Halal Cosmetics Market Size is Expected to Increase by $144,816.10

Halal cosmetics market

According to a new report published by Allied Market Research, titled “Halal Cosmetics Market 2020-2031”, the market size of halal cosmetics was valued at $30,685.40 million in 2020 and is expected to reach $144,816.10 million by 2020. by 2031, with a CAGR of 15.2% from 2022 to 2031. The report offers in-depth analysis of changing market trends, key segments, major investment pockets, regional scenario, five forces of Porter and the competitive scenario.

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The global halal cosmetics market is driven by the increasing Muslim population around the world and the booming halal market, which has now expanded its product base to meet the growing personal care and beauty needs of the Muslim population. . Halal certification enables the Muslim population to identify authentic products, thereby obeying the virtues of their religion, thus fueling the growth of the global halal cosmetics market.

According to the analysis of the global halal cosmetics market, the market is split by product type, application, distribution channel and geographical division. By product type, it includes personal care products, color cosmetics and fragrances. By application, it includes hair care, skin care, facial care, and beauty care. Based on distribution channel, the market is segmented into online and offline. By geography, it includes North America, Europe, Asia-Pacific and LAMEA markets. In addition, the report also covers the strategies adopted by major market players to maintain a competitive environment and increase their market share.

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Based on the distribution channel, the offline sales channel held the major market share for halal cosmetics. Offline distribution channels include stand-alone stores, retail stores, supermarkets and others in which products are displayed for consumers to have a direct view of the products which allows them to verify the authenticity of the products.

Among the product types, the fragrance segment is expected to have the highest CAGR during the forecast period for the Halal Cosmetics market, followed by color cosmetics. The color cosmetics segment is expected to be worth $48,801.5 million in 2031, registering a CAGR of 15.5%. Halal color cosmetics are widely adopted by the Muslim female population, especially among young people. The growing interest of the young Muslim population in makeup trends that adhere to religious loyalties has fueled the global demand for color cosmetics.

The demand for halal cosmetics across the halal cosmetics industry is expected to be driven by the increased purchasing power of the growing Muslim population and the strong desire of young Muslim women to combine their interest in fashion and the makeup to Islamic religious loyalties. These factors also provide lucrative opportunities for multinational cosmetic companies to enter the halal cosmetics market. Countries such as Saudi Arabia, Iran, UAE, Malaysia, and Indonesia provide potential growth opportunities for halal color cosmetics due to factors such as increasing young population , high disposable income and growing interest in fashion and makeup trends.

In the LAMEA region, the Middle East accounts for the highest market share owing to the presence of the Muslim majority countries which strictly adhere to religious commitments in their halal cosmetic products. However, Asia-Pacific is expected to show the fastest growth attributed to the growing Muslim population in Muslim-majority countries such as Malaysia, Singapore and Indonesia, as well as an increasing focus on personal and beauty care. .

The report includes a comprehensive analysis of key players operating in the market such as Amara Cosmetics, Iba Halal Care, Halal Cosmetics Company, Clara International, Inika, Wardah Cosmetics, PHB Ethical Beauty, Sampure Minerals, One Pure, Mena Cosmetics, and SaafSkinCare.

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Main results of the study

○ Personal care products held the majority of the market, accounting for nearly 37.4% of the total Halal cosmetics market.
○ The hair care segment held the major share of the market and is expected to remain dominant throughout the forecast period.
○ The online sales channel is experiencing a significant growth rate in the market.
○ The LAMEA region represents more than half of the total share in 2020.

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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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Donovan B. Sanford