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Vegan Beauty Market Could Hit $28 Billion By 2031

by Charlotte Pointing

Jun 24, 2022

The vegan beauty market is booming. It's already worth more than $16 billion, but by 2031, it could surge to a market value of more than $28 billion.

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For a makeup or skincare product to be classified as vegan, it must not contain any animal products. Common animal-derived ingredients in the beauty industry include honey, beeswax, lanolin (for shine and gloss), carmine (for its intense red pigment), and collagen (for its skin-firming properties).

More than ever, people don't want their buying habits to negatively impact animals or the planet.

According to a report published by Allied Market Research, an overall increase in people adopting vegan and vegetarian lifestyles is one factor driving growth in the vegan cosmetics industry.

The US, where roughly five percent of the population is vegetarian, is "dominating" the vegan cosmetics market, notes the report.

While a number of smaller, independent brands are vegan, the new report focuses predominantly on beauty's biggest corporations. It profiled Unilever, Estée Lauder Companies Inc, and L'Oréal, for example, as well as Pacifica Beauty.

There's no doubt that major companies can see growth potential in the vegan beauty market. Multinational consumer goods giant Unilever, for example, already owns several vegan-friendly or vegan beauty brands, like TATCHA, Ren, and Paula's Choice.

Is vegan the same as cruelty-free?

It's important to note that vegan beauty and cruelty-free beauty are not the same things. A product can be totally free of animal-derived ingredients but that is no guarantee it hasn't been tested on animals. So, when buying a vegan beauty product, it's also important to check if the brand is certified cruelty-free.

Out of the 50 largest cosmetic companies in the world, 44 are not cruelty-free. However, many of these corporations own brands that are cruelty-free, as proven by reliable certifications, like the Leaping Bunny Program. TATCHA, for example, is confirmed cruelty-free.

For help finding vegan and cruelty-free cosmetics, you can use our database. It'll tell you whether a brand is certified truly cruelty-free, who its parent company is, and where to buy its products. Check it out here.

Which Brands Are Cruelty-Free?

Download our list of 600+ verified cruelty-free brands straight to your device. Bring it with you everywhere you go, and never worry about supporting animal testing again. Click here to download

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