Cruelty-Free Cosmetics Market: Trends, Growth Opportunities, and Forecast 2024-2030
The global cruelty-free cosmetics market size is anticipated to reach USD 23.54 billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The beauty industry's shift toward conscious consumerism is driving growth in the market. Despite nearly half of cosmetic consumers desiring cruelty-free products, a staggering 88% of current brands do not meet these standards, according to the ThinkNow Inclusive Beauty Report 2023. This discrepancy highlights the rising demand for ethical beauty products. Notably, fast-growing brands like e.l.f. Cosmetics and Rare Beauty, both of which are cruelty-free and vegan, are capitalizing on this trend, outpacing traditional giants like L’Oréal and Estée Lauder. Preferences in the market are shaped by factors such as age and income. While Gen Z shows less interest in vegan brands (19%) compared to Millennials (33%) and Gen X (31%), income levels significantly influence cruelt...