Cosmetics that are vegan are free of any animal products and their byproducts. Traditional animal-derived components like honey, beeswax, lanolin, collagen, elastin, etc. are swapped out with ones made from plants or minerals.
The term “vegan” does not, however, imply that a product is entirely natural, organic, or not subjected to animal testing. Additionally, a product’s claim to be “vegan” does not guarantee that it has an excellent composition or won’t trigger an allergic reaction.
For a very long time, vegan cosmetics were regarded as a niche product and were even thought to be of lesser quality. Many people held the opinion that vegan cosmetics might not be of great quality, durability, usability, or beauty.
The South Korea vegan cosmetics market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Through its online shopping portal LDF BUY, Lotte Duty Free, the duty-free division of South Korean retail behemoth Lotte, recently introduced a line of vegan cosmetics.
Grown Alchemist, an Australian company that specialises in natural skincare, and Hunter Lab, an equally gender-inclusive skincare company, will both sell vegan cosmetics through LDF BUY.
Since the vegan cosmetics are not duty-free goods, South Korean customers do not need to travel outside of the nation to buy them online through LDF BUY. The aforementioned brands all employ eco-friendly ingredients and don’t subject animals to testing.
Data suggests that the South Korean market for meat substitutes has grown as more and more young Koreans choose plant-based diets.
In an effort to appeal to the young demographic of millennial and Generation Z beauty consumers, the South Korean consumer goods behemoth LG Household & Health Care (LG H&H) has introduced Freshian, a vegan-certified colour cosmetic brand.
With two different types of cushion compacts, a variety of lip balms, and a sunscreen, the new brand made its debut. The ingredients in the products, which include five different forms of hyaluronic acid and madecassoside, were chosen to “soothe the skin.”
Egypt, Kuwait, and Bahrain are just a few of the new areas Egypt-based luxury vegan beauty business Dear Dahlia from South Korea plans to enter this year.
Earlier this year, the brand entered the Middle Eastern beauty industry through a partnership with high-end cosmetics retailer FACES. All of its products contain an exclusive floral extract from the Dahlia variabilis plant that has antioxidant properties. Additional organic, plant-based ingredients in the goods are certified by the USDA, COSMOS, and Ecocert.
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