Halal Cosmetics Market Growth and Share 2023- Upcoming Trends, Revenue, CAGR Status, Business Challenges, Future Opportunities and Forecast Report 2033: SPER Market Research
Cosmetics made in compliance with Islamic principles are known as halal cosmetics. They follow ethical production procedures and don’t use substances made from animals that aren’t halal. In addition to Muslim customers, halal cosmetics also appeal to others looking for ethical and animal-free goods. The sector has bright possibilities for growth because to the expanding middle class in emerging nations. A cosmetic item must adhere to particular standards before it can be deemed halal, and these standards might change depending on the certifying body or organisation.
According to SPER market research, ‘Halal Cosmetics Market Size By Product Type, By Application, End-User, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Halal Cosmetics Market is predicted to reach USD 140.92 billion by 2033 with a CAGR of 12.99%.
Government support and initiatives in countries with significant Muslim populations have created a conducive regulatory environment for the development and sale of halal products, including cosmetics, thereby boosting the market. Additionally, globalization and e-commerce have expanded the market reach of halal cosmetics, making them more accessible to consumers worldwide. Increased investment in research and development has led to a broader range of innovative halal cosmetics available in the market. The rising awareness of health and wellness among consumers has further contributed to the demand, as they seek products with natural ingredients and no harmful chemicals, in line with the principles of halal cosmetics.
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Halal cosmetics encounter cross-cultural sensitivities, necessitating adaptation to diverse global markets while maintaining Halal compliance. Ensuring Halal integrity throughout production and distribution poses challenges, requiring robust monitoring to prevent mislabelling and fraudulent claims. Adhering to varying regulations in different countries while maintaining product consistency is a challenge for international businesses. Limited distribution channels, particularly in regions with low Halal awareness, can hinder market reach. Building consumer trust and credibility may take time due to unfamiliarity with the concept and potential misconceptions about the quality and efficacy of Halal products.
Impact of COVID-19 on Global Halal Cosmetics Market
The COVID-19 pandemic had significant impacts on the global halal cosmetics market. Consumer preferences shifted, with increased demand for halal products, especially in Muslim-majority countries, due to health and ethical considerations. The pandemic also led to an e-commerce surge as consumers preferred online shopping from home. Reduced disposable income due to economic uncertainties affected overall cosmetics sales, including halal products. Many companies delayed product launches and marketing campaigns, potentially slowing market growth. Smaller halal cosmetic brands faced financial difficulties, leading to industry consolidation with larger companies. Additionally, heightened awareness of safety and hygiene positively influenced the demand for halal-certified items.
Halal Cosmetics Market Key Players:
Geographically, Middle East emerged as the dominant region in the Halal Cosmetics industry. In the Middle East, Saudi Arabia is also one of the major markets for cosmetics and fragrances. Consumer spending on cosmetics in the nation is typically high, supporting the industry’s expansion. The nation’s large concentration of Muslims has led to an increase in demand for halal cosmetics and perfumes. Due to these considerations, internet merchants and major international companies have been able to increase their product selection. Additionally, some of the market key players are INIKA Organic, IVY Beauty Corporation, Clara International Beauty Group, The dUCk Group, IBA Halal Care, Others.
Global Halal Cosmetics Market Segmentation:
By Product Type: Based on the Product Type, Global Halal Cosmetics Market is segmented as; Personal Care Products, Colour Cosmetics, Fragrances.
By Application: Based on the Application, Global Halal Cosmetics Market is segmented as; Beauty Care, Face Care, Hair Care, Skin Care.
By End-User: Based on the End-User, Global Halal Cosmetics Market is segmented as; Men, Women, Unisex.
By Distribution Channel: Based on the End-User, Global Halal Cosmetics Market is segmented as; Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Multi-brand Stores, Online Retailing, Other Sales Channel.
By Region: This research also includes data for Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
Halal Cosmetics Market Future Demand
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