Global Halal Cosmetics Market Forecast to Hit $144.8 Billion by 2031; New Report

According to a new report published by Allied Market Research, titled, "Halal Cosmetics Market by Product Type (Personal Care Products, Color Cosmetics, Fragrances), by Application (Hair Care, Skin Care, Face Care, Beauty Care), by Distribution Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2020-2031". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future.

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The global halal cosmetics market is driven by rise in Muslim population globally and booming halal market, which has now extended its product base to meet the growing personal & beauty care needs of Muslim population. Halal certification enables Muslim population to identify the genuine products, thereby obeying the virtues of their religion, thereby fueling the growth of the global halal cosmetics market.

According to the global halal cosmetics market analysis, the market is divided by product type, application, distribution channel, and geographical division. By product type, it comprises personal care products, color cosmetics, and fragrances. By application, it includes hair care, skin care, face care, and beauty care. Based on the distribution channel, the market is segmented into online and offline. By geography, it includes North America, Europe, Asia-Pacific, and LAMEA markets. Further, the report also covers the strategies adopted by key market players in order to sustain competitive environment and increase their market share.

Based on distribution channel, offline sales channel held the major halal cosmetics market share. Offline distribution channels include standalone stores, retail stores, supermarkets, and others wherein the products are displayed for consumers to have a first-hand look at the products that enable them to check the authenticity of the products.

Among the product type, fragrance segment is expected to have the highest CAGR during the halal cosmetics market forecast period, followed by color cosmetics. The color cosmetics segment is expected to account for $48,801.5 million in 2031, registering a CAGR of 15.5%. Halal color cosmetics have widespread adoption among the Muslim women population, especially in the youth. Increase in interest of the young Muslim population toward make-up trends that adhere to the religious loyalties has fueled the demand for global color cosmetic products.

The demand for halal cosmetic products in the overall halal cosmetics industry is expected to be driven by increase in purchasing power of the growing Muslim population and significant desire among young Muslim women to associate their interest in fashion and makeup with Islamic religious loyalties. These factors also provide lucrative opportunities to the multinational cosmetic companies to enter the halal cosmetics market. Countries such as Saudi Arabia, Iran, UAE, Malaysia, and Indonesia offer potential growth opportunities for halal color cosmetics products owing to the factors such as increase in young population, high disposable income, and rise in interest in fashion and makeup trends.

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

The report includes comprehensive analysis of the key players in the 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.

Opportunities and Demands for the Expansion of Halal Cosmetics:

Opportunities:

Growing Muslim Consumer Market:
The global Muslim population is increasing, leading to a larger consumer base for Halal products, including cosmetics.
Muslim consumers often seek products that comply with their religious beliefs, creating a demand for Halal cosmetics.

Increased Awareness and Conscious Consumerism:
There is a growing awareness of the ingredients used in cosmetic products, leading consumers to seek more ethical and religiously compliant options.
Halal cosmetics appeal to conscious consumers who prioritize cruelty-free, ethical, and sustainable products.

Globalization and Cross-Cultural Appeal:
Halal cosmetics have the potential to appeal not only to Muslim consumers but also to a broader audience seeking ethical and high-quality products.
Expanding into diverse markets allows for increased sales and brand recognition.

Certification Standards and Trust:
Certification of Halal cosmetics ensures that products meet specific standards, providing trust and confidence to consumers.
Collaborating with reputable Halal certification bodies can enhance the credibility of the brand.

Demands:

Stringent Certification Processes:
Meeting the requirements for obtaining and maintaining Halal certification can be demanding. Companies need to ensure that their products adhere to strict standards.

Education and Awareness:
There is a need for extensive consumer education about the benefits and qualities of Halal cosmetics. Companies may need to invest in marketing campaigns to raise awareness.

Supply Chain Management:
Ensuring a fully Halal-compliant supply chain is essential, from sourcing raw materials to manufacturing and distribution. This can be a complex process that requires thorough management.

Regulatory Compliance:
Companies must navigate and comply with various international and local regulations related to cosmetic products, especially those pertaining to religious requirements.

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Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the halal cosmetics market analysis from 2020 to 2031 to identify the prevailing halal cosmetics market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the halal cosmetics market segmentation assists to determine the prevailing halal cosmetics market opportunity.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

Reasons to buy Halal Cosmetics Market Report:

➢ Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
➢ Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
➢ Classify potential new clients or partners in the target demographic.
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➢ Report will be updated with the latest data and delivered to you within 2-4 working days of order.
➢ Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
➢ Create regional and country strategies on the basis of local data and analysis.

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