With the growing count of vegan population, different companies from the beauty products arena are encouraged to shift to vegan beauty trends. Although in the start it was considered as a hollow concept, but vegan beauty has slowly entered the mainstream market with rising consumer interest across primary sustainable lifestyles. Fact.MR has smartly analyzed the overall market for vegan beauty products, with a purpose to draw useful conclusions for investors, capitalists and new entrants. This assessment is titled “Vegan Beauty Products Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018 to 2028”, which focuses on the essential market facets such as market size, revenue share, regional expanse, market dynamics and value chain analysis.
This intelligent report highlights the importance of ethical consumerism which is giving way to a massive transition towards cruelty-free products that doesn’t include any animal derivatives or supports animal testing. All such factors are expected to motivate the vegan beauty products market through 2028. According to research specifics, sales of vegan beauty products are projected to surpass US$ 3,500 Mn in 2019, increased from US$ 3,352 Mn in 2018. Furthermore, gains of vegan beauty products market is additionally reinforced by several factors, including propagation of veganism in beauty & cosmetics space, rising demand for natural beauty products, and a lot more.
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Skin Care Vegan Beauty Products Expected to Showcase Major Upswing
This report highpoints the growing popularity of vegan beauty products for skin care which are likely to experience imposing sales in 2019 and beyond. Interestingly, it is projected that the global sales might actually exceed US$ 1000 Mn in 2019. For an effective personal grooming routine, skin care products are marked as the key requisites; hence, the demand for vegan beauty products for skin care would continue to observe a steady rise. Different product types, including creams & lotions, cleansers & toners and scrub exfoliators, will charm a larger section of global population who are willingly ready to pay premium prices for such refined skin care products.
Awareness towards Environment-Friendly Products Encouraging Market Growth
Talking about modern consumers, while making product purchases they have grown more particular about raw materials involved along with associated source origin. Recognizing the outcome of their irresponsible purchases, numerous consumers are thereby choosing environmentally-responsible products. Hence, this preference has led to favorable circumstances for large scale acceptance of vegan beauty products.
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Consumers Opt for CBD-Infused Vegan Beauty Products for ‘Feel Good’ Factor
As per this report study, demand for CBD-infused vegan beauty products is pacing on an ever-increasing path, since cannabidiol (CBD) is being acknowledged for addressing several concerns such as insomnia and anxiety. Based on certain studies, CBD is also known to curb the growth of cancer cells, thus nurturing its popularity across the wellness community.
The final section of the report is dedicated to discourse the major players operating in the vegan beauty products market. Some of the leading companies mentioned in the report are L’Oréal Group, O Boticário, Pacifica Beauty LLC, Arbonne, Huda Beauty, ELF Cosmetics, Gabriel Cosmetics, Inc. and Gemdo Cosmetics.