Cruelty-Free Cosmetics Market size to garner significant returns by 2027
Market Scope
Market Research Future (MRFR) expects the cruelty-free cosmetics
market to touch USD 10 billion by 2027. The market size shall expand at a pace
of 6.0% from 2020 to 2027.
Major Drivers and Challenges
Consumers across the globe are growing aware about the impact left
by their buying habits on the environment and society. They are more conscious when
it comes to selecting cosmetics and the raw materials as well as the source
origin of these items. Numerous laws and acts are being passed to ensure that
brands do not carry out testing on animals. One such act is the Cruelty-Free
Cosmetics Act that was introduced by the Physicians Committee for Responsible
Medicine, a US-based non-profit research & advocacy organization. The law
was signed by the government of California, which made it unlawful for the brands
to sell cosmetics in the state that has been tested on animals, post January 1,
2020.
Since the COVID-19 outbreak, the eCommerce sector now has several
cruelty-free cosmetic products within the cosmetics segment. Ecommerce has become
quite indispensable to the cosmetics market, especially since the pandemic.
Physical stores are no longer the first choice of the consumers following the lockdown,
but the e-commerce sector has ensured steady sales worldwide.
Companies are progressively joining hands with celebrities to
endorse their products, while spending considerably on advertisements to garner
the consumers’ attention. Social media platforms like YouTube and Instagram are
emerging as major influencers, helping consumers grow aware about the benefits
of cruelty-free products.
Market Segmentation
The cruelty-free
cosmetics market can be considered for product type, form, and
distribution channel.
The product types listed are haircare products, skincare products,
perfume & fragrance, makeup & color cosmetics, and others. The lead has
been taken by the makeup & color cosmetics segment, and it is expected that
it will also procure the fastest growth rate in the years ahead.
Form-wise, the segments are gel, cream, powder, liquid, and
others.
The distribution channels are store-based as well as non-store-based.
Regional Study
The cruelty-free cosmetics industry has been geographically
divided with respect to Asia Pacific/APAC, Americas, Europe and rest of the
world or RoW.
The North American market has been performing tremendously and has
taken the lead among all the regions, thanks to the booming sales of cruelty-free
cosmetics in the US and Canada. The fast- emerging veganism trend has raised
the demand for products that have not been tested on animals. Many of the multinationals
in the region are focused on boosting their sales as well as distribution
channels for more product visibility and higher profit margins. Specialty
stores are quite popular in the region, given that these channels offer
consumers the ease of choosing from different products and eve compare between
the available brands. Stores like Bloomingdale are placing premium cruelty-free
cosmetics alongside their luxury clothing ranges. Moreover, departmental stores
and spas are bolstering their services to include cruelty-free cosmetics, which
should further enhance the market size over the ensuing years.
The European market should soar at a decent pace over the forecast
period, with consumers increasingly opting for natural and organic cosmetics. Presence
of strict laws imposed by the government, banning the practise of testing on
animals also pressure cosmetic brands to introduce cruelty-free products.
In the APAC market, Japan and China are experiencing stunning growth,
considering the high popularity of supermarkets and departmental stores selling
a variety of cruelty free, vegan cosmetic products. The cruelty-free cosmetics that
generate the highest demand in the region include skincare, color cosmetics, and
hair care.
Leading Contenders
Smashbox Beauty Cosmetics, Inc. (US), Kosé Corporation (Japan),
Aveda Corporation (US), Lush Group (UK), Urban Decay (L'Oréal S.A.) (US),
e.l.f. Cosmetics, Inc. (US), Natura (Brasil) International B.V. (Brazil), INIKA
Organic (Australia), PHB Ethical Beauty Ltd (UK), Kendo Holdings, Inc. (US),
Yes To, Inc. (US), Physicians Formula Holdings, Inc. (US), Avalon Natural
Products, Inc. (US), Plum Goodness (India), Too Faced Cosmetics, LLC (US), are
listed in the report as the leading brands in the cruelty-free cosmetics
industry.
Browse Full Report @ https://www.marketresearchfuture.com/reports/cruelty-free-cosmetics-market-3825
Latest News
March 2021
Hourglass Cosmetics, a cruelty-free luxury brand, has introduced Confession
Refillable Lipstick Red 0, a red shade of lipstick that contains vegan carmine.
The cruelty-free firm teamed up with Unilever, its parent company, for three
years to come up with carmine’s vegan alternative. Generally, carmine is created
by crushing the bodies of several cochineal beetles, requiring killing of close
to 70,000 bugs to make roughly one pound. However, Hourglass’ commitment to the
vegan trend compels the developers to find replacements for carmine, lanolin and
beeswax, without hurting any living organisms.
May 2021
TRESemmé is now a cruelty-free cosmetic brand, with the status attained
from PETA. It is now the 24th personal care and beauty brand of Unilever with
the cruelty-free status. From January 2022, the brand’s bottles will have PETA’s
certification of cruelty-free of its Beauty Without Bunnies Program.
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its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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