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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