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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Industry Segments
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. Cream based products hold a lion’s share among the various forms followed by gels. 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.
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.
Global Competitive Analysis
The entry of new industry players in the segment has initiated a trend of volume-driven growth that has been observed to intensify with the addition of new and advanced products. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Companies are capturing & solidifying their share of the market segment, by competing and experimenting with various advantage points.
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.)
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.
Dec 2017 Beauty Bakerie, a beauty brand that mixes the goodness of bakeries with makeup, has released a sweet product that’s going to have lots of people ready to eat their lipstick called “Nude-tella,” .The founder of Beauty Bakerie, is enthusiastic about the company’s animal-free, cruelty-free products. In addition to being vegan (free of animal products and animal testing) and smudge-free, the lipsticks are waterproof and long-lasting.
Jan 2018 C’est Moi beauty brand has entered the beauty marketplace this month with gentle, thoughtfully formulated skin care and fresh, wearable color cosmetics specifically for tweens and teens. The brand provides a simple approach to beauty for young skin while filling a gap where there have not been options until now. The entire collection will launch on Target.com and CestMoi.com, and will be available on January 21, 2018. All products are dermatologist tested, clinically tested on sensitive skin, made with natural and organic ingredients, hypoallergenic, fragrance free, talc free, cruelty free, made in the USA and EU, and have both recyclable and FSC certified packaging.
Nov 2017 Clothing and accessories retailer FatFace has firmed up its offerings in the cosmetic and beauty category by confirming Cruelty Free status for the brand. Cruelty Free International says that the Leaping Bunny logo can now be displayed on the U.K-based company’s beauty range, to prove that no animals suffered during the manufacturing process. Currently the FatFace range of cosmetics is fairly limited, the securing the certification could facilitate the company to expand the range further in the United Kingdom and other markets.
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