Cruelty-Free Cosmetics Market Research Report 2019 | Consumer Demand, Future trends, Innovation in Products, Technological Improvement by Global Insights Forecast 2023
Market Overview:
Cruelty-Free Cosmetics Market is segmented based on product-type, form, distribution channel and region. Based on the product-type, makeup & color cosmetics is found to be dominant holding a major market share. Amongst the various forms, cream is calculated to hold a major share owning to better packing leading to convenience usage of the product. Convenience and one stop purchase of the product has led to the increased sale of cruelty-free cosmetics through supermarkets and hypermarkets.
Global cruelty-free cosmetics market is projected to grow at a CAGR of 6.1% during the given forecast period. Increased trend of adoption of natural ad vegan lifestyle has a positive impact on the cruelty-free cosmetics market due to which it is found to gain its popularity. Increasing support for animal welfare globally has a positive impact on this market. Also, increase in disposable income and improved living standards of consumers, is found to influence the growth cruelty-free cosmetics market. Shift in consumer’s perception and high consumption of organic products has raised the sale of cruelty-free cosmetics.
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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major cruelty-free cosmetics market players. It further includes product portfolios, developments of leading major players which includes
- Kat Von D Beauty (U.S.)
- Beauty B (U.S.)
- PHB Ethical Beauty (U.K.)
- COVER FX Skin Care Inc. (Canada)
- INIKA Organic (Australia)
- Spectrum Collections (U.K.) and
- L’Oréal S.A. (France)
A shift in consumer’s preferences towards organic products due to government’s stringent regulations in various regions has influenced the growth of cruelty-free cosmetics in the market. Change in consumer’s perception and claim that animal testing is unethical and should be prohibited has increased the market share of cruelty-free cosmetics. Celebrities promoting vegan lifestyle and encouraging consumers to adopt the use of vegan personal care products is also driving the sale of vegan beauty products. Key players are following strategies of merger and acquisition of small players due to high demand across the globe.
The Global Cruelty-Free Cosmetics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe region has the major market share followed by Asia Pacific. Based on increasing beauty consciousness and high awareness among the consumers, cruelty-free cosmetics have gained popularity in various regions. U.S., China, U.K., Germany, and Singapore are considered the major importers of cruelty-free cosmetics.
Regional Analysis:
The global cruelty-free cosmetics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe holds a major market share followed by Asia Pacific region. Developing economy has resulted in changed consumer’s spending behavior leasing to increased demand for non-animal tested and no-animals ingredients products from the developed countries of regions contributing to the growth of cruelty-free cosmetics market. U.S., China, U.K., Germany, and Singapore are the major importers of cruelty-free cosmetics.
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Downstream Analysis:
Consumption of cruelty-free cosmetics is growing at a significant rate based on high consumers demand for products containing natural ingredients which need not be tested on animals and are non-allergic. As consumers are becoming more beauty conscious globally, cruelty-free makeup & color cosmetics tend to hold a major share in the market. Further, based on the form, cruelty-free cream dominates the segment based on easy application and high shelf-life of the product.
Sale of cruelty-free cosmetics through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience. In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of Cruelty-Free Cosmetics through e-commerce is found to escalate at a growth rate.
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