Vegan Cosmetics and Personal Care Ingredients Market - By Ingredients, By Product, By End-use, By Distribution Channel & Forecast, 2024 – 2032

Vegan Cosmetics and Personal Care Ingredients Market Size

Global vegan cosmetics and personal care ingredients market was valued at around USD 10.07 billion in 2023 and is expected to grow at a CAGR of over 7% between 2024 and 2032.
 

Plant-Based Oils and Butters are widely used in vegan cosmetics and personal care products due to their natural moisturizing, nourishing, and healing properties. Ingredients like jojoba oil, coconut oil, and shea butter are rich in essential fatty acids, vitamins, and antioxidants, which help in hydrating the skin, improving elasticity, and providing a smooth texture without clogging pores. These oils and butters are also free from synthetic chemicals, making them ideal for consumers seeking clean, cruelty-free, and environmentally friendly products.
 

In 2021, the global skincare products market was valued at USD 145.3 billion, highlighting its significant economic footprint. This robust market underscores the growing consumer demand for skincare solutions, which is increasingly shifting towards vegan cosmetics and personal care ingredients. As consumers become more conscious of ingredient transparency and ethical practices, the vegan segment within this market is experiencing rapid growth. Plant-based oils, butters, and other vegan ingredients are gaining popularity due to their natural benefits and sustainable sourcing. The expanding interest in clean beauty aligns with the broader skincare market trends, driving innovation and market expansion in vegan skincare products. This alignment reflects a broader movement towards holistic, cruelty-free, and environmentally friendly personal care solutions.
 

The higher cost of plant-based ingredients is a significant restraint in the vegan cosmetics and personal care ingredients industry. These natural components often require more complex sourcing and processing compared to synthetic alternatives, leading to increased production costs. This price disparity can result in higher retail prices for vegan products, potentially limiting their accessibility to price-sensitive consumers. As a result, the higher cost can constrain market growth by affecting affordability and consumer adoption. Despite the premium quality and ethical appeal, the financial impact of these ingredients poses a challenge for widespread market penetration.
 

Vegan Cosmetics and Personal Care Ingredients Market Trends

The rising popularity of natural and organic ingredients is a key driver in the market. Consumers are increasingly seeking products that align with their values of health and environmental sustainability, favoring items free from synthetic chemicals and animal-derived components. This shift towards natural and organic ingredients reflects a broader trend towards clean beauty and personal care, where transparency and ethical sourcing are paramount. The demand for such ingredients is fueling innovation and growth in the vegan segment, as brands strive to meet consumer preferences with effective, plant-based solutions. The emphasis on natural formulations enhances product appeal and market competitiveness, driving more companies to adopt vegan and organic practices. As awareness and demand continue to rise, this trend propels the expansion of the market, making it a crucial factor in shaping the future of vegan cosmetics and personal care.
 

The expansion of e-commerce and online retail platforms is a significant driver in the vegan cosmetics and personal care ingredients market. As digital shopping continues to grow, consumers have unprecedented access to a wide variety of vegan products from global brands and niche providers. Online platforms facilitate easier comparison of products, reading of reviews, and access to detailed ingredient information, which aligns with the increasing consumer demand for transparency and ethical sourcing. E-commerce allows vegan brands to reach a broader audience without the geographical limitations of physical stores, enabling them to tap into new markets and demographics. Additionally, online retailers often offer exclusive products and promotions that attract consumers seeking unique and high-quality vegan options. This digital expansion supports market growth by enhancing visibility, accessibility, and convenience, making it a pivotal factor in driving the adoption and success of vegan cosmetics and personal care products.
 

Vegan Cosmetics and Personal Care Ingredients Market Analysis

Based on ingredients, the market is divided into plant-based oils and butters, plant extracts and botanical ingredients, vegan emulsifiers and stabilizers, mineral-based ingredients, vegan proteins and others. Plant-based oils and butters held the dominant market value of USD 3.16 billion in 2023 and expected to reach USD 5.88 billion by 2032. Plant-based oils and butters dominate the vegan cosmetics and personal care ingredients industry due to their superior moisturizing, nourishing, and restorative properties. They offer natural hydration and skin benefits without synthetic additives, aligning with the growing consumer demand for clean and ethical products. Their versatility and effectiveness in formulations make them a preferred choice for enhancing product quality and efficacy. Additionally, these ingredients resonate with the sustainable and cruelty-free values driving the vegan market.
 

Based on product, the market is categorized into skincare, haircare, makeup, fragrances and others. Skincare accounted for 41% market share in 2023 and is projected to grow significantly till 2032. Skincare dominates the vegan cosmetics and personal care ingredients market due to its essential role in daily beauty routines and its strong consumer focus on health and wellness. Products like moisturizers, serums, and cleansers address fundamental skincare needs, making them high-demand items. The emphasis on natural and ethical ingredients aligns perfectly with the vegan movement, which prioritizes cruelty-free and environmentally friendly solutions. Additionally, skincare benefits from continuous innovation and formulation improvements, attracting consumers seeking effective and sustainable options. This sector's dominance reflects both its critical importance in personal care and the growing trend towards clean and vegan beauty products.
 

Based on price point, the market is categorized into premium and economics. Premium accounted for 60% market share in 2023 and is projected to grow significantly till 2032. The premium segment dominates the market due to its focus on high-quality, ethically sourced ingredients and advanced formulations. Consumers willing to invest in premium products are drawn to the enhanced efficacy, luxurious textures, and superior benefits offered by these items. Premium products often feature rare plant-based ingredients and cutting-edge technologies, which align with the growing demand for exclusivity and high performance. Additionally, the premium segment caters to consumers' increasing willingness to spend more on sustainable and cruelty-free options, reinforcing its leading position in the market.
 

Based on end-use, the market is categorized into individual use, beauty salons, spa centers and others. Individual use accounted for 66% market share in 2023 and is projected to grow significantly up to 2032. Individual use dominates the vegan cosmetics and personal care ingredients market due to the high volume of personal care products purchased for daily routines. Consumers are increasingly seeking vegan options for their personal skincare, haircare, and hygiene needs, driving demand for these products on an individual level. The widespread availability of vegan products for personal use reflects a growing consumer preference for ethical and natural ingredients in everyday items. Additionally, the ability of individual consumers to directly influence market trends through purchasing behavior reinforces the dominance of this segment. This widespread adoption underscores the increasing emphasis on personal care choices aligned with values of sustainability and cruelty-free practices.
 

Based on distribution channel, the market is categorized into online retail, supermarkets/hypermarkets, specialty stores, pharmacies/drugstores, convenience stores and others. Online retail accounted for 36% market share in 2023 and is projected to grow significantly till 2032. Online retail dominates the vegan cosmetics and personal care ingredients industry due to its broad reach and convenience, allowing consumers to easily access a wide range of products from anywhere. E-commerce platforms offer extensive product information, customer reviews, and detailed ingredient lists, which align with the growing consumer demand for transparency and informed purchasing decisions. The ability to compare products, find niche vegan brands, and enjoy direct-to-door delivery further enhances the appeal of online shopping. Additionally, online retail supports the growth of vegan products by providing a platform for new and emerging brands to reach a global audience, driving the market's expansion.
 

Europe dominated the global vegan cosmetics and personal care ingredients market in 2023. It generated a revenue of USD 3.55 billion in 2023. Europe dominates the market due to its strong emphasis on sustainability, ethical consumerism, and stringent regulatory standards. The region has a well-established market for natural and organic products, with consumers increasingly prioritizing cruelty-free and environmentally friendly options. Europe’s regulatory frameworks support and promote the use of vegan ingredients, creating a conducive environment for market growth. Additionally, high levels of consumer awareness and demand for innovative, high-quality products drive the dominance of vegan cosmetics in this region.
 

In Western Europe, countries like Germany and France lead the market with robust demand for vegan cosmetics, driven by strong consumer advocacy for ethical practices and environmental sustainability. The UK also plays a significant role, with increasing awareness and a growing preference for vegan and cruelty-free products. In Northern Europe, Scandinavian countries such as Sweden and Denmark are notable for their high standards of eco-friendliness and support for vegan products. Southern European countries, including Italy and Spain, are seeing rising interest in vegan cosmetics as part of broader trends towards natural and ethical beauty solutions.
 

Vegan Cosmetics and Personal Care Ingredients Market Share

Ashland, BASF SE, Croda International Plc, Dow Inc., Eastman Chemical Company collectively dominate the market with their extensive industry experience, innovative product offerings, and widespread global presence.
 

Ashland specializes in innovative ingredient solutions for cosmetics and personal care products, including those that align with vegan and sustainable principles. The company's portfolio includes plant-based emulsifiers and natural polymers, which are crucial for formulating vegan-friendly products. Ashland’s commitment to sustainability and ethical practices supports the growing demand for vegan cosmetics and personal care ingredients. BASF SE is a global leader in chemicals and materials, offering a range of vegan and natural ingredients for the cosmetics and personal care industry. Their portfolio includes plant-derived actives and sustainable solutions that cater to the growing consumer preference for ethical and cruelty-free products. BASF’s advancements in green chemistry align with the market trend towards vegan and environmentally friendly personal care solutions.
 

Croda International Plc provides high-performance, sustainable ingredients for the cosmetics and personal care sectors, including vegan formulations. Their focus on plant-based and eco-friendly ingredients supports the demand for cruelty-free and ethical products. Croda’s innovation in natural and renewable raw materials makes it a key player in the vegan cosmetics and personal care ingredients industry. Dow Inc. offers a range of ingredients and technologies that support the development of vegan cosmetics and personal care products. Their portfolio includes bio-based and sustainable raw materials that meet the rising consumer demand for vegan and cruelty-free options. Dow’s commitment to innovation in sustainable chemistry plays a crucial role in advancing the vegan personal care market. Eastman Chemical Company provides a variety of ingredients used in vegan cosmetics and personal care products, focusing on sustainability and ethical sourcing. Their offerings include bio-based polymers and other eco-friendly materials that align with the growing trend towards vegan and natural personal care solutions. Eastman’s dedication to reducing environmental impact supports the expansion of the vegan cosmetics market.
 

These market leaders collectively shape the competitive landscape of the vegan cosmetics and personal care ingredients industry, driving innovation, setting industry standards, and meeting the evolving demands of customers worldwide. With their focus on research and development, technological advancements, and strategic partnerships, these companies continue to expand their market share and strengthen their foothold in key regions. Their relentless pursuit of excellence, coupled with their customer-centric approach, positions them as preferred suppliers of vegan cosmetics and personal care ingredients, contributing significantly to the growth and development of the global construction industry.
 

Vegan Cosmetics and Personal Care Ingredients Market Companies

Major players operating in the industry include:

• Ashland
• BASF SE
• Croda International Plc
• Dow Inc.
• Eastman Chemical Company
• Evonik Industries AG
• Givaudan SA
• Lonza Group Ltd.
• Solvay SA
• Symrise AG
   

Vegan Cosmetics and Personal Care Ingredients Industry News

• In July 2020, BASF SE and Isobionics (Netherlands) launched a joint product IsobionicsSanta lol. It is manufactured from a renewable resource. The product is an alternative to sandalwood oil.
   
• In June 2020, BASF SE partnered with BTC Europe to distribute its care creation portfolio. This brings the whole portfolio in one place for the time, increasing efficiency and simplifying the supply chain for personal care customers.
   

The vegan cosmetics and personal care ingredients market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Ingredients

• Plant-Based Oils and Butters
• Plant Extracts and Botanical Ingredients
• Vegan Emulsifiers and Stabilizers
• Mineral-Based Ingredients
• Vegan Proteins
• Others

Market, By Product

• Skincare
• Haircare
• Makeup
• Fragrances
• Others

Market, By Price Point

• Premium
• Economic

Market, By End-use

• Individual Use
• Beauty Salons
• Spa Centers
• Others

Market, By Distribution Channel

• Online Retail
• Supermarkets/Hypermarkets
• Specialty Stores
• Pharmacies/Drugstores
• Convenience Stores
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA