Cruetly-Free Cosmetics Market projected to reach USD 12.4 Billion by 2030, growing at a CAGR of 6.3% during the forecast period of 2023-2030 – a comprehensive study by MarketDigits
The Global Cruetly-Free Cosmetics Market was valued USD 7.6 Billion in 2023 and projected to reach USD 12.4 Billion by 2030, growing at a CAGR of 6.3% during the forecast period of 2023-2030
Richmond, Jan. 31, 2024 (GLOBE NEWSWIRE) — According to a research report “Cruetly-Free Cosmetics Market”, by Product Type (Skincare Products, Haircare Products, Nailcare Products, Others), Packaging (Jars, Compact cases, Tubes, Pencil and sticks) Others), by Form (Cream, Gel, Liquid, Powder, Others), by Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region – Global Forecast to 2030.
Global Cruetly-Free Cosmetics Market Report Scope:
|Market size value in 2023
|USD 7.6 Billion
|Market size value in 2030
|USD 12.4 Billion
|Value (USD Million/USD Billion)
|Product Type, Packaging, Distribution Channel and Region
|North America, Europe, Asia Pacific, and RoW
|Sample of Companies Covered
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TOC Covers in Depth & Breath on Cruetly-Free Cosmetics Market
170 – Market Data Tables
65 – List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
The global cruelty-free cosmetics market has gained significant growth in recent years, reflecting a paradigm shift in consumer preferences towards ethical and sustainable beauty products. The increasing awareness of animal welfare issues, coupled with a growing demand for products free from animal testing, is driving the expansion of the cruelty-free cosmetics market. Consumers are increasingly prioritizing brands that champion cruelty-free and vegan formulations, leading to a surge in product offerings that eschew traditional testing methods. This trend is particularly pronounced in regions like North America and Europe, where stringent regulations against animal testing and heightened consumer consciousness contribute to market dominance. Key players in the cosmetics industry are responding to this demand by adopting cruelty-free practices and transparent labeling, fostering innovation in formulations and manufacturing processes. The cruelty-free cosmetics market is poised for continued growth as ethical considerations increasingly shape consumer choices, and companies align their practices with the evolving landscape of conscious consumerism.
Major Vendors in the Global Cruelty-Free Cosmetics Market:
- A.p. Chem.
- Abbott NYC.
- Adorn Cosmetics.
- Adwoa Beauty
- Afterglow Cosmetics
- Babo Botanicals
- California Tan
- Earth Breeze
- Face Atelier
- Hairitage by Mindy
- Iles Formula
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Safety Concerns of cosmetics
Cosmetics are a category of health and beauty products that are used to care for the face and body, or used to accentuate or change a person’s appearance. Cosmetics are not only employed to modify appearance of an individual, but are also used for care of skin and body, besides to add fragrance to that person. Although, cosmetics are known for skin and body care, there are various types of cosmetics with specific and significant purpose.Even though, cosmetics are considered as boon by huge populations globally, the risk and toxicity of the cosmeceuticals are not to be excluded. Since cosmetic products are widely used by large populations, safety should be assured and built within the products during manufacturing itself. Over usage of cosmetic products can also cause toxicity and chronic side effects, which can be irreversible at times.
- Transformation in consumer preferences
- Customization of products
- Vegan and ethical packing
- Celebrities and social media influencers
- Technological advancements
- Health and wellness Trends
- Contribution in conscientious & compassionate beauty
- Rising awareness of animal right
Increasing competition between brands
As the cruelty-free cosmetics market continues to grow, it becomes increasingly competitive. Established beauty brands are reformulating their products to meet cruelty-free standards, while new, specialized cruelty-free brands are entering the market. This heightened competition puts pressure on product pricing, which can affect profitability. Some cruelty-free brands may struggle to maintain price points that are competitive with traditional cosmetics, particularly in mass-market segments. Finding the right balance between offering ethical products and remaining financially viable can be a delicate challenge for companies in the cruelty-free cosmetics sector
The global cruelty-free cosmetics market, while thriving, faces a set of complex challenges. These challenges include navigating regulatory differences, ensuring product safety and efficacy, managing a complex supply chain, combating greenwashing, and coping with competitive pricing pressures. Overcoming these challenges requires a concerted effort from brands, regulatory bodies, and consumers to maintain the integrity and growth of the cruelty-free cosmetics market. As the industry continues to evolve and address these issues, it is likely to become more resilient and better equipped to meet the ethical demands of consumers
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North America dominates the market for Cruetly-free cosmetics.
North America stands out as the dominating region in the global cruelty-free cosmetics market, with the United States leading in consumption and market share. The region’s dominance can be attributed to the increase in environmental awareness, government rule and regulation on banning use of animal for cosmetics, encouraging regulators to accept non animal testing. The U.S. market particularly benefits from a diverse consumer base with convenient cosmetics options.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the cruelty-free cosmetics market. India’s market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized living habits. The convenience factor aligns well with the fast-paced urban life in countries like India, making cruelty-free cosmetics s increasingly popular. Additionally, government initiatives promoting not to use animals for testing and improvements in cruelty free products.
Another region is the Middle East and Africa, where the demand for convenient cosmetics solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of cruelty free products.
Improved aging as the modern alternative to anti-aging
Anti-aging creams are the current cosmetic formulations which are under development. Anti-aging creams is one of the most recently appeared formulations in human history. Anti aging cream has specific action which may include it into the choice of interest for the scientists. There are several strategies for retarding aging process in skin like chemical peeling, resurfacing using laser, etc.
Natural hyaluronic acid is often used as filler for dermal regions to reduce wrinkles. Doctors still search for the actual meaning of anti-aging. Because aging is a term that increases with time, anti aging means racing against time. But, it should be noted that anti-aging cosmetics are not completely specific. This is because the cosmetic products are not likely to cause changes in brain. The human brain plays a crucial role in the process of ageing.
Segmentations Analysis of Cruetly-free cosmetics Market: –
- By Product Type
- By Packaging
- Compact Cases
- Pencil and sticks
- By Form
- By Distribution Channel
- Hypermarkets and Supermarkets
- Conventional Store
- Subscription Model
- By Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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