Global Halal Cosmetics Market was valued at US$ 31 billion in 2019 and is expected to reach US$ 94 billion by 2027, at a CAGR of 15.02% during the forecast period.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Definition:
Halal cosmetics are the products that are manufactured, produced, and use of ingredients are permitted by Islamic Sharia law.
Global Halal Cosmetics Market Dynamics and Restrains:
The materials which are strongly prohibited by the Islamic society are not found in skincare and body product of halal cosmetics. A halal cosmetic is an innovative approach in the cosmetic industry. It presents new internal and external procedures according to the customer needs. Some factors that play an important role in halal cosmetics are the whole supply chain from sourcing of raw materials to manufacturing, goods handling and warehousing, and transportation.
The government pays more attention to halal cosmetic identification. The products should be manufactured without using gelatin, animal fat, and other unwanted chemicals. Halal cosmetics are certified by the Islamic Religious Department in Malaysia. Rising awareness of the consumers about halal cosmetics ingredients may increase the demand for halal cosmetics products. Halal cosmetics are beneficial for the Muslim and non-Muslim communities due to the nature of products, manufacturing processes, and good knowledge about ingredients used in products.
Usually, cosmetic products contain some harmful chemicals that may lead to skin diseases, cancer, and other disorders in that case consumers give good preference to halal cosmetics products. This reason is favorable for the rise in the growth of the global halal cosmetics market. Due to the increasing population of the Muslim community and the rising consumption of beauty products is expected to increase the growth in the global halal cosmetics products market in the future. The increasing number of working women creates a positive impact on the demand for the product and open more investment opportunity in the halal cosmetic industry.
On the other hand, people are less aware of halal cosmetics products so there is a decrease in the adoption rate and is hampering the growth of halal cosmetic products. Again, strict rules and regulation of government and domination of the non-Muslim companies restrain the demand for the products.
Many Manufacturers of halal cosmetic products are focusing on research and development of products in terms of consumer needs and demand. New opportunities come from the South Asian halal cosmetics market due to awareness about the halal cosmetic products and the existence of a huge Muslim population.
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Market Segmentation:
By the application segment, the global halal cosmetic products market is divided into Hair Care, Skin Care, Face Care, and Beauty Care. The hair care segment is anticipated to rise in terms of revenue. Another skin care, face care, and beauty care products also show a remarkable growth in the market.
Regional Analysis:
Region-wise, the global halal cosmetics market is classified into North America, South America, Europe, Asia Pacific, and the Middle East, Africa. The Asia Pacific is expected to have a major share in the market as countries like India, Bangladesh, Pakistan, Indonesia, Malaysia, and the Maldives are contributing with their improving socio-economic factors. Malaysia shows a huge demand for the product. Middle East countries like Saudi Arabia and the United Arab Emirates are important regions in this market due to the good income of Islamic society.
Key Developments:
• Iba Halal Care raised USD 3 million in Series-A funding from Addvantis Enterprises in September 2018 to produce an advanced product and help in increasing their market reach.
• In September 2018, Wipro Unza Holdings Ltd. launched “SERI” in Malaysia, the company’s advanced skincare R&D center. This center will help to produce consumer-specific products and provide modern technological improvements related to the products.
The objective of the report is to present a comprehensive analysis of the Global Halal Cosmetics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Halal Cosmetics Market dynamics, structure by analyzing the market segments and project the Global Halal Cosmetics Market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Halal Cosmetics Market make the report investor’s guide.
Scope of the Global Halal Cosmetics Market
Global Halal Cosmetics Market, By Product Type
• Personal Care Products
• Color Cosmetics
• Fragrance
Global Halal Cosmetics Market, By Application
• Hair Care
• Skin Care
• Face Care
• Beauty Care
Global Halal Cosmetics Market, By Distribution Channel
• Online
• Offline
Global Halal Cosmetics Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Halal Cosmetics Market
• Darling MMA Bio Lab Sdn Bhd
• Ivy Beauty Corporation Sdn Bhd
• Talent Cosmetic Co., Limited
• The Halal cosmetics company
• PHB Ethical Beauty
• Sampure Minerals Amara Cosmetics Inc.
• Inika
• Maratha Tilaar Group
• Clara International
• Saaf Skin care
• Prolab cosmetics
• IBA Halal Care
• NUTRALab
• Zelcos
• Nizona Corporation
• Croda
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