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.
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.
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.
Complete Report Details @ https://www.marketresearchfuture.com/reports/halal-cosmetics-market-6665
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