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Vegan Cosmetics and Personal Care Ingredients Market Trends

  • Report ID: GMI11506
  • Published Date: Sep 2024
  • Report Format: PDF

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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global vegan cosmetics and personal care ingredients market was valued at around USD 10.07 billion in 2023 and is expected to record a CAGR of over 7% between 2024 and 2032, due to growing consumer demand for skincare solutions, alongside inclination for ingredient transparency and ethical practices.

Plant-based oils and butters segment accounted for USD 3.16 billion in 2023 and is expected to reach USD 5.88 billion in 2032, due to their superior moisturizing, nourishing, and restorative properties.

Europe market generated a revenue of USD 3.55 billion in 2023 and will continue to grow through 2032, due to its strong emphasis on sustainability, ethical consumerism, and stringent regulatory standards.

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

Vegan Cosmetics and Personal Care Ingredients Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 532
  • Countries covered: 22
  • Pages: 220
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