Europe Vegan Cosmetics Market: Industry Analysis and Forecast (2024-2030)

Europe Vegan Cosmetics Market Definition:

Vegan cosmetics are environmentally friendly and biodegradable products. Currently, a lot of cosmetics firms are concentrating on creating cruelty-free, vegan cosmetics rather than only using animal testing on their products. Cosmetics using plant-based ingredients are known as vegan cosmetics. Because they are produced from animals, substances including honey, beeswax, carmine, cholesterol, gelatin, lanolin, collagen, albumen, and many more are not permitted in vegan cosmetics. The absence of chemicals and animal ingredients in goods designed for those with sensitive skin.

Further, the Europe Vegan Cosmetics market is segmented by Products, Distribution channels, and geography. On the basis of Products, the Europe Vegan Cosmetics market is segmented under Skin Care, Hair Care, and Make-up & Others. Based on the Distribution Channel, the market is segmented under E-commerce, Hypermarket/Supermarket, Departmental Stores, and Speciality Stores & Others. By geography, the market covers the major countries in Europe i.e., Italy, Germany, United Kingdom, Russia, France, and the Rest of Europe For each segment, the market sizing and forecasts have been done on the basis of value in USD Billion.

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Europe Vegan Cosmetics Market Dynamics:

Consumers are increasingly looking for plant-based and cruelty-free goods, including cosmetics and personal care items. Through the forecast period, this is estimated to generate a lot of opportunities for the producers of vegan beauty products.

Due to safety concerns, consumers are showing a notable aversion to beauty products that include chemicals and are drawn to those that are marketed as "natural" and "safe." Throughout the forecast period, this is expected to further encourage the use of vegan beauty products.

The raw materials used and the associated source origin are now more carefully noted by modern consumers when making product purchases. Customers are choosing eco-friendly products when they feel the effects of their careless purchasing. This is creating favorable conditions for the increasing use of vegan cosmetic products.

A major barrier to the wide use of vegan beauty products is the shorter life span of vegan products compared to synthetic ones.

Europe Vegan Cosmetics Market Segment Analysis:

By Distribution Channel, The Europe Vegan Cosmetics Market is segmented based on Distribution Channel, the Europe Vegan Cosmetics market is segmented under E-commerce, Hypermarket/Supermarket, Departmental Stores, Speciality Stores, & Others. E-commerce has dominated the market in 2023 with over 51% share and is expected to continue dominating the market in the forecasted year. The E-commerce segment dominated the market because Target marketing and increasing consumer internet use are driving this segment's growth. Additionally, the growth of online marketplaces around the world, particularly since the pandemic, has boosted the product's sales. For instance, Blanka, an online store where companies can promote their line of vegan cosmetics, is assisting in the growth of the business. Additionally, the fashion e-commerce retailer Boohoo recently introduced nearly 50 vegan cosmetics products on its website.

Europe Vegan Cosmetics Market Regional Insights:

Geographically, the United Kingdom dominates the Europe Vegan Cosmetics market with a market share of more than xx%. The country is expected to be the largest market for Vegan Cosmetics in Europe, owing in recent years, the rising consumer awareness of the harmful effects of particular chemicals like paraben and aluminium compounds found in skincare, hair care, and deodorants in this region, as well as the rising demand for natural and organic products. The demand for safe, organic, and natural products, as well as the benefits of vegan cosmetics like long-lasting protection and clinical properties, have led to a significant increase in sales of vegan brand beauty products in just the United Kingdom over the past few years. Demand for vegan cosmetics is expected to increase as a result of consumer trends toward veganism, particularly in developed nations like the U.K., France, and Germany. Additionally, in 2023, the beauty sector will account for almost 82 % of all vegan products released in the U.K. Additionally, 97 % of British consumers were found to be looking for more vegan-certified cosmetics and personal care items in 2023, according to The Vegan Society.

Europe Vegan Cosmetics Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

The objective of the report is to present a comprehensive analysis of the Europe Vegan Cosmetics market to the stakeholders in the industry. The report provides trends that are most dominant in the Europe Vegan Cosmetics market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Vegan Cosmetics Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the Europe Vegan Cosmetics market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Europe Vegan Cosmetics market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Europe Vegan Cosmetics market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Europe Vegan Cosmetics market. The report also analyses if the Europe Vegan Cosmetics market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Europe Vegan Cosmetics market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Europe Vegan Cosmetics market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Europe Vegan Cosmetics market is aided by legal factors.

Europe Vegan Cosmetics Market Scope:

 Europe Vegan Cosmetics Market Key Players:

• Unilever plc (UK)
• PHB Ethical Beauty Ltd (UK)
• L'Oréal S.A.(France)
• Ecco Bella (US)
• Billy Jealousy (US)
• Modern Minerals Makeup(US)
• Natura (Brazil)
• International B.V. (Brazil)
• INIKA Organic (Australia)
• Avalon Natural Products Inc. (US)
• Kendo Holdings Inc. (US)
• Yes To Inc. (US)
• Amway Corporation (US)