Showing posts with label Global Vegan Cosmetics Market. Show all posts
Showing posts with label Global Vegan Cosmetics Market. Show all posts

Thursday, November 10, 2022

Leading Players in Vegan Cosmetics Market | Vegan Skin Care Cosmetics Market – Ken Research

 Vegan cosmetics are those that are free of animal-derived ingredients such as honey, beeswax, lanolin, collagen, and others. They are primarily composed of botanical ingredients such as plant extracts and oils derived from flowers, herbs, nuts, seeds, and leaves, among others. The majority of such ingredients have healing and rejuvenating properties that help with everything from hyperpigmentation and acne to ageing concerns.

 “Ken Research shares 3 key insights on this high opportunity market from its latest research study”

1.   Vegan Cosmetics Market Continues to Grow Owing to The Increasing Adoption of Veganism.

 

The Global Vegan Cosmetics Market is expected to witness stable growth during the forecast period, owing to the rise of vegan culture, and the rising government implementation of prohibiting animal testing for cosmetics across countries. The global vegan cosmetics market was valued at ~US$ 10 billion in 2017, it is estimated to be ~US$ 13 billion in 2022 and is expected to reach a market size of ~US$ 20 billion by 2028 growing with a CAGR of ~6%.

Europe is the dominating region in the Global Vegan Cosmetics Market due to the presence of the world’s prominent players for cruelty-free cosmetics in Europe, notably in Italy, France, the UK, Germany, and Spain. Furthermore, the European government’s move to prohibit animal testing for cosmetics is also helping the growing vegan cosmetics market.

2.   The Growing Popularity of Plant-Based Products, combined with the Emerging Veganism Trend across Countries is driving the Market Growth of Vegan Cosmetics.

The number of individuals nowadays becoming more aware of the ethical and environmental impact of animal-derived products, leading to an increase in the number of individuals reducing their use of such products. Furthermore, rising incidences of animal cruelty during testing, combined with the adverse environmental effects, are influencing the government to prohibit animal testing for cosmetics and manufacturers to start producing vegan products, resulting in increased adoption of vegan cosmetics. During the COVID-19 pandemic, there was a significant increase in demand for skin care products as people became more aware of the importance of self-care, particularly among those who were infected with the virus, creating a market for plant-based beauty and skincare products. In addition, rising consumer awareness regarding the benefits associated with vegan cosmetics is persuading manufacturers to develop innovative plant-based skincare products using safe and organic ingredients.



3.   Increasing Dissemination of Counterfeit Cosmetic Products across Countries May Impede the Market Growth of Vegan Cosmetics.

Fake cosmetics products are on the rise, particularly since the COVID-19 pandemic, as counterfeiters target less savvy and older shoppers who seem to be new to e-commerce. For instance, according to Daniel Shapiro, vice president of Red Points, a software company based in Spain, reports a 56% increase in counterfeit products sold online across its 700 brand clients in the first six months of 2020. In addition, counterfeit sales increased by 37% among its beauty clients, including skincare device company Foreo and haircare brand Tyme, over the same time period.

Request For Sample Report @

https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTEz

Counterfeiting presently heavily relies on the digital domain to source components and distribute products to customers through online platforms, social media, and instant messaging services. According to European Union Intellectual Property Office (EUIPO), a European government agency, the distribution of counterfeit goods has thrived during the COVID-19 pandemic.

The pandemic has created new opportunities for counterfeit and pirated product trade, and criminals have adapted their business models to meet the increased global demand. According to the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization with 38 member countries, and European Union Intellectual Property Office (EUIPO), counterfeit and pirated goods imports totaled US$ 133 billion (EUR 119 billion) in 2019, accounting for 5.8% of all goods entering the EU.

For more information on the research report, refer to the below link:

Leading Players in Vegan Cosmetics Market | Global Vegan Makeup Brands Market

Read Also –

3 Key Insights on Nearly $7 Bn Opportunity in the Global Agricultural Pumps Market

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Wednesday, November 9, 2022

3 Key Insights on Competitive Landscape in the Global Vegan Cosmetics Market

 Global Players Dominate the Market Holding ~45% Share, Despite the Presence of about ~500 Competitors Comprising a Number of Country-Niche Players, Regional Players, and, Global Players, finds a recent market study on the Global Vegan Cosmetics Market by Ken Research.

Vegan cosmetics are made from plant-based ingredients and do not contain animal-derived ingredients such as beeswax, milk, gelatin, or collagen. They are primarily high in vitamins, which help to naturally plump out the skin and provide the nutrients required for cell regeneration. In addition, the antioxidants found, such as aloevera, tea tree, and camomile in plants are transferred to the skin, and the natural anti-inflammatory effects of such antioxidants reduce redness and irritation.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study”

Country-Niche Players Comprise ~65% of the Total Number of Competitors, While Regional Players Represent ~30% Share in Terms of the Total Number of Players in the Market.

A comprehensive competitive analysis conducted during the Research Study found that the Global Vegan Cosmetics market is highly competitive with ~500 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in adopting advanced technology, such as fermentation technology to enhance the texture, and appearance of products. The majority of global players are utilizing green sciences to create biotechnological formulas and circular product packaging to meet the rising consumer demand for environmentally sustainable and natural products. For instance, in March 2021, L’Oreal adopts a ‘Green Sciences’ approach to its operations and commits to transforming its Research & Innovation. Additionally, the company also stated that by 2030, 95% of its ingredients will be derived from renewable plant sources, abundant minerals, or circular processes.



Country-Niche Players' and Organization’s Ongoing Efforts to New technological Developments are Prompting the Growth the of Cosmetics Industry.

Detailed comparative analysis of key competitors available within the Research Study shows that numerous vegan cosmetics company, such as Biossance, Iba Cosmetics, Daughter Earth, Asa beauty, Arata, and more are highly focused on expanding their vegan offerings with new and innovative formulations for face, hair, and body. Furthermore, numerous companies and organizations are aggressively investing in smart skin analysis solutions, cosmetics nanotechnology, blockchain beauty, and 3D Printing.

Request For Sample Report @

https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MTEz

  • In October 2022, Biossance debuted online with Sephora, a French retail company, for the UK market. In addition, Biossance will be available at the flagship brick-and-mortar store in London, which will open in March 2023.
  • In April 2022, Arata launched a product line of hair care products, particularly for curly hairs in Asian countries. In addition, the ingredients in the hair care products primarily include shea butter, murumuru butter, fenugreek oil, and grape seed oil.

Increasing Government Initiatives, and Strategies Aimed at Prohibiting Chemical Testing for Cosmetics are supporting the Growth of Vegan Cosmetics.

Previously, government-led investment and involvement in cosmetic industry operations were relatively limited worldwide, with the industry relying primarily on private funding. However, in recent years governments conceded that the structure needed to be changed. Several governments across countries have begun to support cruelty-free and natural consumer products by enacting legislation that prohibits cosmetics animal testing.

  • In February 2022, 8 U.S. states, including California, Hawaii, Illinois, Maine, Maryland, Nevada, New Jersey and Virginia passed legislation prohibiting cosmetics animal testing. Additionally, 42 countries, including European Union, Australia, Colombia, Guatemala, Iceland, India, Israel, Mexico, New Zealand, Norway, South Korea, Switzerland, Taiwan, Turkey, the United Kingdom and several states in Brazil, also enacted laws limiting or prohibiting animal testing in cosmetics.
  • In July 2020, the Australian government initiate ban cosmetics animal testing to protect public health, worker safety, and the environment while having the least impact on business.

For more information on the research report, refer to the below link:

Asia-Pacific Vegan Cosmetics Market

Read Also –

3 Key Insights on Nearly $7 Bn Opportunity in the Global Agricultural Pumps Market

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us: –

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249