Press release
Halal Cosmetics Market is Set to grow to $72.22 billion in 2028 at a CAGR of 14.4% During Forecast Period 2024-2030 | Key Players: INGLOT Cosmetics, J.L. Morison (India) Ltd., Clara International Beauty Group, Prolab Cosmetics, IVY Beauty Corporation
Halal Cosmetics Market Report
The Business Research Company offers in-depth market insights through Halal Cosmetics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Rising Muslim Population Fuels Growth In Halal Cosmetic
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.
Competitive Landscape:
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
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https://www.thebusinessresearchcompany.com/report/halal-cosmetics-global-market-report
Top Trend - Fostering Growth And Values Strategic Investments In The Halal Cosmetics Industry
Major companies operating in halal cosmetics are adopting strategic investments, such as Believe Pte Ltd's investment in IBA Cosmetics, to increase their presence in the expanding clean beauty industry. The Believe Pte Ltd. investment in IBA Cosmetics will assist in strengthening its distribution network, diversifying its range, and expanding in domestic and international markets. For instance, in November 2022, Believe Pte Ltd., a Singapore-based company that offers market-ready solutions, announced an investment of $10 million in IBE Cosmetics, an India-based Halal-certified and PETA-approved personal hygiene and vegan cosmetic brand, as part of a strategic alliance between two organizations with similar ideals. It mostly sells online via its website as well as portals such as Purplle, Amazon, Nykaa, Flipkart, and Bigbasket.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Halal Cosmetics Market Characteristics
3. Halal Cosmetics Market Trends And Strategies
4. Halal Cosmetics Market - Macro Economic Scenario
5. Halal Cosmetics Market Size And Growth
…..
27. Halal Cosmetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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