruelty. Additionally, since the pandemic, veganism has gained popularity in several nations, including India, Australia, and Japan. Hence, the region is expected to experience significant growth during the forecast period.

Market Overview

The vegan cosmetics market encompasses a variety of beauty products, including skincare, makeup, haircare, and personal care items such as moisturizers, shampoos, lipsticks, foundations, and body lotions. These products cater to consumers who follow vegan lifestyles, are concerned about animal welfare, or have sensitivities to animal-derived ingredients.

Vegan cosmetics exclude ingredients like collagen, lanolin, carmine, beeswax, and several derivatives of glycerin obtained from animals. Instead, they use plant-based alternatives, synthetic ingredients, and mineral-based pigments to achieve the desired colors, functionalities, and textures. Furthermore, innovations in sustainable packaging and eco-friendly manufacturing practices are shaping the future of vegan cosmetics.

Vegan Cosmetics Market Growth Factors

• Rising consumer awareness of animal testing practices is expected to drive the vegan cosmetics market.
• There is an increasing global trend toward ethical and sustainable consumption across different industries, which can fuel the vegan cosmetics market growth.
• The rising trend of veganism has encouraged manufacturers to invest in research & development, which is likely to contribute to the growth of the vegan cosmetics market.
• Growing consumer awareness regarding the benefits associated with the use of vegan cosmetics can boost the vegan cosmetics market growth further.

Vegan Cosmetics Market Scope

Vegan Cosmetics Market Dynamics

Driver

Gen Z's call for inclusive and authentic branding

Gen Z consumers are discerning when it comes to brands, seeking more than just product efficacy and transparency. They expect brands to authentically embrace values that extend beyond basic functionality. Gen Z values businesses that demonstrate approachability and authenticity and incorporate principles of sustainability, diversity, and inclusivity. They also seek brands that offer a compelling narrative beyond their products and provide a supportive community of consumers. This generation is challenging traditional norms regarding gender and product categories and redefining the concept of physical attractiveness, all of which can drive the vegan cosmetics market.

• In March 2024, Beekman 1802 introduces the first vegan bio-milk for oily and combination skin, targeting Gen Z with biotech skincare innovations.  After extensive research and collaboration with chemists, scientists, and biotech firms, Beekman 1802 reverse-engineered goat milk into a vegan formula that hydrates and balances oily or sensitive skin.

Restraint

Closures of hypermarkets and supermarkets

The beauty and personal care industry has been severely impacted by the pandemic, facing substantial challenges in adjusting to shifting consumer preferences. Consumers are now prioritizing products that are safer, with reduced risk of contamination and longer shelf life, when spending their money. Furthermore, closures of hypermarkets, supermarkets, and department stores have greatly hindered growth opportunities in the vegan cosmetics market, which leads brands to concentrate on enhancing their online retail capabilities.

Opportunity

Innovation in formulations and ingredients

The vegan cosmetics market is characterized by advancements in ingredient and formulation technologies that enhance the usability, effectiveness, and sensory appeal of vegan products. Manufacturers are investing in research and development to create innovative vegan formulas that meet ethical and sustainable standards and deliver results comparable to or better than traditional cosmetics. This includes improving the texture, color, and longevity of vegan cosmetics using state-of-the-art ingredients derived from plants, botanical extracts, natural oils, and mineral pigments. Moreover, technological advancements have enabled the development of vegan alternatives to traditional animal-derived ingredients such as collagen, keratin, and beeswax.

• In June 2024, Lady K Malaysia launches halal and vegan skincare products. The products offered are unique because they are free from animal-based ingredients and are not tested on animals. The product displays were minimalist yet elegant, underscoring the brand’s commitment to environmental responsibility and aesthetic appeal.

Product Insights

The skin care segment dominated the vegan cosmetics market in 2023 and is projected to sustain its position throughout the forecast period. Today, conscientious consumers prefer vegan skin care products due to their awareness of the benefits these products offer. Vegan skincare products, typically made with plant-based ingredients, are less likely to cause itchiness, irritation, acne, and other skin issues. This growing consumer awareness drives the preference for vegan options in skincare.

• In November 2023, Fitspire, a vegan and plant-based personal wellness brand, entered the $17 billion global skincare market by launching plant-based biotin, collagen, and omega products. The brand aims to cater to Indian consumers seeking vegan, natural, clean, and cruelty-free products.

The hair care segment is expected to grow at the fastest rate in the vegan cosmetics market during the projected period. Vegan hair care products, such as shampoos, hair oils, conditioners, and hair masks, are available in various forms to cater to customer needs. This variety is driving the all-over demand for hair care products.

Distribution Channel Insights

The specialty stores segment led the vegan cosmetics market in 2023. Specialty stores often collaborate with beauty brands to launch exclusive vegan collections or partnerships. These limited-edition releases and curated assortments attract consumers seeking innovative and trendy vegan beauty products, boosting foot traffic and sales for both retailers and brands. Specialty stores serve as hubs for brand discovery, which allows consumers to explore new and emerging vegan cosmetics brands alongside established favorites.

• In April 2024, Kylie Cosmetics, the global beauty phenomenon founded by Kylie Jenner, announced its launch in India, a significant milestone in the brand's global expansion. Partnering with House of Beauty, the leading beauty specialty company that brings coveted international beauty brands to India, Kylie Cosmetics' arrival has been long awaited by Indian beauty consumers.

The supermarkets & hypermarkets segment is anticipated to grow at a considerable pace in the vegan cosmetics market over the projected period. Supermarkets and hypermarkets typically cover large areas and offer a wide variety of beauty products, including vegan cosmetics, all under one roof. Strategically located near residential areas, these stores provide convenient and easy access to a range of products for consumers.

Vegan Cosmetics Market Companies

• Zuzu Luxe
• Ecco Bella
• Bare Blossom
• Emma Jean Cosmetics
• Modern Mineral Makeup
• Urban Decay
• Arbonne, Pacifica
• Nature’s Gate
• Beauty Without Cruelty
• Billy Jealousy
• MuLondon Organic

Recent Developments

• In March 2023, Fruit Works, a company based in England, has recently introduced a new line of vegan bath, body, and skin care products. The range includes face masks, body scrubs, glow mist, and body soufflé. All the products are made from a 100% natural fruit complex derived from sugarcane, lemon, and orange. The company has launched ten products across its hair, body, and skincare segments.
• In Feb 2023, Kinder Beauty, a U.S.-based makeup brand, launched vegan facial serums with science-backed formulations that include Vitamin C, Bakuchiol, and Hyaluronic Acid. These products are now available on the company’s website.
• In January 2022, Colorbar, one of the market's leading manufacturers, unveiled a vegan nail lacquer in 128 different shades to expand its vegan product line in the Indian market.

Segments Covered in the Report

By Product

• Skincare
• Hair Care
• Color Cosmetics
• Others

By Distribution Channel

• Hypermarkets & Supermarkets
• Specialty Stores
• E-commerce
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa