Worldwide Halal Cosmetics Market is projected to accrue over US $22.56 billion by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
The global halal cosmetics market is gaining traction owing to the rise in Muslim population, coupled with their increasing purchasing power. Moreover, the rising demand is inducing market players to develop new products.
In the present scenario, consumers have been showing huge interest in halal cosmetics & personal care products. This can be attributed to the growing consumer awareness regarding the significance of personal hygiene, and improved lifestyles resulting from higher disposable income. As per market analysts, as halal cosmetics are gaining popularity since they are different from the conventional cosmetics and do not contain alcohol, porcine by-products and their derivatives. Also, these products are devoid of ingredients that are in contrast to Islamic beliefs.
Halal cosmetics are usually produced, packaged, and distributed on the basis of Islamic teachings, plus, these products are considered as clean, safe, and of high-quality. The significant increase in the Muslim population around the world is likely to provide plenteous growth opportunities to the halal cosmetics & personal care industry. Moreover, the speedily growing economic power of the Islamic countries is expected to influence their spending on various beauty & personal care products.
According to the report, the burgeoning number of issues related to environmental and health hazards have significantly impacted the cosmetics industry. Certain health hazards like breast cancer, distortion, genital abnormalities, etc. are said to result from the excessive use of cosmetic products containing nano-particle ingredients. Moreover, the soaring number of these incidences has amplified consumer awareness regarding the constituents of beauty products, thereby stimulating the demand for halal personal care and cosmetic items.
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However, less knowledge about the presence of numerous halal cosmetic brands is posing a challenge to the industry, and as a result of this, the industry is not witnessing the demand that was expected. Hence, manufacturers are required to work on their marketing strategies as well as production facilities.
The product spectrum of the halal cosmetics market can be segmented into personal care, fragrance, and color cosmetics. Furthermore, these products are distributed globally through both online and offline media. In terms of application, the market can be bifurcated into skin care, face care, hair care, and others.
The geographical landscape of the global halal cosmetics market comprises North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. The North America market is further fragmented into the US and Canada, while the Latin American market is divided into Brazil and Mexico. The European market consists of the UK, France, and Germany. The Asia Pacific market covers India, China, Japan, Malaysia, and Indonesia, and the MEA region comprises the UAE, Turkey, Saudi Arabia, Nigeria, Qatar, and Egypt. Market researchers claim that the APAC region is slated to lead the global halal cosmetics market by virtue of the presence of high Islamic population in developing APAC nations including India, Malaysia, Pakistan, Indonesia, Bangladesh and the Maldives.
The leading companies operating in the worldwide halal cosmetics market include Mena Cosmetics, The Halal Cosmetics Company, PHB Ethical Beauty, Ivy Beauty Corporation Sdn Bhd, Talent Cosmetic Co. Ltd., Amara Cosmetics, MMA Bio Lab Sdn Bhd, Saaf SkinCare, Sampure Minerals, Wardah Cosmetics, One Pure, IBA Halal Care, Clara International, Inika, and Prolab.