Mintel’s Global New Products Database (GNPD) shows that vegan beauty launches more than doubled over the past five years, growing by 175 percent from July 2013 to June 2018.
Analysts have put the boom largely down to young consumers (Gen Z and Millennials), saying they are ‘very informed on what is in their products and ethical and natural factors are very important to them’.
Expected to continue
The boom is expected to continue, according to Andrew McDougall, Global Haircare Analyst at Mintel, who said: “As consumers in general strive to be healthier, this has led to more people adopting a plant-based diet, so the likelihood is they will want to align their beauty routine with the rest of their lifestyle…
“The vegan trend appears to continue growing as consumers monitor their impact on the planet, so we expect it to continue in the future.
“There is also room for expansion for beauty retailers, echoing the idea of free-from aisles, which are now commonly found in stores, using displays dedicated to values like ‘vegan’, ‘cruelty-free’ or ‘carbon-neutral’ to help consumers differentiate products and brands.”