Global Cruelty-Free Cosmetics Market – Overview
Cruelty free cosmetics have become a major trend of late due increased awareness due to increased animal rights awareness. Market Research Future, a firm which specializes in market reports related to Consumer and Retail sector among others, recently published a report on this market. The industry is expected to expand at an unmatched CAGR rate in the forecast period while achieving high revenue levels.
Cruelty free cosmetics have become popular of late and are witnessing increased demand due to increased consumer awareness about the side effects of animal testing especially in the cosmetics sector. Sale of perfumes & fragrances in the cruelty-free cosmetics industry is also experiencing growth at a higher rate during the forecast period. Mass penetration in the target demographic and increased promotions have been effective in bolstering demand of this sector to positive levels.
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Global Competitive Analysis
The key players profiled in the Global 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.)
The cruelty free cosmetics market has been segmented on the basis of product type, form and distribution channels.
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.
The market has been further segmented on the basis of form namely cream, gel, liquid, powder, and others.
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.
Latest Industry News:
Jan 2018 Beauty brand Lush has launched a romantic new collection for Valentine’s Day, including 23 cruelty-free and vegan products. The line will be available from January 19th in stores and online. The cruelty-free brand has included previous customer favourites as part of the range.
Detailed Regional Analysis
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 the developed countries is expected to rise at a steady rate.
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