Cruelty Free Cosmetics Market to Grow with a CAGR of 5.8% Globally through 2028
Rising consumer awareness and shift in consumer
preferences are driving the Global Cruelty Free Cosmetics Market in the
forecast period 2024-2028.
According to TechSci Research report, “Global Cruelty
Free Cosmetics Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Cruelty Free Cosmetics Market stood
at USD 8.29 Billion in 2022 and is anticipated to grow with a CAGR of 5.8% in
the forecast period, 2024-2028. The global cruelty-free cosmetics market has
experienced remarkable growth in recent years, reflecting changing consumer
preferences and increasing awareness of ethical and sustainable beauty
products. This market includes a wide range of cosmetic and personal care
items, from makeup to skincare, that are not tested on animals. Several key
factors contribute to the growth and significance of the global cruelty-free
cosmetics market.
The major driver of this market is the shifting
consumer mindset. There is a growing awareness and ethical concern regarding
animal welfare, as consumers become more socially conscious. This increasing
awareness has resulted in a surge in demand for cruelty-free cosmetics. People
are making informed choices, opting for brands that align with their ethical
values. The cruelty-free cosmetics market has witnessed a rise in ethical
consumerism, where shoppers prioritize products that are not tested on animals and,
in many cases, are free from animal-derived ingredients.
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Free Cosmetics Market”
Another driving force behind the global cruelty-free
cosmetics market is the shift in consumer preferences. Traditional beauty
brands are under pressure to adapt to this change. As consumers increasingly
value ethical, sustainable, and eco-friendly products, they are turning away
from brands that engage in animal testing. This transformation has compelled
established companies to reevaluate their practices and invest in cruelty-free
alternatives to meet consumer demand. Simultaneously, this shift has opened the
door for the emergence of a new generation of cosmetics brands that are founded
on cruelty-free and ethical principles.
In addition, stringent regulations in various regions
have led to bans and restrictions on animal testing for cosmetics. For example,
the European Union has prohibited animal testing for cosmetic products. These
regulations have pushed companies to adopt cruelty-free testing methods,
further propelling the market's growth. Brands are increasingly formulating
their products without animal testing to access these markets. As a result,
there is a regulatory push for cruelty-free cosmetics, creating an environment
where brands must comply with such standards to gain market access.
Moreover, celebrities and influencers play a
significant role in promoting cruelty-free cosmetics. They influence consumer
choices through their endorsements and advocacy for ethical beauty products.
The power of celebrity endorsement and social media influence has propelled the
popularity of cruelty-free cosmetics, encouraging consumers to opt for these
products. Celebrities and influencers are using their platforms to advocate for
products that align with their values, including ethical and sustainable beauty
choices.
Lastly, technological advancements and innovation in
testing methods have revolutionized the cruelty-free cosmetics market. Brands
and researchers are investing in alternative testing techniques that eliminate
the need for animal testing while ensuring the safety and efficacy of their
products. These technological advancements are not only meeting the ethical
demands of consumers but also enhancing the quality and safety of products.
This innovation has allowed cruelty-free cosmetics to compete effectively with
traditional cosmetics, offering products that are not only ethically produced
but also of high quality and performance.
In conclusion, the global cruelty-free cosmetics
market has seen remarkable growth, driven by consumer awareness, changing
preferences, regulatory changes, celebrity endorsements, and innovative testing
methods. As the industry continues to evolve, it is expected that the global
cruelty-free cosmetics market will continue to thrive, offering consumers a
wide range of ethical and sustainable beauty options that align with their
values and preferences.
The Global Cruelty Free Cosmetics Market is segmented
into product type, form, sales channel, regional distribution, and company.
Based on product type the market is segmented into skincare
products, haircare products, color cosmetics, perfume, others.
Based on form the market is segmented into cream, gel,
liquid, powder, and others.
The
global cruelty-free cosmetics market has witnessed a substantial surge in
demand for skincare products. This heightened demand can be attributed to the
growing consumer preference for ethical and sustainable beauty products that
not only cater to their skincare needs but also align with their values.
Increasing awareness of the adverse effects of harsh chemicals and animal
testing in traditional skincare items has led consumers to seek cruelty-free
alternatives. Brands are responding by developing innovative, animal-friendly
skincare solutions that are not only effective but also in harmony with the
growing ethical consciousness of consumers.
Based on sales channel the market is segmented into hypermarkets/supermarkets,
retail stores, beauty salon, online, others.
Based on region the market is segmented into five
regions, North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
Major companies operating in Global Cruelty Free
Cosmetics Market are:
- L'Oréal S.A
- PHB Ethical Beauty Ltd
- Kosé Corporation
- Plum Goodness
- e.l.f. Cosmetics, Inc.
- Natura (Brasil) International B.V.
- INIKA Organic
- Avalon Natural Products, Inc.
- Kendo Holdings, Inc.
- Yes To, Inc.
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“Customization and personalization in products is a
significant trend that is expected to have an impact on growth over the
forecasted period. Rising consumer awareness, establishment of regulatory
standards and certifications and increasing demand for cruelty-free and ethical
sourcing products will positively impact the Global Cruelty Free Cosmetics
Market. Due to the wide range of products available to meet specific needs of,
as well as the growing popularity of the online sales channel, the market is
growing at impressive rate through projected period,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Cruelty
Free Cosmetics Market– Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Product Type (Skincare Products, Haircare Products,
Color Cosmetics, Perfume, Others), By Form (Cream, Gel, Liquid, Powder,
Others), By Sales Channel (Hypermarkets/Supermarkets, Retail Stores, Beauty
Salon, Online, Others), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Cruelty Free Cosmetics Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Cruelty Free Cosmetics Market.
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