The Global Vegan Cosmetics Market research report aims to provide an unbiased and a comprehensive outlook of the Global market to the readers. Analysts have studied the key trends defining the trajectory of the market. The research report also includes an assessment of the achievements made by the players in the Vegan Cosmetics Market so far. It also notes the key trends in the market that are likely to be lucrative.
The global vegan cosmetics market is expected to register a CAGR of 7.1% during the forecast period, 2018 to 2023.
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The overall cosmetics industry is highly competitive in nature and requires continuous innovation and development especially in the vegan cosmetics products. Rising environmental awareness has encouraged several key players to avoid practice of animal derived raw materials by developing natural ingredients that are identical and overtake performances of conventional resources. Growing research and development activities in the field is expected to aid the market growth across the globe.
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Jul 2018: Cruelty-free and vegan makeup brand Milk Makeup has expanded its popular CBD-infused Kush collection to include brow gel. The new product is available in four shades, ranging from clear to dark.
Jun 2018: ColourPop has launched a new line of foundation that caters to a diverse spectrum of complexions. Called No Filter Foundation, the line features 42 shades intended to match all skin tones and an oil-free formula that provides a natural, matte finish and long-lasting wear.
Popularity of Cruelty Free Cosmetics to Drive the Vegan Cosmetics Market Growth
Increasing preference for animal free products, along with rising popularity of environment sustainable products, is driving the demand for vegan cosmetics products. Growing demand for chemical-free hair and skin products along with growing awareness about cruelty free cosmetics products is supporting the market growth from last few years. Additionally, naturally-derived products helps to reduce pollution and dependence on petroleum based cosmetics products. Significant rise in influence of social media and beauty blogs that are communicating the benefits vegan cosmetics is likely to influence sales of vegan cosmetics products. Moreover, introduction of several regulations from government authorities is playing key role to drive the market growth of vegan cosmetics. For instance, in 2016, The Personal Care Products Safety Act, proposed by Senator Dianne Feinstein and Senator Susan Collins, would give the FDA the authority to regulate the safety of beauty products.
Skin Care Vegan Products to Witness Fastest Growth during the Forecast Period
Key players across the globe are focusing more on innovation in cosmetics products which contains plant based ingredients rather than animal based ingredients which is likely to support the growth of the market. Growing awareness about beneficial properties and characteristics of vegan cosmetics products such as soothing skin and healing aliments is attracting consumers to buy vegan cosmetics products. Though the ban on cruelty-free cosmetics and cosmetic animal testing still contain animal-derived products such as beeswax, carmine, and in some skin care products, honey. However, the demand for organic personal care products is likely to support vegan cosmetics market growth in the upcoming years. The vegan hair care cosmetics products are witnessing significant growth especially in products such as shampoos & conditioners which is expected to fuel market growth.
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Influence of the Vegan Cosmetics market report:
- Comprehensive assessment of all opportunities and risk in the Vegan Cosmetics market.
- Vegan Cosmetics market recent innovations and major events.
- Detailed study of business strategies for growth of the Vegan Cosmetics market-leading players.
- Conclusive study about the growth plot of Vegan Cosmetics market for forthcoming years.
- In-depth understanding of Vegan Cosmetics market-particular drivers, constraints and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Vegan Cosmetics market.
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