Halal Cosmetic Market Research Report
Halal Cosmetic Market:
The GMI Research's latest analysis reveals that the Halal
Cosmetic Market is slated to register a significant CAGR over the forecast
period. This is majorly attributed to the rising awareness regarding cosmetic
products, the growing standards of living, and the increasing urbanization.
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Halal Cosmetic 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 Cosmetic Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The increasing Islamic population base who are ready to buy
premium Halal-certified beauty products is a major factor fuelling the growth
of the global halal cosmetic
market size. Furthermore, the rising awareness regarding the use of
cosmetic products will further boost the growth of the halal cosmetic market.
The largest part of the population is of the Muslim population globally, thus
the cosmetic market is focusing on increasing halal-certified products.
Moreover, the growing standards of living and the increasing urbanization are
other factors propelling the halal cosmetic market's demand. Besides the
domestic market, India is becoming a hub of exports for halal products,
particularly from the UAE, Bangladesh, Malaysia, and Saudi Arabia.
The growing cases of health-related diseases, including
breast cancer and abnormalities driven by cosmetics have bolstered the various
ingredients. Most of the populated Muslim economies like Pakistan and Arab
countries are emerging as price-sensitive countries. Thereby, the major players
are emphasizing on launching small packaging products at a reduced-price range
to prevent a one-time investment. Additionally, the increasing desire of the
Muslim population is drastically shifting their interest towards fashion &
makeup with Islamic loyalties will further anticipate stimulating the growth of
the market. However, the high cost of these cosmetics and the restricted
standard guidelines for halal certifications will hinder the growth of the
halal cosmetic market during the forecast period.
Product
Segment Drivers
Based on the product, skincare is expected to lead the
market due to the growing awareness regarding the various exceptional benefits
provided by the skincare products. The majority of the cosmetic product consists
of ingredients that may cause skin irritation and have long-term side effects
on health. This factor is promoting the people to opt for halal skincare to
prevent health and skin-related diseases. The high adoption of the modern
lifestyle and the increasing disposable income will further stimulate market
growth.
Halal Cosmetic 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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