Knowledge Sourcing Intelligence announces the publication of a new report on “Halal Cosmetics Market - Forecasts from2020 to 2025" to their offering.
‘Halal’ is an Arabic term which means ‘lawful’. Halal cosmetics are manufactured by using ingredients which are permissible according to the Islamic Sharia Law. Cosmetics which are Halal-certified do not contain ingredients obtained from animals which are prohibited by the Islamic Law. Halal cosmetics are also free from genetically modified organisms (GMO) since they are considered unclean.
According to the report, the Halal Cosmetics Market is projected to increase at a CAGR of 6.64% in the coming years.
Growing Muslim Population
Halal cosmetics are specifically used by Muslim women. As such, rising global Muslim population base is the major driver of global halal cosmetics market. Diverse tastes and interests of the Muslim women residing in different regions/countries, supported by rising disposable incomes and living standards is boosting the demand for halal cosmetics among Muslim women. As such, manufacturers of cosmetics are increasingly trying to get halal certification so as to capture a significant share in this lucrative market, thereby driving the market growth of halal cosmetics. Since halal-certified cosmetics are also from GMO and other ingredients that are harmful to environment, rising awareness among consumers about various ingredients being used in cosmetics is further spurring the demand for halal cosmetics among non-Muslim consumer base. Since Halal implies the safety and quality of ingredients and the manufacturing process in a very strict manner, halal-certified cosmetics are increasingly used by people who want to wear makeup without harming their skin and environment which is often caused by non-halal ingredients. This, in turn, is further bolstering the market growth of halal cosmetics.
By product type, global halal cosmetics market is segmented into skincare, haircare, makeup, and others. Makeup segment is projected to grow at a noteworthy compound annual growth rate during the forecast period.
By sales channel, online segment is projected to witness a significant CAGR between 2019 and 2025 owing to the booming e-commerce industry worldwide. Rising proliferation of smartphones and increasing penetration of better internet connectivity is inducing people to shop cosmetics online from genuine online stores available. Moreover, manufacturers are also inclined towards this sales platform and are launching new products directly on these online platforms to expand their market reach worldwide.
Geographically, Halal Cosmetics market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. With growing Muslim population in countries like the United States and the United Kingdom, halal cosmetics manufacturers are increasingly expanding their reach in the North American and European regional markets. As such, these regional markets for halal cosmetics are projected to witness a significant CAGR during the forecast period. In March 2017, the UK supermarket chain Asda became the first major UK retailer to stock a halal skincare range, offering products for both men and women. The demand for halal cosmetics is high in countries like Saudi Arabia, the United Arab Emirates, Kuwait, Indonesia, and Malaysia where Muslim population is high. As such, the Middle East and Africa and APAC region hold significant market share in the global halal cosmetics market. These markets are still not fully tapped, leading manufacturers to keep expanding their customer base in these regions, thus positively impacting the overall market growth of halal cosmetics throughout the forecast period.
The major players covered as part of the report are Amara Halal Cosmetics, Wardah, ECOTRAIL, L'Oreal, Clara International, Iba Halal Care, INIKA Organic, IVY Beauty Corporation Sdn Bhd, PHB Ethical Beauty Ltd, and WIPRO Unza (M) Sdn Bhd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-halal-cosmetics-market
This report has segmented the Halal Cosmetics marketon the basis following terms: