Increasing preference for vegan products from consumers
With rising awareness about the negative impacts of animal-derived products, the demand for vegan products, including vegan cosmetics has also increased. Moreover, vegan cosmetics are manufactured from natural or plant-based ingredients which are beneficial for the skin.
Vegan cosmetics improve skin health and reduce the chances of acne, dark circles, and other skin abnormalities. Hence, the preference for vegan products is rising among consumers which, in turn, is fueling the growth of the vegan cosmetics market at a CAGR of over 6% during the forecast period.
Growth of e-commerce market
Factors such as increasing internet penetration, technological advancements, rising adoption of smartphones, and growth of social media have boosted the growth prospects of the e-commerce market. This rapid growth of the e-commerce market has encouraged vegan cosmetics market vendors to offer their products through online distribution channels.
Market vendors are leveraging information and communication technology, artificial intelligence, and other modern technologies and collaborating with major online retailers to boost their online sales. The increasing preference for online shopping will boost the growth of the e-commerce market and have a positive impact on the vegan cosmetics market growth.
This report looks at factors such as the growth of the cosmetic industry, increasing preference for vegan products from consumers, and promotional and marketing strategies employed by vegan cosmetics vendors. However, the negative impact of vegan cosmetics on humans and animals, stringent guidelines for obtaining vegan certification, and challenges in formulating cosmetics with natural ingredients may hamper the growth of the vegan cosmetics industry over the forecast period.
This global vegan cosmetics market analysis considers the revenue generated from sales through offline and online distribution channels. The analysis also considers the growth of the vegan cosmetics market in APAC, Europe, MEA, North America, and South America.
In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as availability of product demonstrations will play a significant role in the offline segment to maintain its market position.
With the presence of several players, the global vegan cosmetics market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several vegan cosmetics companies that include:
- e.l.f. Beauty
- Estee Lauder
- Lush Retail
- Natura & Co
Also, the vegan cosmetics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Key Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Comparison by distribution channel
- Offline - Market size and forecast 2018-2023
- Online - Market size and forecast 2018-2023
- Market opportunity by distribution channel
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic comparison
- Europe - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
- Increase in strategic acquisitions and investments
- Introduction of new vegan cosmetic products
- Growth of e-commerce market
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Debenhams PLC
- e.l.f. Beauty Inc.
- Estee Lauder Co. Inc.
- L'Oreal S.A.
- Lush Retail Ltd.
- Natura & Co
For more information about this report visit https://www.researchandmarkets.com/r/isrnp0