Impact of Health, Environment, and Ethics 'Value Consumption' Expansion After COVID-19
Korea Vegan Certification Institute Grants Vegan Certification to Over 500 Vegan Cosmetics
Global Market Growing at 6% CAGR from $12.9 Billion in 2018
[Asia Economy Reporter Moon Hyewon] Since COVID-19, value consumption considering health, environment, and ethics has spread, sparking a 'vegan craze' in the cosmetics industry.
According to the Korea Vegan Certification Institute on the 9th, since launching certification services in the second half of 2020, it has completed certification for about 500 'vegan cosmetics.'
Vegan cosmetics refer to products that do not undergo animal testing during manufacturing and processing stages and use only natural, eco-friendly ingredients instead of animal-derived raw materials.
Major domestic cosmetics companies such as Amorepacific, LG Household & Health Care, and Aekyung Industrial currently offer their own vegan brands.
Amorepacific's 'Enough Project' introduced products such as moisturizing cream and the '24H Youth Ampoule,' which not only received vegan product certification from the Korea Vegan Certification Institute but also used PCR (Post-Consumer Recycled) PET material made from recycled plastic for the containers.
LG Household & Health Care entered the market last year by launching the 'belif X VDL Vegan Makeup' line. None of the products involved animal testing or used animal-derived ingredients, and they also passed skin irritation tests and received vegan certification from the Korea Vegan Certification Institute. The line includes multi-color liquid, primer, stick foundation, lip and eye makeup, and cleansing products.
Aekyung Industrial's clean skincare brand Eflow received vegan product certification from the Korea Vegan Certification Institute for its 'Cica Ceramide Moisturizing Cream.' It especially applied a 'vegan formulation' excluding animal-derived ingredients.
Shinsegae International's makeup brand Hourglass recently launched the vegan cosmetic 'Ambient Soft Glow Foundation,' which completely excludes animal-derived ingredients. It is a liquid-type foundation featuring a long-wear formula that lasts up to 16 hours.
Koreana Cosmetics' minimalism cosmetic brand 'Gaon' created two products, 'Gaon Seed Toning Serum' and 'Gaon Sprout Eye and Face Cream,' which exclude animal-derived ingredients and use only about ten minimal ingredients necessary for the skin, including fresh natural ingredients. They are free from synthetic colorants and synthetic fragrances and have completed skin irritation tests, making them suitable for sensitive skin without burden.
An industry official said, "Vegan is not a temporary trend but is becoming a mainstream trend," adding, "As controversies over harmful ingredients in some cosmetics continue, demand from health-conscious consumers is expected to increase further."
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