Halal Cosmetics Market Detailed Analysis of Segment, Major Companies, Strategies, CAGR Status, Growth and Forecast 2027
Halal cosmetics are innovation to the
cosmetic industry which comply with the concept of halal (permissible)
materials in cosmetics. The trend of making halal-certified cosmetics has been
among the top agendas of players in the cosmetics industry. Market Research
Future (MRFR) perceives the global halal cosmetics market to have a noteworthy
growth and advance at a CAGR of 13.40% over the forecast period which ends in
2023. The Global Halal Cosmetics Market was valued at USD 22.74 Bn in 2017 and
is expected to surpass USD 52 Bn mark by the end of 2023.
With the surge in Muslim populace
across the globe, the demand for halal cosmetics are on the upswing. The Muslim
population generally adhere to religious guidelines and halal cosmetics cater
to the needs of these consumers.
To capitalize on the massive
popularity of halal cosmetics, various multi-national players are making cruelty-free
or halal cosmetics to appeal to a wider range of consumers.
Surging awareness regarding animal
welfare, social responsibility and environmentally-friendly products coupled
with growing trend of veganism has been a major drive for the growth of the
global halal
cosmetics market. Animal testing for beauty products
has been banned in various parts of the world and various public figures have
been a critical influence for the market growth. Various celebrities are
promoting the use of cruelty-free products which encourage consumers to opt for
halal cosmetics.
However, the growth of the market
might be hindered by high costs associated with halal cosmetics and lack of
standard guidelines for halal certification. Lack of awareness regarding halal
cosmetics in underdeveloped regions and lack of affordability might also act as
an impediment to the growth of the market.
Segmentation
The Global Halal Cosmetics Market has
been segmented based on product type and distribution channel.
Product type-wise, the global halal
cosmetics market has been segmented into hair care, skin care, color cosmetics,
multifunctional, and others. The skin care segment is the largest segment owing
to greater focus on personal care and hygiene. The color cosmetics segment is
expected to be the fastest growing segment due to increasing trend of use of
color cosmetics among consumers.
By distribution channel, the market
has been segmented into store-based and non-store-based. The store-based
segment has been further segmented into supermarkets & hypermarkets, convenience
stores, and others. The store based segment is currently the leading segment
while the non-store based distribution channel is expected to gain momentum
over the forecast period.
Regional Analysis
North America, Europe, Asia Pacific,
and the Rest of the World (RoW) are the key markets for halal cosmetics. The
North America market for halal cosmetics is considerably large and is driven by
presence of a large number of cosmetics companies who are rapidly foraying into
the halal cosmetics space. In addition, high disposable income and substantial
demand for halal cosmetics owing to growing popularity.
Asia pacific market is slated to be
the fastest growing market for halal cosmetics owing to rise in Muslim
population across countries such as Malaysia, Indonesia, South Korea, Thailand,
and Singapore. Moreover, the untapped markets in the region provide ample
opportunities for market growth.
Europe is also a significant market
and its growth can be exclusively accredited to the presence of some top-notch
cosmetic companies in the region. Moreover, animal testing for beauty-care
products is barred in Europe which also creates a conducive environment for the
growth of the halal cosmetics market.
The Rest of the World is also
expected to fare well in the coming years, especially the Middle East market
due to the presence of Muslim-dominated populace in the region and their
preference for halal cosmetics.
Access Report Details @ https://www.marketresearchfuture.com/reports/halal-cosmetics-market-6665
Competitive Landscape
Iba Halal Care, PHB Ethical Beauty,
Martha Tilar Group, SaafSkinCare, One Pure, Halal Cosmetics Company, Ivy Beauty
Corporation Sdn Bhd., Wardah Cosmetics, Clara International, Inika, Brataco
Group of Companies, Talent Cosmetics Ltd.,
Amara Cosmetics, Sampure Minerals, Wipro Unza, Mena Cosmetics, MMA Bio Lab Sdn
Bhd., and Paragon Technology and Innovation.
NOTE: Our Team of Researchers are
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research
and Media Private Limited),
99 Hudson Street,5Th Floor, New York, New York
10013, United States of America
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