Valued to be $20.6 Billion by 2026, Vegan Cosmetics Slated for Robust Growth Worldwide

SAN FRANCISCO, Sept. 24, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vegan Cosmetics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 1229
Companies: 42 - Players covered include Arbonne; Bare Blossom; Beauty Without Cruelty (BWC); Billy Jealousy; Ecco Bella; Emma Jean Cosmetics; Modern Minerals Makeup; MuLondon Organic; Pacifica and Others.
Coverage: All major geographies and key segments
Segments: Product (Skin Care, Hair Care, Makeup, Other Products); Distribution Channel (Hypermarkets / Supermarkets, eCommerce, Specialty Stores, Departmental Stores, Other Distribution Channels)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Vegan Cosmetics Market to Reach $20.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Vegan Cosmetics estimated at US$15.1 Billion in the year 2020, is projected to reach a revised size of US$20.6 Billion by 2026, growing at a CAGR of 5.1% over the analysis period. Skin Care, one of the segments analyzed in the report, is projected to record a 5.6% CAGR and reach US$7.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hair Care segment is readjusted to a revised 5.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.3 Billion in 2021, While China is Forecast to Reach $4.2 Billion by 2026
The Vegan Cosmetics market in the U.S. is estimated at US$4.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.2 Billion by the year 2026 trailing a CAGR of 7.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

Makeup Segment to Reach US$3.9 Billion by the year 2026
In the global Makeup segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.2 Billion in the year 2020 will reach a projected size of US$3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.