The Latin America, Middle East and Africa Vegan Cosmetics Market would witness market growth of 8.8% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Vegan Cosmetics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $502.4 Million by 2031. The Argentina market is capturing a CAGR of 9.4% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 7.7% during (2024 - 2031).
The increasing awareness and adoption of veganism have also led to significant changes in the beauty industry's landscape. Major cosmetic brands recognize the growing demand for vegan products and are expanding their offerings to include vegan and cruelty-free lines. This shift is not limited to niche or indie brands; mainstream companies like L'Oréal, Unilever, and Procter & Gamble invest in developing vegan products to cater to this burgeoning market. Expanding vegan product lines by established brands helps normalize veganism and make these products more accessible to a broader audience.
Retailers are also responding to the rising demand for vegan cosmetics. Stores such as Sephora, Ulta, and major supermarket chains are increasing their inventory of vegan and cruelty-free products, dedicating shelf space and online categories specifically for these items. This expanded availability facilitates consumers' discovery and acquisition of vegan cosmetics, thereby fostering market expansion. E-commerce platforms, in particular, have become essential in reaching consumers who prefer the convenience of online shopping and who may not have access to a wide range of vegan products locally.
A growing number of Brazilian consumers are becoming more conscious of the importance of animal welfare and environmental sustainability, which is driving the rapid growth of the market for vegan cosmetics in the country. According to the Brazilian Institute of Geography and Statistics (IBGE), there has been a significant shift in consumer preferences towards products that are cruelty-free and free from animal-derived ingredients. The Brazilian government has also supported sustainable practices and encouraged using natural ingredients in cosmetics. Additionally, Brazil has seen legislative changes, with bans on animal cosmetics testing in several states. This regulatory environment, a growing middle class, and increased disposable incomes have contributed to the country's vegan cosmetics market expansion. Thus, the LAMEA vegan cosmetics market shows immense growth potential.
Free Valuable Insights: The Worldwide Vegan Cosmetics Market is Projected to reach USD 24.9 billion by 2031, at a CAGR of 6.1%
Based on Product, the market is segmented into Skin Care, Color Cosmetics, Hair Care, and Others. Based on Distribution Channel, the market is segmented into Specialty Stores, Hypermarkets & Supermarkets, E-commerce, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product
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