Halal Cosmetics Market Size in Saudi Arabia Expected to Reach $22.87 Billion by 2030 | Polaris Market Research
The size of the halal cosmetics market in Saudi Arabia is expected to reach $22.87 billion by 2030 according to a new study by Polaris Market Research.
The demand for the industry is increasing owing to the increasing inclination of the Muslim population towards its use along with the high quality and safety associated with the product. The demand from the industry is driven by the growing preference for strict adherence to the Halal code coupled with the growing internet penetration in the country resulting in increased options and easy product availability.
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Many initiatives have been taken by several Muslim countries to integrate Saudi industry. The Malaysian Chamber of Commerce Malaysia (MCCM) has made efforts to build an advertising center in Dubai. This would facilitate the growth and development of the industry and open up opportunities for manufacturers to publicize their product portfolio in several regions of the world, including Saudi Arabia.
Based on product, the industry is categorized into makeup, skin care, hair care, and others. Skincare products are expected to see growth in the near future due to the fact that women in the country recognize these skincare products as a way to achieve religious adherence. The many benefits attributed to skin care products include animal welfare, lack of long term side effects, lack of skin irritation and many more.
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The hair segment is also expected to witness a large share in the near future as the development of advanced hair care products provides long-lasting fragrance and conditioning and also helps in protecting hair volume.
Based on the distribution channel, the industry is further grouped into online and offline channels. The online channel is expected to experience significant growth. Easy comparison, extensive product portfolio and ease of use are some of the factors responsible for the growth of the online segment. The offline division is expected to drive the growth of the industry due to the reluctance to try online channels owing to certain factors such as the credibility and trust crisis and the well-established network of shopping malls across the country.
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Main Key Players
Major Participants such as PHB Ethical Beauty, MMA Bio Lab Sdn Bhd, Clara International, Martha Tilaar Group, Talent Cosmetic Co., Ltd, Intercosmetic Asia Pacific Sdn Bhd, Sampure Minerals, Amara Cosmetics, Inc., INIKA, Saaf Skincare, Prolab Cosmetics , IBA Halal Care, NUTRALab, Muslimah Manufacturing Sdn. Bhd., Zelcos and Nizona Corporation are the major players operating worldwide.
Polaris Market Research has segmented the halal cosmetics market in Saudi Arabia based on product and distribution channel:
Saudi Arabia Halal Cosmetics, Product Outlook (Revenue, USD Billion, 2018 – 2030)
- Skin care
- Hair care
- Make-up and color cosmetics
Saudi Arabia Halal Cosmetics, Distribution Channel Outlook (Revenue, USD Billion, 2018 – 2030)
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