India Vegan Cosmetics Market Overview, 2028

Growing consumer awareness of health and wellbeing has resulted in the use of safer substances in cosmetic goods. Vegan cosmetics have a sizable industry in India. The number of beauty blogs and social media sites dedicated to the benefits of going cruelty-free is continually increasing. Consumers' changing attitudes towards vegan products, as well as a rise in the use of environmentally friendly things, are driving the growth of organically derived products. Because most consumers consider animal cruelty to be wrong and are raising awareness about it, the vegan cosmetics sector is being impacted by rapid changes in cosmetic trends. The market for vegan cosmetics is growing not only because more individuals are choosing to avoid animal products but also because more customers, particularly millennials, are realising that injuring animals for the sake of beauty is unethical. Because of the advent of new brands and the decision by major brands to either go completely vegan or provide a vegan line, the diversity of cosmetic options available to vegans has significantly increased in recent years. The advantages of using natural and organic skincare products are more generally recognised than ever before, and veganism is growing in popularity, particularly among younger people. It is no longer considered insane or strange because more millennials are adopting vegan lifestyles and promoting them on social media. It is currently trendy, with more options available online and in stores and many A-list celebrities touting the benefits of living a healthy vegan diet. According to the research report "India Vegan Cosmetics Market Overview, 2028," published by Bonafide Research, The India Vegan Cosmetics market is expected to grow at above 7.17% CAGR from 2023 to 2028. Indie businesses are becoming more popular in India as consumers seek out distinctive and inventive items. In India, many vegan cosmetics brands are tiny, independent businesses that provide high-quality goods and personalised customer care. Ayurvedic cosmetics are becoming more popular in India as people seek items based on ancient Indian medicine. Ayurvedic formulations are used by many vegan cosmetics firms to make products that are gentle on the skin and provide a variety of benefits. Customers want items that can serve many functions in order to streamline their skincare routine. Vegan cosmetics companies are developing multifunctional products that combine the advantages of several products into one. One of the key technologies used in the production of vegan cosmetics in India is the use of plant-based ingredients. Manufacturers are using advanced extraction techniques to extract active ingredients from plants and use them in their formulations. Furthermore, Green chemistry is another technology that is becoming increasingly popular in the production of vegan cosmetics in India. It involves the use of environmentally friendly methods and materials to create products that are safe for the environment and human health. India has a rich cultural heritage that is reflected in its cosmetics. Many vegan cosmetics in India use traditional ingredients that have been used for centuries in Indian medicine and beauty practices. This gives them a unique identity and makes them special.

According to the product, the market is segmented into skin care, color cosmetics and hair color. The Hair color vegan products are anticipated to gain the highest growth rate with highest CAGR during the forecast period. With the rise of veganism in India, more and more consumers are seeking vegan and cruelty-free alternatives to traditional hair care products. This has led to a growing demand for vegan hair care products that are made with natural and plant-based ingredients. n recent years, there has been a significant increase in the availability and accessibility of vegan hair care products in India. This has made it easier for consumers to find and purchase these products, which in turn has led to increased demand and growth in the market. As disposable incomes continue to rise in India, consumers are becoming more willing to spend money on high-quality hair care products that are vegan, cruelty-free, and sustainable. Social media platforms like Instagram and Facebook have become important channels for promoting vegan hair care products in India. Influencers are also playing a key role in promoting these products and driving consumer demand. Consumers in India are becoming increasingly aware of the cruelty involved in animal testing and the use of animal-derived ingredients in traditional hair care products. As a result, they are turning to vegan hair care products that are free from animal testing and animal-derived ingredients. The Government of India has established a National Cosmetic Centre to provide technical support and assistance to the cosmetic industry in the country. The centre aims to promote research and development in the cosmetics sector and help manufacturers improve the quality of their products. All Vegan Cosmetics must comply with the labeling requirements specified by the CDSCO. The labels must contain information such as the name and address of the manufacturer, the date of manufacture, the batch number, the list of ingredients, and any warnings or precautions that need to be taken while using the product. The use of certain ingredients in cosmetics is regulated by the CDSCO. For example, the use of certain colorants and preservatives is restricted. Vegan cosmetics manufacturers must ensure that the ingredients they use are permitted and comply with the specified limits. According to price point, the market is divided into premium and economy. The Economy price range vegan cosmetics are expected to gain highest CAGR in India vegan cosmetics market. Economy price range vegan cosmetics products are generally more affordable than high-end luxury brands, making them accessible to a wider range of consumers in India. The availability of economy price range vegan cosmetics products has increased in recent years, with more brands entering the market and making their products accessible to consumers in India. Economy price range vegan cosmetics products are often formulated with natural and plant-based ingredients that are gentle on the skin and effective in addressing common skin and hair care concerns. The market is segmented into distribution channel, speciality stores, hypermarket/ supermarket and online channels. The Online channels are expected to grow with highest CAGR in India. There are some of online channel that distributes Vegan cosmetics products in India includes, Amazon, Flipkart, Nykaa, Purplle, The body shop, Plum etc.

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Manmayi Raval

Research Consultant

Considered in this report • Geography: India • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • India Vegan Cosmetics market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Skin Care • Color Cosmetics • Hair Care • Others

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By Gender • Women • Men • children By Price Point • Premium • Economy By Distribution Channel • Specialty Stores • Hypermarkets/supermarkets • Online Channels • Others By End User • Personal • Commercial The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Vegan Cosmetics industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.