The 2023-2028 World Outlook for Vegan Cosmetics

This study covers the world outlook for vegan cosmetics across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. In this report we define the sales of vegan cosmetics as including all commonly understood products and/or services falling within this broad category, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include Arbonne, Bare Blossom, Beauty Without Cruelty, Billy Jealousy, ColourPop Cosmetics, Cover FX, Ecco Bella, Eco Bella, Bare Blossom., Emami, Emma Jean Cosmetics, Gabriel Cosmetics, Gemdo Cosmetics, Key differentiating Factor, LVMH, MO MI BEAUTY, MOSSA Certified Skincare, MuLondon Organic, Nature’s Gate, Nutriglow Cosmetics, Pacifica, PHB Ethical Beauty, Unilever, Urban Decay, and Zuzu Luxe. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2022).