Global Vegan Cosmetics Market Size, Share & Trends Analysis Report, By Type (Skin Care, Hair Care, Makeup, and Others), By Distribution Channel (E-commerce, Hypermarkets/Supermarkets, Departmental Stores, Specialty Stores, and Others), Forecast Period (2022-2028) The global vegan cosmetics market is anticipated to grow at a CAGR of 6.2% during the forecast period. The market is driven by the rising concern regarding environmental degradation and awareness regarding cruelty toward animals. Vegan cosmetics do not use animal by-products and alternatives to animal experimentation that are free of any cruelty have been developed. Brands are acknowledging this growing trend and taking steps to get ahead of the competition. For instance, the international brand Garnier has been certified cruelty-free by Cruelty-Free International an organization working toward ending animal experiments. Online sales of vegan beauty products have significantly increased, which in turn, is offering an opportunity for market growth. The global vegan cosmetics market is segmented based on type and distribution channel. Based on the type, the market is segmented into skin care, hair care, makeup, and others. Based on the distribution channel, the market is segmented into e-commerce, hypermarkets/supermarkets, departmental stores, specialty stores, and others. The E-commerce segment has witnessed significant growth during the forecasted period owing to the rising number of e-commerce platforms and increasing smartphone penetration. Vegan cosmetics are still widely distributed through offline retail establishments around the world. Vegan cosmetics are widely available on Amazon, which is the world's largest online retailer. While having established their presence in the offline product distribution space (supermarkets/hypermarkets, department stores, and other physical retail establishments), prospective brands are likely to introduce their products across domestic and regional markets through such internationally renowned e-commerce distribution platforms. According to Amazon UK, the number of vegan options accessible on the site has increased by 23% since 2020. Plant-based product sales have also climbed by 61% year over year. Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific is projected to hold a prominent share during the forecast period owing to the rising consumption of plant-based cosmetics. From 1st May 2021, China removed the mandatory animal testing requirements for imported ‘general’ cosmetics. The major companies serving the global vegan cosmetics market include MuLondon Ltd., Estee Lauder Companies Inc., Loreal SA, Amway Corp., and L’OCCITANE Group. The market players are contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in May 2022, Lotte Duty Free launched a range of vegan cosmetics through its online mall LDF BUY. Research Methodology The market study of the global vegan cosmetics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports. Secondary Sources Include • Financial reports of companies involved in the market. • Whitepapers, research papers, and news blogs. • Company websites and their product catalog. The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models. Market Segmentation 1. Global Vegan Cosmetics Market Research and Analysis by Type 2. Global Vegan Cosmetics Market Research and Analysis by Distribution Channel The Report Covers • Comprehensive research methodology of the global vegan cosmetics market. • This report also includes a detailed and extensive market overview with key analyst insights. • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. • Analysis of regional regulations and other government policies impacting the global vegan cosmetics market. • Insights about market determinants that are stimulating the global vegan cosmetics market. • Detailed and extensive market segments with the regional distribution of forecasted revenues. • Extensive profiles and recent developments of market players.