Global vegan lipstick market is expected to show robust growth with an impressive CAGR in the forecast period, 2024-2032 on the account of rapidly increasing demand for the herbal and vegan cosmetic products. The market is expected to register an esteemed growth in the upcoming five years on the background of consumer preferences. Due to recent pandemic situation due to widespread COVID-19 viral infection the consumers are highly inclined toward healthier and more environment friendly cosmetic products, thereby further driving the growth of the global vegan lipstick market in the upcoming five years. Consumers are also being aware of the animal-derived ingredient in the lipsticks and other cosmetic products is also anticipated to support the growth of the global vegan lipstick market in the next five years. Also, number of consumers for the certified vegan products is rapidly increasing and substantiating the growth of the global vegan lipstick market in the future five years. Additionally, social trends, and social media influences are also aiding the growth of the global vegan lipstick market in the forecast period. Manufacturing and finalizing of cosmetic products like lipsticks, etc. requires animal trials and animal derived ingredients too. Rising concerns over animal cruelty is also inclining the consumers toward vegan-lipstick thus supporting the growth of the global vegan lipstick market in the forecast years, until 2026.
The cosmetic industry is expanding globally, and then the demand for the herbal and vegan products is also supporting the industrial growth of the vegan cosmetic products. Recently social media posts, and online blogs are spreading the popularity about the chemical free, herbal, and organic products and thus supporting the growth of the vegan lipstick.
The global vegan lipstick market is segmented by product type, distribution channel, competitional landscape, and regional distribution. Based on product type, the market is further segmented into matte, gloss, others like sheer, crème, stain, etc. Matte vegan lipstick is anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of surging demand from the millennial consumers. Moreover, matte vegan lipstick is gaining popularity from the social media videos and makeup artists’ proportion is further driving the growth of the global vegan lipstick market in the next five years. Global market players like Loreal, Cosmax etc. are coming up with innovative product development and following the consumer demands further, thus driving the growth of the global vegan lipstick market in the future five years.
Holding the major shares of the global vegan lipstick market are Coty Inc., Brand Agency (London) Ltd., Beauty Without Cruelty, Total Beauty Network Pty Ltd (INIKA Organic), Gabriel Cosmetics Inc., Pacifica Beauty LLC., Loreal SA (Urban Decay), e.l.f, Cosmetics Inc., Cosmax Inc., Grupo Boticario, among others. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through vegan lipstick. Further advancement would aid the market value and brand establishment in the future five years.
Years considered for this report
Historical Years2016 – 2019
Base Year2020
Estimated Year2021
Forecast Period2022 – 2026
Objective of the Study
- To analyze the historical growth of the market size of global vegan lipstick market from 2016 to 2019.
- To estimate and forecast the market size of global vegan lipstick market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global vegan lipstick market based on product type, distribution channel, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global vegan lipstick market.
- To identify drivers and challenges for global vegan lipstick market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global vegan lipstick market.
- To identify and analyze the profile of leading players operating in global vegan lipstick market.
- To identify key sustainable strategies adopted by market players in global vegan lipstick market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the manufactures and service providers which could not be identified due to the limitations of secondary research. Market insights research analyzed the manufactures, distribution channels and presence of all major players across the country.
Market insights research calculated the market size of global vegan lipstick market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by Market insights research.
Key Target Audience
- Manufacturers, service providers, end users, and other stakeholders
- Distributors and suppliers of products & services and other stakeholders
- Organizations, forums, and alliances related to vegan lipstick
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, service providers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
