Vegan Cosmetics Market is Projected to Hit USD 24.79 Billion in 2021-2028 | Vegan Cosmetics Industry exhibit a CAGR of 6.57%
The vegan cosmetics market size was USD 12.72 billion in 2020. The market is projected to grow from USD 15.87 billion in 2021 to USD 24.79 billion in 2028 at a CAGR of 6.57% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Vegan Cosmetics Market, 2021-2028.” Factors such as veganism turning into a mainstream trend and increasing consumer base focusing on sustainability activities will increase the footprint of the market during the forecast period. Additionally, the rising rate of product renovation will boost the market growth. COVID-19 Impact- Supply Chain Disruptions to Hamper Market Growth During Pandemic Era The COVID-19 pandemic caused severe economic backlash to various sectors. Production delays and disruptions in supply chains affect the market in a negative manner. Vegan cosmetics were deemed as non-essentials at the beginning of the pandemic, which created a stagnant product supply demand.