The beauty industry is changing, and vegan skincare & makeup are leading the way. Clean, cruelty-free, and high-performance products are shaping the future of beauty.

Market Outlook

The vegan cosmetics market is growing rapidly. According to recent reports:

• CAGR: Expected to grow at 6-7% from 2024 to 2030
• Market Size: Estimated to surpass $25 billion by the end of the decade
• Drivers: Rising consumer awareness, demand for cruelty-free products, and regulatory shifts favoring clean beauty

Why Consumers Love it

• Ethical sourcing & cruelty-free appeal
• Clean, skin-friendly formulations
• Sustainable & eco-friendly approach

Challenges in the Industry

• High production costs compared to conventional cosmetics
• Consumer skepticism about efficacy vs. traditional products
• Limited availability of advanced plant-based alternatives

Startup & Innovation Leaders

The Lip Bar

• Founded by Melissa Butler
• Vegan, cruelty-free, and plant-based makeup & skincare
• Focus on clean beauty, sustainability, and performance
• Rejected on Shark Tank, now the largest Black-owned brand at Target
• Inclusive products for diverse skin tones

The Outset

• Co-founded in 2020
• Known for vegan collagen serum
• Focus on clean, cruelty-free, accessible skincare

Gen See

• UK-based, founded in 2021
• Offers vegan beauty for all skin tones and types
• Emphasizes ethical, inclusive, and modern formulations

How Can Effectual Help?

We enable R&D leaders, Technology Scouts, & Open Innovation Teams by providing information that can help them take real time business decisions backed with credible & authentic data.

• Technology & Business Landscape
• Innovation Scouting & Opportunity Assessment
• IP Research & Competitive Intelligence
• R & D Support, Portfolio & white space analysis