Vegan is simply defined as something that is free from any animal-derived components or ingredients, such as fish oils, furs, cow milk or dairy products, meat, leather, and so on. Vegan cosmetics are in style because of the increasing number of people who are preferring cruelty-free products to use.
If we talk about the types of cosmetics in the industry, then it includes vegan—a product without any animal components in it such as beeswax, honey, etc.; cruelty-free—a product that is not tested on animals; and cosmetics that contain animal-derived ingredients—squalene from shark liver, collagen, tallow, etc.—in them.
What are the Benefits of Vegan Cosmetics?
There are numerous benefits to going vegan for your beauty products, including:
For Skin
Vegan products are heaven for sensitive skin types that are prone to acne and have eczema, allergies, or other types of skin conditions. Moreover, you can avoid skin cancer if you use vegan cosmetics.
There are no harmful side-effects to using vegan products as they are plant-based, and plants are natural and organic, which do not contain any harmful substances.
Concerning the environment
If the product is vegan, then it is 100% cruelty-free, which means animals are not tortured to produce and test the product. These products do not contain dead animals either.
Many cosmetic companies test products and after using animal skin or their parts, they use harmful substances and chemicals to restore them or throw them in large open areas, which can increase the risk of new diseases and environmental waste.
Moreover, if the product has failed in the market or reached its expiry then it is thrown out of the factories or warehouses, which creates more hazardous waste, wasted animal lives, and wasted water and energy on those products.
Vegan Market Potential
The cosmetic industry has seen humungous growth in the last decade. If we talk about the CAGR per cent for the forecasted period of 2022–2028, the market is expected to see 6.2% growth. With that, we can assume that the beauty industry is growing exponentially.
This growth is going to affect the vegan cosmetic market positively because of the increasing use of cosmetics and awareness of vegan products. If we talk about vegan cosmetics, according to the reports on the Vegan Cosmetics Market, more than 90% of the surveyed population demands that cosmetic companies create vegan products.
Key market players such as Lakmé, KVD Beauty, Hourglass Cosmetics, Simone Beauty, etc. are helping to serve more vegan-based products to customers.
Final Thoughts
As the online platforms are growing, more and more people are becoming aware of the new launches and products in the vegan cosmetics market. Individuals are interested in more organic and vegan products because of the benefits they provide. So, we can easily assume the vegan industry is going to see an increase in its customers as well as market contributors.