The United States Vegan Cosmetic market is anticipated to grow at a rate of robust CAGR for the forecast period, 2022-2026. High demand from the youth population for Vegan Cosmetics due to increasing consumer awareness is the primary driving factor responsible for the market growth.
Vegan Cosmetics refer to that product that does not contain any animal-derived or animal-based products in the manufacturing process. Vegan Cosmetics do not have the extracts of dead animals and are 100% cruelty-free. The high demand for Vegan Cosmetics is expected to lower animal cruelty cases as the low sales of non-vegan sales will stop the manufacturers from using animals in their manufacturing process. Vegan Cosmetics are highly preferred for sensitive skin types as they are composed of fewer ingredients than non-Vegan Cosmetics products.
The addition of extra components in cosmetics can develop rashes, dry skin, allergies, amongst others. Major cosmetics market players are trying to launch products that use natural ingredients that are mineral-based, or plant-based, as Vegan Cosmetics are in high demand among consumers owing to their superior properties.
Growing E-Commerce Industry Drives the Market Growth
Buying Vegan Cosmetics from retail retailers is a tedious task as it requires the consumer to check the ingredients used for making the Vegan Cosmetics constantly. The majority of the brands found at at the drugstore or retail retailers are still non-vegan, and they stock up a much smaller number of vegan products. Online retailers stock up a large number of products belonging to different products, and the product in demand can be easily obtained by scrolling through their online sales channel. Vegan cosmetic products are found at at lower rates than physically purchasing the products. Market players are making interactive and user-friendly websites and mobile applications to attract more customers.
The facility of doorstep delivery, easy exchange options, availability of cash-on-delivery, and cashless payment options are contributing to fuel their demand across the globe. The use of advanced technologies such as big data analytics, machine learning, and artificial intelligence to generate intelligent insights and create personalized shopping experiences for consumers is attracting more customers to buy online. The strong competition among the online market players makes them adopt customer-friendly measures and offer lucrative discounts to boost the sales of Vegan Cosmetics in the United States.
Increasing Consumer Awareness About Animal Cruelty Supports High Market Demand
The shift in consumer preference and the rapidly changing cosmetic trends as the majority of the consumers find cruelty towards animals unethical and wrong. The growing consumer awareness towards the misuse of animals in cosmetic testing and the awareness campaigns organized by the NGOs, support groups, and the market players are making the consumers shift to adopt Vegan Cosmetics for daily use.
Consumers prefer to purchase environment-viable cosmetic products, and the increasing popularity of naturally derived and safer cosmetic products is expected to influence market demand. The launch of plant-based and natural ingredients cosmetics in the manufacturing of cosmetics and the use of attractive packaging is expected to create lucrative opportunities for the United States Vegan Cosmetics market growth.
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Market Segmentation
The United States Vegan Cosmetic market is segmented on the basis of product type, distribution channel, regional distribution, and company. Based on the product type, the market is divided into skin care, hair care, makeup, and others. Based on the distribution channel, the market is divided into hypermarket/supermarket, specialty retailers, departmental retailers, online. To analyze the market based on the region, the United States Vegan Cosmetic market is studied in major regions namely Southern region, Western region, Mid-Western region, and North-Eastern region.
Market Players
Coty Inc., Billy Jealousy, Beauty Without Cruelty, Gabriel Cosmetics Inc., Pacifica Beauty LLC., Loreal SA (Urban Decay), e.l.f, Cosmetics Inc., Cosmax Usa Corporation, Emma Jean Cosmetics Inc., Yves Rocher Amérique du Nord Inc, are among the major market players in the United States that lead the market growth of the United States Vegan Cosmetic market.
| Attribute | Details |
| Base Year | 2020 |
| Historic Data | 2016 – 2019 |
| Estimated Year | 2021 |
| Forecast Period | 2022 – 2026 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2016-2020 and 2021-2026 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | - Product Type
- Distribution Channel
|
| Regional scope | South, West, Mid-West, North-East |
| Key companies profiled | Coty Inc., Billy Jealousy, Beauty Without Cruelty, Gabriel Cosmetics Inc., Pacifica Beauty LLC., Loreal SA (Urban Decay), e.l.f, Cosmetics Inc., Cosmax Usa Corporation, Emma Jean Cosmetics Inc., Yves Rocher Amérique du Nord Inc |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
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