Cruelty-free cosmetics market will hit $14.23 billion by

New York, U.S., June 07, 2022 (GLOBE NEWSWIRE) — Cruelty-Free Cosmetics Market Overview:

According to a comprehensive research report by Market Research Future (MRFR),”cruelty-free cosmetics market Information by product type, form, distribution channel and region – Forecast to 2030the cruelty-free cosmetics market is expected to reach $14.23 billion by 2030 and register a decent CAGR of 4.56% from 2022 to 2030.

Market summary

Cruelty-free cosmetics enjoy tremendous demand given the huge preference for comedogenic products around the world. People are increasingly concerned about the ingredients in their skin care products and how these affect their skin. Therefore, the preference for cosmetics containing less toxic ingredients is increasing among consumers. Consumers constantly monitor the composition of cosmetics before buying them. Cruelty-free cosmetics do not contain any harmful chemicals, are mostly non-comedogenic, and are therefore widely used for skin care routines.

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Report Scope:

Report attribute Details
Market size 2030 $14.23 billion
CAGR 4.56% (2022-2030)
base year 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD million)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By product type, form, distribution channel and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Chief drivers produce more non-comedogenic cosmetics to meet consumer demand

Market Competitive Landscape:

Significant companies in the cruelty-free cosmetics market include

  • Kendo Holdings, Inc. (USA), Yes To, Inc. (USA)
  • PHB Ethical Beauty Ltd (UK)
  • Urban Decay (L’Oréal SA) (United States)
  • Plum goodness (India)
  • Kose Corporation (Japan)
  • Natura (Brazil) International BV (Brazil)
  • elf Cosmetics, Inc. (USA)
  • Avalon Natural Products, Inc. (USA)
  • INIKA Organic (Australia)

These companies are working to expand their operational capabilities in various countries. The major vendors focus on developing new products that meet all end user needs for a higher position in the market. Many companies adopt business strategies such as acquisitions, mergers, partnerships and collaborations for a better position in the global market.

Covered USP market:

Market factors:

Consumers are gradually becoming aware of the impact of their purchasing habits on the environment as well as on society. There is a great awareness as to which cosmetics to choose and the raw materials and original sources used to develop these items. A number of laws and acts have been passed around the world to ensure that companies do not test on animals. An example of such an act includes the Cruelty-Free Cosmetics Act, which was started by the Physicians Committee for Responsible Medicine, which is a nonprofit research and advocacy organization in the United States. This law was passed by the California government, prohibiting sellers from selling cosmetic products in the state that have been tested on animals.

Following the COVID-19 outbreak, the global e-commerce industry has been responsible for half of the total sales of cruelty-free cosmetics. E-commerce is now the most indispensable part of the cosmetics market, especially since the advent of the pandemic. Physical outlets are no longer the first choice for consumers, especially given the lockdown; the e-commerce industry has helped maintain stable sales all over the world.

Big brands partner with famous celebrities who endorse their cosmetic products and spend a lot on advertising to pique consumer interest. Social media platforms, including Facebook, Instagram, and YouTube, are among the top influencers, educating consumers about the various benefits of cruelty-free products.

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Market constraints:

A number of factors are restraining the growth of the market, including the difficulty faced by brands in sourcing organic ingredients to include in their products. Decreased availability of key raw chemicals poses challenges in operational work.

COVID 19 analysis

The COVID-19 outbreak and subsequent lockdown have had a drastic effect on the cosmetics industry, with manufacturing facilities temporarily shut down and passenger traffic reduced. Airlines are facing lost revenue as a result of the SARS-CoV-2 pandemic due to travel bans and the overall economic downturn around the world.

However, with the lifting of the containment and the focus on limiting the spread of the new coronavirus, players are now able to continue their activities and focus on strengthening their supply chains. This may mean a faster recovery for the cruelty-free cosmetics market in the coming period.

Market segmentation

By product type

The product types considered in the review study include perfumes and fragrances, hair care products, makeup and color cosmetics, skin care products, and more. The top spot belongs to the makeup and color cosmetics segment, and the segment can expect to reach the fastest CAGR in the coming years.

By form

The forms in which cruelty-free cosmetics are sold in the market include powder, gel, liquid, cream, and others. The cream-based category captured the largest share of the global market.

By distribution channel

Distribution channels covered are in-store and out-of-store. The Stores segment can be divided into convenience stores, specialty stores, supermarkets and hypermarkets, and others. Between these segments, the first distribution channel of the market is the in-store segment, with the highest revenues.

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Regional outlook

North America’s leadership position in the global market is cemented by rising sales of a variety of cruelty-free cosmetics in Canada as well as the United States. The growing trend towards veganism is increasing the preference for items that are not tested on animals. The majority of multinationals based in the region have focused on improving their sales as well as distribution channels for better product visibility and profit margins. Specialty stores enjoy great popularity in the region, as these channels provide consumers with the ease of choosing from various products and comparing brands. Stores such as Bloomingdale’s place high-end cruelty-free cosmetics alongside their luxury clothing lines.

Europe is expected to gain a high position in the global market in the coming years, due to the growing number of consumers preferring natural and organic cosmetics. The government’s implementation of rigid laws discouraging the practice of animal testing will put pressure on cosmetic brands to offer cruelty-free products.

The APAC market is dominated by Japan and China, where department stores and supermarkets are known to offer a variety of cruelty-free organic cosmetics.

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Donovan B. Sanford