The global Halal Cosmetics market is forecast to reach USD 66.33 Billion by 2027, according to a new report by Reports and Data. The market is being driven by the increasing number of Muslim population globally. Muslims account for approximately 25% of the worldwide population. An increase in the health concerns among consumers after using cosmetic products is fueling the need for special cosmetic products, which is, driving the market for halal cosmetic products. Moreover, increasing awareness of Muslim consumers on their religious obligations has also contributed to the rising demand for halal-certified cosmetic products.
The increasing need for halal cosmetic products among the growing 2.4 billion Muslim customers across the globe is increasing. However, the demand for the cosmetics still stays unmet as cosmetics production is mostly controlled by the non-halal cosmetic manufacturers, whose manufacture process may not fit in with the requirements of its science. The innovative production and development of these cosmetics and the assessment of their product performance is still at a nascent stage. The integration of its science in the production of most cosmetic products remains insufficient.
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Market Dynamics:
The global Halal Cosmetics market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.
Competitive Landscape:
The research report offers details about leading companies in the global Halal Cosmetics market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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Major Companies:
- MMA Bio Lab Sdn Bhd,
- Talent Cosmetic Co., Ltd.,
- PHB Ethical Beauty,
- Ivy Beauty Corporation Sdn Bhd,
- The Halal Cosmetics Company,
- Sampure Minerals,
- INIKA,
- Amara Cosmetics, Inc.,
- Clara International,
- Martha Tilaar Group
Market Segmentation:
The report also sheds light on the market segmentation based on type, application and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Personal Care Products
- Color Cosmetics
- Fragrances
Application Outlook (Revenue, USD Billion; 2017-2027)
- Hair Care
- Skin Care
- Face Care
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Halal Cosmetics Market Segmentation based on Regions:
North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
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