The global halal cosmetics and personal care products market size was USD 1936.13 million in 2021 and is expected to register a steady revenue CAGR of 5.61% during the forecast period. Key factors such as increase in compliance with halal certification, rising acceptance of halal cosmetics among consumers, changing lifestyle preferences, and growing global population are expected to drive global market growth during the forecast period.
Halal is an Arabic term, which means“permissible or lawful” and is the ultimate stamp of purity, safeguarding superior quality products. Halal cosmetics and personal care products do not contain ingredients derived from animals or genetically modified organisms, affirmed as unclean according to Islamic law. In addition, these products are alcohol-free and can be labelled as vegan or cruelty-free. Halal lipsticks, foundations, lip balms, rejuvenating creams, body lotions, moisturizers, perfumes and fragrances, and hair color cosmetics are some of the most popular halal cosmetics and personal care products. These products are rapidly gaining traction across both, Muslim as well as non-muslim population owing to changing lifestyle preferences, rising vegan population, and high preference for organically grown products. Many manufacturers are seen to heavily invest in developing unique and innovative halal cosmetics and personal care products and expand their product base to cater to rising consumer demand.
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Factors such as increasing preference for chemical-free and natural ingredient-based cosmetics and personal care products, rising disposable income, and increasing investments in developing unique and different formulations of halal cosmetics and personal care products are expected to drive global market growth during the forecast period.
However, factors such as increasing production cost of halal cosmetics and personal care products, higher processes for Halal-certified cosmetics as compared to standard cosmetic products, and low awareness about the benefits of these products are expected to hamper overall market growth going ahead.
Personal Care Segment To Register Rapid Revenue CAGR:
The personal care segment is expected to register rapid revenue CAGR during the forecast period. Factors such as increasing focus on personal appearance, growing interest in personal grooming in both men and women, rising availability of different types of Halal grooming and personal care products, and rising research on developing different formulation products are expected to drive segment revenue growth during the forecast period.
Skin Care Products Segment to Account for Largest Revenue Share:
The skin care products segment is expected to account for largest revenue share between 2023 and 2028. This can be attributed to high focus on skin health and personal appeal, rising availability of Halal-certified and Shariah-complaint products in many parts of the globe, growing acceptance of halal cosmetic products, and rising awareness about the benefits of these skincare products.
Asia Pacific Market To Register Robust Revenue Growth:
Asia Pacific market is expected to register robust revenue growth during the forecast period owing to presence of Islamic population, rapid urbanization, rising spending on personal care products, and growing awareness about benefits of halal cosmetics and personal care products. In addition, emergence of novel skincare manufacturers, rising availability of different types of halal cosmetics, and increasing investments in developing more effective and low-cost products are expected to drive Asia Pacific market growth during the forecast period.
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Halal Cosmetics and Personal Care Products Market By Company:
Martha Tilaar Group
PT Paragon Technology and Innovation
Wipro Unza Holdings
Halal Cosmetics and Personal Care Products Industry Recent Developments:
In October 2021, Dubai-based cosmetic brand Mikyajy announced the launched of GCC’s first fully halal-certified cosmetics line.
In January 2023, Flora & Noor, an inclusive skincare brand offering vegan, halal and cruelty-free products becomes the first halal certified skincare brand to be sold at Ulta Beauty.
The global halal cosmetics and personal care products market has been segmented based on type, application, and region:
Halal Cosmetics and Personal Care Products Market Segment by Type:
Halal Cosmetics and Personal Care Products Market Segment by Application:
Hair Care Products
Skin Care Products
Color Cosmetics Products
Halal Cosmetics and Personal Care Products Market Segment by Region:
North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (Saudi Arabia, U.A.E, Egypt, Nigeria, South Africa, Rest of MEA)
Key Reasons to Purchase:
Estimates 2023 to 2028 halal cosmetics and personal care products market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the halal cosmetics and personal care products market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global halal cosmetics and personal care products market
Key Questions Addressed:
What revenue CAGR is the global market expected to register during the forecast period?
What are the outcomes of Porter’s Five Force analysis?
Based on application, which segment is expected to account for largest revenue share throughout the forecast period?
What are some key opportunities and risks that the vendors in the global market expected to face during the forecast period?
What key factors are expected to drive global market revenue growth during the forecast period?
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