Halal Cosmetics Market : Opportunities and Forecast Assessment, 2020–2027
The GMI Research expects the halal cosmetics market to expand at a significant rate. From a regional perspective, the Asia-Pacific is projected to dominate the market owing to the rising expenditure on personal care products, followed by the increasing awareness regarding the hazards of transdermal cosmetics and the rising demand for eco-friendly cosmetics, particularly in Asian economies.
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Halal Cosmetics Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The growing Islamic population base who are ready to buy premium Halal-certified beauty products is a significant driver surging the growth of the global halal cosmetics market size. Furthermore, the growing awareness regarding the use of cosmetic products is further boosting the growth of the halal cosmetics market during the forecast period. The largest part of the population is of the Muslim population across the globe, thereby the cosmetic market is focusing on increasing halal-certified products. Additionally, the growing standards of living and the rapid urbanization are some other factors boosting the demand for halal cosmetics in the market. Besides the domestic market, India is becoming a hub of exports for halal products, especially from the UAE, Bangladesh, Malaysia, and Saudi Arabia.
The rising cases of health-related diseases like breast cancer and genital abnormalities driven by cosmetics have fuelled the demand for various ingredients. Most of the populated Muslim economies, including Pakistan and Arab countries, are emerging as price-sensitive countries. Thereby, the major manufacturers emphasize on launching small packaging products at a reduced cost to avoid a one-time investment. In addition to this, the increasing desire of the young Muslim population is shifting their interest towards fashion & makeup with Islamic loyalties, which in turn, is further anticipated to stimulate the growth of the market. On the other edge of the spectrum, the factors hindering the market growth include the increased cost of halal cosmetics and limited standards guidelines for halal certifications during the forecast period.
Halal Cosmetics Market’s leading Manufacturers:
- MMA Bio Lab Sdn Bhd
- IVY Beauty Corporation
- Talent Cosmetics
- The Halal Cosmetics Company
- PHB Ethical Beauty Ltd.
- Sampure Minerals
- Amara Halal Cosmetics
- INIKA Organic
- Martha Tillar Group
- Clara International Beauty Group
Halal Cosmetics Market Segmentation:
Segmentation by Product:
- Skin care
- Hair care
- Makeup
- Other cosmetic products
Segmentation by Distribution Channel:
- Retail Sales
o Supermarkets/hypermarkets
o General departmental stores
o Drug stores
o Brand outlets
- Online sales
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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