Global Halal Cosmetic Product Market will multiply at an impressive CAGR of 14.1% by 2023 & Top Key Players Amara Cosmetics Inc., INIKA Cosmetics, Martha Tilaar Group, EL Asira, SAAF International, Samina Pure Makeup, Wardah Cosmetics, Zuii Organic.

“Halal Cosmetic Product Market: Global Demand, Growth Analysis & Opportunity Outlook 2023”

The halal cosmetic product market has been segmented by products into skin care, color cosmetics, hair care and fragrances and is distributed by various channels such as hypermarket/supermarket, convenience/departmental store, specialty store and online stores among others. The Islamic religion segment holds the largest consumer base of halal cosmetic products across the globe.

The Global Halal Cosmetic Product Market is estimated to reach USD 53 Billion by the end of 2023 by expanding at a promising compound annual growth rate of 14.1% over the period 2016-2023. The hygiene oriented cosmetic products combined with rising number of Muslim population and their preference towards halal cosmetic products are the major reasons that are driving the growth of the market. Further, the demand for cruelty free products among the population, especially the people following vegan lifestyle is expected to benefit the expansion of halal cosmetic product market with striking revenue in upcoming years.

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In the regional segment, dominance of Islamic culture is anticipated to make Middle East as the largest halal cosmetic product market with major consumer base across the region. Further, the halal cosmetic product market in Europe is estimated to grow with highest pace owing to presence of major and well-established cosmetic leaders in the region. The ban of animal testing for cosmetics and other products in 2009 drove many manufacturers to increase the production of plant based products, hence supplementing the growth of the halal cosmetic product market in the region. Increasing Muslim consumer base and demand for vegan-friendly cosmetics is anticipated to drive the growth of the Asia Pacific halal cosmetic product market.

Rising Awareness towards Vegan Friendly Cosmetics Reflect Significant Opportunities

The growth of the halal cosmetic product market is driving on the back of growing Muslim population and their need to use personal care products with no alcohol and animal products combined with growing awareness regarding vegan friendly personal care products. However, short shelf life of the organic products might hamper the growth of the halal cosmetic product market in the near future.

The report titled “Halal Cosmetic Product Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of the halal cosmetic product market in terms of market segmentation by product, by distribution and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the halal cosmetic market which includes company profiling of Amara Cosmetics Inc., INIKA Cosmetics, Martha Tilaar Group, EL Asira, SAAF International, Samina Pure Makeup, Wardah Cosmetics, Zuii Organic, Clara International and OnePure. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the halal cosmetic product market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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