News

Vegan Beauty Industry to Be Worth $21 Billion by 2025

The global vegan cosmetics industry is set to nearly double as consumers become increasingly aware of animal cruelty in the beauty industry, and brands adjust product portfolios to accommodate the shift.

A new report compiled by market research firm Grand View Research (GVR) projected the worth of the global vegan cosmetics industry to reach $20.8 billion by 2025—up from $12.9 billion in 2017. GVR explained that growth in the vegan beauty industry—which it expects to steadily increase at a compounded annual growth rate of 6.3 percent—is primarily attributed to the increased consumer concern about animal welfare. “Spiraling demand for vegan cosmetics among millennials is one of the primary growth stimulants of the market,” the report stated. “Major cosmetics manufacturing companies across the globe are realizing the importance of making products that use ingredients, which are mineral-based or plant-based, rather than manufacturing products that are infused with animal-extracted ingredients. Vegan cosmetics are gaining popularity due to their superior properties.” A number of popular cosmetics brands, including Milk Makeup and Hourglass Cosmetics, have pledged to remove animal products from their collections to support the growing trend of vegan beauty products. In a separate report, GVR projected positive growth for vegan leather in the fashion industry, predicting that it will be a $85 billion global industry by 2025.

Photo courtesy of Hourglass Cosmetics

More News

Tesco Sells 2.5 Million Vegan Meals in 20 Weeks

The supermarket chain more than doubled its sales projections of new vegan line Wicked Healthy.
Read More »

Nevada Steakhouse Debuts Vegan Menu

Hank's Fine Steaks & Martinis added a separate menu with plant-based cauliflower steaks, stuffed eggplant, and two decadent desserts.
Read More »

Aussie Pub Creates Vegan Filet-O-Fish

Eatery Two-Bit Villains now hosts weekly vegan pub nights complete with plant-based popcorn chicken, nachos, and a vegan version of the popular fish-based sandwich.
Read More »

Friday's "Felicia" Opens Vegan Version of Chipotle

Actress-turned-vegan-chef Angela Means Kaaya to re-open Jackfruit Cafe—which she previously operated out of a doughnut shop—this summer.
Read More »

Meaty Vegan Shop Sister Seitan Opens in UK

New woman-owned restaurant Sister Seitan is slinging vegan chicken burgers and mac and cheese in Kent.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »