Halal Cosmetics Products Market Growth, Rising Revenue, Challenges, Business Opportunities, Key Players, and Future Forecast till 2033: SPER Market Research
Global Halal Cosmetics Market is projected to be worth USD 140.92 billion by 2033 and is anticipated to surge at a CAGR of 12.99%.
Halal goods are cosmetics that adhere to Islamic principles and are appropriate for use by Muslims and those who observe halal regulations. They are produced using ethical and sustainable practices, and they don’t include any prohibited substances like alcohol or pork-based products. Halal certification ensures compliance by verifying that production and componentry meet halal standards.
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 Halal Cosmetics Market is predicted to reach USD 140.92 billion by 2033 with a CAGR of 12.99%.
Drivers: A increasing Muslim population, increased consumer awareness, and a growing desire for natural and ethical products are all contributing to the rapid expansion of the halal cosmetics sector. As consumers increasingly more aware of the ingredients in cosmetics and search for substitutes that satisfy their ethical and dietary needs, the market for cosmetics with the Halal certification is expanding. Customers who value their health and favor natural ingredients are drawn to Halal cosmetics because they are perceived as being free of harmful chemicals and animal byproducts due to their adherence to Islamic regulations.
Challenges: One of the main problems facing the halal cosmetics industry is the absence of uniform international standards and certifications. Because different organizations may certify Muslims in different ways, halal compliance can be regarded differently depending on the nation or region. Confusion and inconsistency brought on by this lack of rules may make it difficult for consumers and enterprises to properly navigate the market. To address this difficulty, multinational Halal certification organizations must work together more closely in order to set standardized criteria and maintain consistent product quality and compliance across borders. Creating a single, globally recognized certification process for Halal goods will boost customer trust and encourage the growth of the sector.
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Impact of COVID-19 on Global Halal Cosmetics Market
The supply chain for halal cosmetics was interrupted by trade and transit restrictions brought on by the COVID-19 pandemic, which may have resulted in delays and higher prices. However, the market for halal cosmetics has grown as a result of shifting consumer preferences, especially in countries with a majority of Muslims. Health and ethical issues are driving this demand. Online sales of halal cosmetics surged as a result of the pandemic’s growing embrace of e-commerce, which was fueled by people’s preference for the convenience and security of home shopping. However, the market for cosmetics in general, and halal cosmetics in particular, was impacted by lower disposable income due to job losses and unstable economic situations.
Halal Cosmetics Market Key Players:
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, and Kao Corporation are also some of the major competitors in the market.
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