Cruelty-Free Cosmetics Industry is Projected to Grow at a CAGR Over 6.1% During the Period 2017- 2023

Market Research Future published a half cooked research report on Cruelty-Free Cosmetics Market which is estimated to grow more than 6.1% during 2017-2023

PUNE, MAHARASHTRA, INDIA, August 11, 2017 /EINPresswire.com/ -- Cruelty-free cosmetics are also known as vegan cosmetics. Cruelty-free cosmetics come under the category of personal care products that are manufactured without being tested on animals. The products undergo final testing in-vitro or on humans. Growing animal welfare acts all around the globe is one of the major factors for the popularity of this market. Increasing population of consumers adopting vegan life-style is highly influencing the growth of this market. Mass consumers adopting the usage of natural and organic cosmetics worldwide prefer cruelty-free beauty products such as skin care, hair care, make-up and other products. The market share of the cruelty-free cosmetics is evaluated to be rising at a higher rate as compared to other synthetic products. On the other hand, harmful chemicals such as paraben present in the products might cause allergies to some consumers thus restricting the growth of this market.

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Market Scenario:
Changing cosmetic trends is influencing the growth of cruelty-free cosmetics as mass consumers find the testing on animals unethical and have started spreading awareness against the act. In addition, adoption of natural alternatives like plant based personal care products by the consumers is considered to be one of the major drivers for this market. Increased awareness about the tests performed on animals and even use of animal products such as fur, hair and others is prohibited in some countries of developed region which has further increased the market for cruelty-free cosmetics on a global level. Mass market penetration is leading to introduction of new products and their retail across various regions. High focus on Research and Development has led to innovations and in the product line and use of natural harmless chemicals which has fueled up the market share of cruelty-free cosmetics in global market.
Among the various types of cruelty-free products, makeup & color cosmetics are evaluated to hold a major share as mass consumers have high per capita consumption of face care products. Cream based cruelty-free cosmetics hold a dominant share based on convenience usage and easy storage properties. Based on the distribution channel, sale through supermarkets and hypermarkets retailers is found to hold a major share owing to one-stop purchase and easy availability of the desired product through the channel.
Key Findings:
• Sale of perfumes & fragrances cruelty-free cosmetics is found to be growing at a higher rate during the forecast period
• Top exporters of cruelty-free cosmetics include France, U.S., India, Germany and New Zealand

Competitive analysis-
The major key players in 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.)
Cruelty-Free Cosmetics manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to consumers get attracted towards the product range leading to its growing sale. In Europe, France is among the dominating countries holding a major share in cruelty-free cosmetics market and exports the product in various other countries which include U.S., China, Norway, and others.

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Study Objectives of Cruelty-Free Cosmetics Market
• Detailed analysis of the market’s segments and sub-segments
• To estimate and forecast market size by product-type, form, distribution channel & region
• To analyze key driving forces influencing the market
• Region level market analysis and market estimation of North America, Europe, Asia, and the rest of the world (ROW) and their countries
• Value Chain Analysis & Supply Chain Analysis of cruelty-free cosmetics
• Company profiling of major players in the market
• Competitive strategy analysis and mapping key stakeholders in the market
• Analysis of historical market trends and technologies along with current government regulatory requirements

Intended Audience

• Cruelty-Free Cosmetics manufacturers
• Natural cosmetics manufacturers
• Personal care products manufacturers
• Traders, importers and exporters

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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 found to rise at a steady rate.

The Global Cruelty-Free Cosmetics Market is segmented under the following regions mentioned below:
North America
• U.S.
• Canada
• Mexico
Europe
• Spain
• Italy
• Germany
• France
• U.K.
• Rest of Europe
Asia-Pacific
• China
• India
• Australia
• Japan
• Rest of Asia Pacific
Rest of the world
• Iran
• Saudi Arabia
• Morocco
• South Africa
• Others

The report for Global Cruelty-Free Cosmetics Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro-economic and governing factors in the market. This report provides a detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Akash Anand
Market Research Future
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