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Halal Cosmetics Market 2024 - By Share, Growth, Demand, Trends, Opportunities And Outlook 2033
Halal Cosmetics Market
The Business Research Company presents an extensive market research report on the Halal Cosmetics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The halal cosmetics market size has grown rapidly in recent years. It will grow from $36.8 billion in 2023 to $42.15 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to rising Muslim population, increased awareness of halal practices, cultural and religious sensitivity, globalization and cross-cultural influences, ethical consumerism.
The halal cosmetics market size is expected to see rapid growth in the next few years. It will grow to $72.22 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to expanding middle-class Muslim consumers, demand for natural and organic products, inclusive marketing strategies, sustainability and eco-friendly practices, global halal certification standards. Major trends in the forecast period include certification and transparency, rise of e-commerce, clean and natural ingredients, innovation in product development, customization and personalization.
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Key Market Players:
Major companies operating in the halal cosmetics market report are INGLOT Cosmetics, J.L. Morison (India) Ltd., Clara International Beauty Group, Prolab Cosmetics, IVY Beauty Corporation, PHB Ethical Beauty Ltd., Amara Beauty, INIKA Organic Australia, Martha Tillar Group, The dUCk Group Sdn Bhd, Honeybee Gardens LLC, IBA Cosmetics, Ecotrail Personal Care Sdn Bhd, Sampure Minerals, Maryaj Perfumes Pvt Ltd., Saaf Skincare, Wardah Cosmetics, OnePure International Group Ltd., Talent Cosmetics, Pure Halal Beauty LLC, Flora & Noor Cosmetics LLC, Mikyajy Kosmetik Sdn Bhd, Muslimah Manufacturing Sdn Bhd, SirehEmas Global Sdn Bhd, Amsons Laboratories Pvt Ltd., The Halal Cosmetics Company Ltd., T'ZIKAL Beauty Sdn Bhd, Amreen Cosmetics Pvt Ltd., Cotarde France, Halal Beauty Cosmetics
Market Drivers:
The increasing Muslim population is expected to propel the growth of the halal cosmetic market going forward. The term """"increase in Muslim population"""" refers to an increase in the number of Muslims in a specific region, country, or world. This growth can be due to several factors, including higher birth rates among Muslim families, Muslim immigration from other countries, and conversion to Islam. As the Muslim population grows, there is an increasing demand for halal cosmetics as more Muslim consumers seek products that align with their religious beliefs. For instance, in April 2023, according to Prayer Times, an Indian-based Islamic organization, it is estimated that there will be over 2.01 billion Muslims in the world by 2023. The global Muslim population will reach 2.2 billion by 2030, according to the Pew Research Centre. Therefore, the increasing Muslim population is driving the growth of the halal cosmetics market going forward.
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https://www.thebusinessresearchcompany.com/report/halal-cosmetics-global-market-report
The halal cosmetics market covered in this report is segmented -
1) By Type: Skin Care, Hair Care, Makeup, Others
2) By Distribution Channel: Offline, Online
3) By End User: Men, Women, Unisex
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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