Launches of new vegan beauty products have increased by 175 percent from July 2013 to June 2018, according to statistics compiled by market research firm Mintel (drawn from its Global New Products Database). “The market for vegan products is booming, in line with growing consumer concerns about the ethical and environmental impact of animal-related products and a desire to buy products that align with the issues people care about,” Andrew McDougall, Mintel’s Global Beauty and Personal Care Analyst, said. “The trend still has room to grow within the food industry, but it’s emerging strongly within other sectors too, particularly the beauty and fashion categories.” McDougall advised beauty companies looking to capitalize on the booming vegan trend to seek out vegan credentials on their products, develop beauty brands without testing them on animals, and build brand loyalty with younger demographics (such as Gen Z and Millennials) who are more likely to purchase vegan beauty products because they favor a plant-based diet. Beauty brands would benefit from pursuing McDougall’s advice as new legislation—such as California’s SB 1249 and Canada’s Bill S-214—will soon prohibit the sale of cosmetics tested on animals, which will not only eliminate large markets for sale of such products, but set a precedent for removing animals from the global beauty industry.
Via vegnews.com
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