The North America Vegan Cosmetics Market would witness market growth of 5.7% CAGR during the forecast period (2024-2031).
The US market dominated the North America Vegan Cosmetics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,622.2 Million by 2031. The Canada market is exhibiting a CAGR of 7.9% during (2024 - 2031). Additionally, The Mexico market is experiencing a CAGR of 7% during (2024 - 2031).
The market has undergone a transformative evolution, emerging as one of the most dynamic and rapidly growing sectors within the broader beauty and personal care industry. This expansion is the result of a combination of factors, such as a rise in the popularity of veganism, heightened consumer awareness of ethical consumption, and a surging demand for sustainable and cruelty-free products. The market is prepared to benefit from the move toward more ecologically preferred and ethical alternatives. This is because customers are becoming more conscious of the sources and impacts of the products they purchase.
At its core, the market is defined by products free from animal-derived ingredients that have not been tested on animals. This encompasses a wide range of beauty and personal care items, from skincare and haircare to makeup and fragrances. The principles underpinning vegan cosmetics resonate deeply with a growing segment of consumers who prioritize animal welfare, environmental sustainability, and health-conscious living. This alignment with modern ethical standards has propelled the market forward, attracting dedicated vegans and a broader audience interested in more responsible consumption.
The demand for vegan cosmetics in Mexico is fueled by rising consumer awareness and regulatory changes. According to data from the National Institute of Statistics and Geography (INEGI), there has been an increase in consumer interest in sustainable and ethical products, including vegan cosmetics. This is partly due to the influence of global beauty trends and a growing middle class with disposable income. The Mexican government has also taken steps to support the development of a sustainable cosmetics industry, including regulations promoting cruelty-free practices and using natural ingredients. Hence, this confluence of factors positions the North American vegan cosmetics market for continued expansion in the foreseeable future.
Free Valuable Insights: The Vegan Cosmetics Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
By Product
By Distribution Channel
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