Halal Cosmetics Market Growth 2023, Industry Share, Emerging Trends, Revenue, Business Challenges, Future Opportunities and Forecast to 2033: SPER Market Research
Halal cosmetics are made from halal ingredients, which include oils, organic solvents, plants, botanical extracts, proteins, vitamins, and antioxidants. This is because Islamic law forbids the use of ingredients derived from pigs, carrion, blood, human body parts, predatory animals, reptiles, and insects. Furthermore, these items are manufactured, processed, stored, and transported in accordance with halal-certified cosmetic standards for quality and safety. Because of this, halal skincare products provide an ensured standard, and the halal emblem is seen as a sign of product quality assurance and safety, which helps explain why halal cosmetics are becoming more popular.
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%.
Some of the major factors favorably impacting the market throughout the world are the growing number of Muslims, the growing awareness of beauty among people, and the growing desire for fashionable beauty goods and personal grooming that comply with religious needs and beliefs. Demand for natural and organic beauty and personal care products with clinical qualities is also being driven by growing consumer knowledge of sustainable living practices and environmental problems related to non-halal cosmetic goods.
Furthermore, growing customer requirements for items’ safety and quality.
Cosmetics are created or derived from halal sources, including oils, proteins, vitamins, organic solvents, plant and botanical extracts, and antioxidants. All of these ingredients are combined in a complex way to manufacture them in accordance with halal regulations. Manufacturers keep a close eye on the products to guarantee that they are halal.
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There are some challenges hamper the market growth. Cosmetics bearing the halal certification are far more expensive than non-halal cosmetics. Even though consumers give quality and safety a lot of thought when making purchases, price still rules the market. Consumers in developing countries such as China, India, Brazil, and others are moving from halal-type cosmetics to regular cosmetics because of cost. Higher price points will therefore most likely prevent the halal cosmetics market from growing as quickly as predicted.
Impact of COVID-19 on Global Halal Cosmetics Market
The COVID-19 epidemic caused interruptions in the halal cosmetics supply chain due to transportation and trade restrictions, resulting in probable delays and higher costs. However, consumer attitudes have shifted, with a rising demand for halal cosmetics, particularly in Muslim-majority nations, motivated by health and ethical concerns. The pandemic also increased e-commerce use, resulting in increased online sales of halal cosmetics as consumers preferred the security and comfort of shopping from home. Reduced disposable income as a result of economic uncertainty and job losses, on the other hand, had an influence on the broader cosmetics business, including halal cosmetics.
Halal Cosmetics Market Key Players:
Furthermore, Due to the increase in the Muslim population in Middle Eastern nations including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and others, LAMEA currently leads the worldwide halal cosmetics market. Due to the increase in the Muslim population in Muslim-majority nations like Indonesia, Malaysia, and Singapore, Asia-Pacific is anticipated to develop significantly over the projection period. Additionally, some of the market key players are Amara Halal Cosmetics, Brataco Group of Companies, Clara International Beauty Group, Elaheh Halal Cosmetics Inc, Flora & Noor, IBA Halal Care, INIKA Organic, Ivy Beauty Corporation Sdn Bhd, Kao Corporation.
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 Analysis
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