Halal Cosmetics Market Key Drivers, Insights, Outlook, Overview And Market Research Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Halal Cosmetics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Product innovations are a key trend gaining popularity in the halal cosmetic market. Major companies operating in the halal cosmetic market are adopting new technologies to sustain their position in the market. For instance, in June 2021, Flora and Noor, a US-based skincare brand with halal, vegan, and cruelty-free products, launched a line of halal skin care. It includes cleansers, toners, serums, moisturizers, and masks, as well as body products such as body butter, scrubs, and bath bombs. Halal skincare items are those that are free of animal by-products and alcohol.

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Major Key Players of the Market:

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

Halal Cosmetics Market 2024 Key Insights:

• 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%.
• Rising Muslim Population Fuels Growth In Halal Cosmetic
• Halal Cosmetic Market Thrives On Product Innovations For The Modern Consumer
• Asia-Pacific was the largest region in the halal cosmetics market in 2023

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