Global Vegan Cosmetics Market To Exceed $21 Billion By 2027 - Plant Based News
Global Vegan Cosmetics Market To Exceed $21 Billion By 2027, Predicts New Report The industry is said to grow at a CAGR of 5.1% over the next seven years - Media Credit: Adobe. Do not use without permission.

Global Vegan Cosmetics Market To Exceed $21 Billion By 2027, Predicts New Report

Reports have cited increasing concerns regarding health and safety, and consumer awareness on animal-testing as key drivers for the growth

By

2 Minutes Read

A new report predicts the global vegan cosmetics market will exceed $21 billion by the year 2027.

Research firm MarketGlass says the industry, currently worth a staggering $15.1 billion, will grow at a CAGR of 5.1 percent over the next seven years.

It lists China, the United States, Japan, and Canada as key locations that will drive the market’s worth.

Previous reports have cited increasing concerns regarding health and safety, and consumer awareness on animal-testing as key drivers for the growth. Moreover, ’embracing natural substitutes such as plant-based personal care products is working in favor of the market’.

Vegan cosmetics

Earlier this year, a UK-based testing lab secured more than $14,000 to develop cruelty-free cosmetics and personal care products. 

XCellR8 received the funding for its six-month study in the CRACK IT Challenges competition that ‘funds collaborations between industry, academics and SMEs’. It is sponsored by Unilever and AstraZeneca.

The animal-free testing lab aims to remove animal-derived products from in vitro tests to create new products and chemical ingredients.

Celebrity brands

The vegan cosmetics industry is also being pushed by a slew of celebrities.

Last year, singer-songwriter Selena Gomez launched a cruelty-free cosmetics brand, Rare Beauty, in Sephora. 

Moreover, the brand wrote: “For the past few months, you’ve all been asking… and we’re proud to share that our products will be 100 percent vegan and cruelty-free. Like you, we love and care for our animals too.”

Follow PBN Beauty on Instagram for the latest updates on cruelty-free cosmetics

Millions around the world trust Plant Based News for content about navigating our changing planet & our role in it.

Our independent team of journalists and experts are committed to making an impact through a wide range of content—and you can help by supporting our work today.

heading/author

The Author

Liam Gilliver

Liam is the former Deputy Editor of Plant Based News. He has written for The Independent, Huffington Post, Attitude Magazine, and more. He is also the author of 'We're Worried About Him'.

More by Liam Gilliver iconography/arrow-right

heading/comments

Leave a Comment

Plant Based News Comment Policy

In short:- If you act with maturity and consideration for other users, you should have no problems. Please read our Comment policy before commenting.

Comments [0]  
buttons/scroll-to-top/scroll-to-top-small-active
0
Would love your thoughts, please comment.x
()
x