Global Halal Cosmetics Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product Type (Skin Care, Hair Care, Make-Up, Others), By Sales Channel (Online, Offline), And By Geography - Forecasts From 2022 To 2027
- Published : Sep 2022
- Report Code : KSI061613161
- Pages : 127
The global halal cosmetics market is projected to grow at a CAGR of 7.84% during the forecast period, reaching a market size of US$113.325 billion in 2027 from US$66.818 billion in 2020. Halal cosmetics are such cosmetic products that do not include any animal-derived ingredients or genetically modified organisms that are considered unclean by Islamic law. As per Islamic law, a product derived from any parts obtained from animals in a non-halal way is prohibited, hence the concept of halal cosmetics was popularized in Islamic countries. Further, these cosmetics are preferred by Islamic consumers who are attentive to the ingredients used in manufacturing the respective products. And the increasing Islamic population is expected to increase the demand for halal cosmetic products. Moreover, the rising awareness among consumers about the cosmetics ingredients, most of which include animal by-products, coupled with increasing compliance with halal certifications is driving consumers toward halal cosmetics in non-Islamic countries. Additionally, the rising disposable income and the changing trend in the cosmetic industry are supporting the growth of the global halal cosmetics market during the forecast period.
The increasing skin health issues due to changing climate and rising awareness about animal cruelty-free products are contributing to the growing demand for the skin care segment in the halal cosmetic market.
It is widely known that climate change is affecting human beings in many different ways, one of which is skin issues. Exposure to harsh sunlight can cause pigmentation, rough skin texture, and lentigines-like issues among others. The rising awareness about such skin issues caused by climate change is creating a higher demand for skin care products among the end users of cosmetics in the market. Furthermore, the surging trend of skincare routines for naturally healthy skin along with the rising disposable income among the young generations is boosting the demand for skincare products in the market. Moreover, customers are aware of the availability of animal cruelty-free products like halal cosmetics in developed countries, which is further propelling the market demand for halal cosmetics in the market.
The rising Islamic population is boosting the demand for Halal cosmetics globally.
The rising Islamic population is one of the major factors behind the growing demand for halal cosmetics globally. Owing to a relatively young Muslim population, higher fertility rate, and relatively low religious conversion rate, the population following Islam is expected to grow in the future. Consequently, the demand for halal cosmetic products is expected to rise in the coming years, which will eventually boost the market growth of halal cosmetics.
The online sales channels are expecting a demand surge during the forecast period, owing to rising e-commerce activities all across the globe
The sales channel is segmented as online and offline sales channels. The E-commerce segment is thriving due to access to the internet coupled with the benefit of time-saving through the online sales channel. Moreover, the rising disposable income is aiding the sales of cosmetic products. Also, the online sales channels bestow the buyers with numerous benefits such as product comparison, review, convenient package delivery, easy return policy, and discounts among others, which is further boosting the online sales of halal cosmetics in the market. As per the Australian Trend and Investment Commission, fashion and beauty e-commerce sales grew 20.6% in 2020. Additionally, the gaining momentum of animal cruelty-free products on these online sales channels is expected to propel the market of global halal cosmetics during the forecast period.
The North American region is expected to witness significant growth during the forecast period.
On the basis of geography, the Halal cosmetics market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The global halal cosmetics market is led by sales in the North American region and has witnessed significant growth due to changing lifestyles coupled with increasing demand for value-added cosmetics products. The halal cosmetics market will also rise due to increasing per capita expenditure on cosmetics products and an increasing Muslim population residing in the North American region. Furthermore, the demand for halal cosmetics is expected to witness positive growth in the Middle East region due to the prevalence of Islamic countries like Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar. Moreover, the Asia Pacific region holds robust growth prospects over the forecast period owing to the growing Indian Muslim population that is expected to aid the demand for halal-certified cosmetics in this region.
- Azelis, a leader in global innovation service provider in the specialty chemicals and food ingredient industry announced the acquisition of Chemical Solutions Sdn Bhd, a leading distributor of raw materials in the personal care, cosmetics, and household market in July 2022. This acquisition enabled Azelis to strengthen its presence in the domestic market to gain benefits from the growing personal care market in Malaysia, especially the Halal cosmetic industry.
- In April 2021, BELIEVE, a Singapore-based halal cosmetics company, raises US$55 million in Series C funding led by Venturi. This funding is aiding the company's ability to build a diverse portfolio of products and a unique distribution network during the pandemic. Also, the fund is getting utilized to expand its presence in the GCC (Gulf Cooperation Council) and Southeast Asia through organic and inorganic growth.
The global pandemic had a significant impact on the global halal cosmetic market due to the unprecedented challenges faced by this market during this period. The shutdown of factories and shortage of raw materials coupled with operational restrictions levied by governments across the world adversely affected the production of halal cosmetics. Furthermore, the consumer focus shifted from buying non-essential products to essential goods, ultimately reducing the demand for halal cosmetics globally. Moreover, the lockdowns severely impacted the supply and production of halal cosmetics during the pandemic, which consequently hindered the market growth of halal cosmetics.
Key Market Segments
- By Product Type
- Hair care
- By Sales Channel
- By Geography
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL HALAL COSMETICS MARKET, BY PRODUCT TYPE
5.3. Hair care
6. GLOBAL HALAL COSMETICS MARKET, BY SALES CHANNEL
7. GLOBAL HALAL COSMETICS MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.3. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Amara Halal Cosmetics
9.3. Iba Cosmetics by ECOTRAIL
9.5. Clara International Beauty Group
9.6. INIKA Organic
9.7. PHB Ethical Beauty Ltd
9.8. HALAL BEAUTY COSMETICS
9.9. Claudia Nour Cosmetics
9.10. IVY Beauty Corporation
Amara Halal Cosmetics
Iba Cosmetics by ECOTRAIL
Clara International Beauty Group
PHB Ethical Beauty Ltd
HALAL BEAUTY COSMETICS
Claudia Nour Cosmetics
IVY Beauty Corporation
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