Market Research Future published a half cooked research report on Global Cruelty-Free Cosmetics Market which is estimated to grow more than 6.1% by 2023
PUNE, MAHARASHTRA, INDIA, July 14, 2017 /EINPresswire.com/ — Increasing sale of cruelty-free cosmetics is driven by rising awareness among the consumers about the production process used by the manufacturers for production of non-cruelty free cosmetics. Rising concerns about animal welfare is one of the major drivers for this market. In non-vegan cosmetics products, animals are subjected to various tests which include test on their eyes and shaved bodies which is torturous to the animals. Based on the ethical reasons, mass consumers are inclined more towards the use of natural cruelty-free products. Increasing disposable income and economy development also has influenced the consumers’ spending behavior leading to increased expenditure on quality products with no animal ingredients. All these factors contribute to increased market share of cruelty-free or vegan cosmetics globally. The consumption as well as production of cruelty-free cosmetics is found to be high in Europe region and is evaluated to increase at a positive growth rate in various countries of North America and Asia-Pacific.
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Globally the cruelty-free cosmetics market share as one of the fastest growing range in personal-care product range is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for organic and vegan products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards the usage of personal care products with organic ingredients which also has a positive impact on this market.
All these factors will contribute to the calculated CAGR of 6.1% of cruelty-free cosmetics market during 2017-2023.
Consumption of cruelty-free cosmetics is growing at a significant rate based on high consumers demand for products containing natural ingredients which need not be tested on animals and are non-allergic. As consumers are becoming more beauty conscious globally, cruelty-free makeup & color cosmetics tend to hold a major share in the market. Further, based on the form, cruelty-free cream dominates the segment based on easy application and high shelf-life of the product.
Sale of cruelty-free cosmetics through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience. In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of Cruelty-Free Cosmetics through e-commerce is found to escalate at a positive growth rate.
The major key players in cruelty-free cosmetics market are
• L'Oréal S.A. (France)
• COVER FX Skin Care Inc. (Canada)
• INIKA Organic (Australia)
• Spectrum Collections (U.K.)
• Kat Von D Beauty (U.S.)
• Beauty B (U.S.)
• PHB Ethical Beauty (U.K.)
Cruelty-Free Cosmetics manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to consumers get attracted towards the product range leading to its growing sale. In Europe, France is among the dominating countries holding a major share in cruelty-free cosmetics market and exports the product in various other countries which include U.S., China, Norway, and others.
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The global cruelty-free cosmetics Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Europe holds a major market share followed by Asia Pacific region. Developing economy has resulted in changed consumer’s spending behavior leasing to increased demand for non-animal tested and no-animals ingredients products from the developed countries of regions contributing to the positive growth of cruelty-free cosmetics market. U.S., China, U.K., Germany, and Singapore are the major importers of cruelty-free cosmetics.
Cruelty-free cosmetics are also known as vegan cosmetics. Cruelty-free cosmetics come under the category of personal care products that are manufactured without being tested on animals. The products undergo final testing in-vitro or on humans. Growing animal welfare acts all around the globe is one of the major factors for the popularity of this market. Increasing population of consumers adopting vegan life-style is highly influencing the growth of this market. Mass consumers adopting the usage of natural and organic cosmetics worldwide prefer cruelty-free beauty products such as skin care, hair care, make-up and other products. The market share of the cruelty-free cosmetics is evaluated to be rising at a higher rate as compared to other synthetic products. On the other hand, harmful chemicals such as paraben present in the products might cause allergies to some consumers thus restricting the growth of this market.
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• Sale of perfumes & fragrances cruelty-free cosmetics is found to be growing at a higher rate during the forecast period
• Top exporters of cruelty-free cosmetics include France, U.S., India, Germany and New Zealand
Cruelty-Free Cosmetics has been segmented on the basis of product-type which comprises of skin care, hair care, perfumes & fragrances, makeup & color cosmetics, others. Makeup & color cosmetics hold a dominant share out of all the other types.
Cruelty-free cosmetics have been segmented on the basis of form namely cream, gel, liquid, powder, and others. Cream based products hold a lion’s share among the various forms followed by gels.
Cruelty-Free Cosmetics has been segmented on the basis of distribution channel which comprises of supermarket/hypermarket, specialty retailers, convenience stores, e-commerce, others. Sale through supermarket/hypermarket is growing at a higher growth rate backed up by a convenient shopping experience of the consumers.
The global cruelty-free cosmetics market is segmented into North America, Europe, Asia Pacific, and Rest of the World (ROW). Europe has the major market share followed by Asia Pacific. Increased production of cruelty-free cosmetics in major European countries is projected to generate a high revenue from Europe region during the given forecast period. Changing consumer preferences for natural and vegan products will support the sale of cruelty-free cosmetics in various region during the forecast period. The major importers of cruelty-free cosmetics include U.S., China, U.K., Germany, and Singapore. Based on the higher demand for personal care products especially in female population, the import and export of cruelty-free cosmetics for manufacturing such products in
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Source: EIN Presswire