The global vegan cosmetics market is booming but what does that mean, exactly?
We went in search of the numbers and we’re pleased to report there is a huge degree of optimism in the vegan cosmetics market and the global market is likely to stand at over $21 billion in 2025 with annual growth exceeding 5%.
The Global Vegan Cosmetics Market Size
In 2022, the estimated size of the vegan beauty products market is around $17 billion US dollars.
The total cosmetic products market is worth around $500 billion.
That means that at the moment less than 4% of the market comprises vegan products and that means vegan beauty has a lot of potential for growth in an environment of rising consumer awareness and increasing hostility to animal testing.
The US Market
Compared to vegan cosmetics worldwide, the US market is around $4.5 billion and that means that vegan cosmetic brands in the richest market in the world, comprise around 25% of global sales.
The demand for cruelty-free products in the North America market means that plant-based ingredients are increasingly popular and we’d expect to see long-term growth in this market.
China is the big surprise, given that vegan-certified beauty products were not allowed in the country until recently (cruelty-free is impossible if the law says all products in the distribution channel must be tested on animals).
However, the jewel of the Asia Pacific market is expected to see $3 billion in sales in 2022. That’s nearly 18% of the global market and the demand for non-animal tested cosmetics is booming there.
We’d expect to see huge growth in Asia Pacific as a region too – with consumers in regional markets becoming much more aware of vegan makeup products and vegan skincare.
The Fastest Growing Vegan Sector
Cosmetics is the big boom sector and nearly 80% of all products in the UK launched with vegan ingredients are now personal care products.
In Germany and the US, they’re lagging behind the UK but nearly half the market of new vegan products is cosmetics in each country.
The Fastest Growing Cosmetics Sector For Vegans
Skincare is where things are really growing and the latest trends suggest that skincare will see a growth of around 5.6%, the hair care segment of about 5.1%, and then makeup at around 4.6%
Amazingly, vegan skincare accounts for 1 in 3 products sold in the cosmetics market, whereas makeup accounts for only 1 in 8 product sales.
A Growing Consumer Demand For Vegan Cosmetics
Companies in the vegan beauty sector are reporting huge consumer-driven interest in vegan cosmetics.
The British retailer, Superdrug, saw a boost of over 750% in demand for vegan products during Veganuary in 2019!
The Global New Products Database operated by Mintel has seen vegan product launches double in the five years between 2013 and 2018.
Legal Assistance For Vegan Cosmetics
On March 1st, 2022, New Jersey became the seventh state in the United States to ban animal testing of beauty products. The Vegan Society is thought to be responsible for some of the changing attitudes in the United States. And other states are set to follow, including New York.
Mexico enacted a blanket ban on animal testing for the beauty category and 41 countries in the Eurozone have done similar. Brazil has 10 states with a ban on testing too.
A Price-Premium Marketplace
From vegan shampoos to clean beauty products to vegan shaving foam, there’s no doubt that this segment currently commands a significant price premium in a competitive landscape.
It’s also worth noting that vegans often come from higher consumer demographics with more disposable income too.
Animal Welfare Matters
Most of all consumers seem to be asserting that animal welfare matters to them. Other considerations such as sustainability and cleaner, healthier choices are important to consumers but first and foremost they seem to be rejecting the idea that it’s OK for animals to suffer consequences for their beauty choices.
Beauty without cruelty is the driving force of recent developments in the vegan market.
Consumer Sentiment To Animal Derived Ingredients
Consumers are now using specialty stores and online sales channels to not just remove testing from their products but also animal ingredients.
With nearly 70% of Americans saying they would prefer to use vegan products.
How Much Do People Spend On Vegan Cosmetics Annually?
Incredibly each consumer tends to spend about $200 a year on cosmetic items like this. That’s a huge market ripe for the taking by ethical, vegan companies.
There’s no doubt about it, the statistics show that the vegan cosmetic segment is booming and is likely to continue to grow for years to come.
The world is changing for the better and consumers are rejecting the old cruel industry of beauty for something new and kinder to themselves, animals, and the planet.