Vegan cosmetics market seen reaching $28.5 billion by 2031

Allied Market Research says the global vegan cosmetics market was worth $16.6 billion in 2021 and is projected to hit $28.5 billion by 2031, driven by rising demand for cruelty-free and organic personal care. Skincare, online sales and Asia-Pacific are among the fastest-growing segments.

Why it matters: - Vegan cosmetics are moving from niche to mainstream as more consumers look for cruelty-free, plant-based personal care and makeup. - The category’s growth could reshape product development, certification standards and retail strategies across beauty brands. - Rising demand also creates room for global players to expand in a market that is still fragmented by pricing and certification gaps.

What happened: - Allied Market Research projects the global vegan cosmetics market will grow from $16.6 billion in 2021 to $28.5 billion by 2031. - The report forecasts a 5.9% compound annual growth rate from 2022 to 2031. - Skincare is projected to post the highest revenue CAGR within product types at 5.2% during the forecast period. - The report also expects the commercial end-user segment to grow at a 6.5% CAGR.

The details: - Vegan cosmetics are defined as beauty and personal care products made without animal-derived ingredients and without animal testing. - Common animal-derived ingredients excluded from vegan cosmetics include honey, beeswax, lanolin, collagen, albumen, carmine, cholesterol and gelatin. - The market covers skincare, cosmetics, hair care and other product types. - The report breaks the market into premium and economic price points, women/men/children users, personal/commercial end users, and hypermarkets, specialty stores, online channels and other sales paths. - Regional coverage includes North America, Europe, Asia-Pacific and LAMEA. - The U.S. was the largest revenue-generating country in 2021. - Asia-Pacific is expected to be the fastest-growing region, with a projected 7.7% CAGR from 2022 to 2031. - Online channels are expected to grow at a significant rate during the forecast period. - The economic segment is expected to expand at a significant CAGR. - The women segment is expected to grow at a significant CAGR. - The fastest-growing product area is expected to be vegan color cosmetics, supported by demand from younger consumers who want fashion and makeup products without animal by-products.

Between the lines: - The report ties growth to rising disposable income, higher interest in personal appearance and broader adoption of vegan and vegetarian lifestyles. - Consumer concern about synthetic ingredients is also pushing demand toward organic and vegan products perceived as safer. - High prices remain a drag on adoption, and the lack of common vegan certification rules adds uncertainty for brands and shoppers. - Global beauty companies including L’Oreal, Unilever, P&G and others have potential to expand deeper into vegan beauty as demand rises. - Growth in countries such as Germany, France, the U.K. and Australia reflects stronger interest among younger consumers in fashion and beauty trends. - The report lists companies including Amway Corporation, Estee Lauder Companies Inc., Groupe Rocher, L’Occitane Group, L’Oréal S.A., LVMH Group, MuLondon, Pacifica Beauty, Unilever and Weleda.

What’s next: - Vegan cosmetics sales are likely to keep expanding as brands add more cruelty-free lines and push further into online retail. - Asia-Pacific’s rapid growth could make the region a bigger focus for product launches and distribution. - More competition from multinational beauty groups may intensify pressure on pricing, certification and product differentiation. - Allied Market Research says the report is available for sample download and purchase through its website.