The global halal cosmetics market covered major segments by Type (Skin Care, Hair Care, Makeup, and Others), by Distribution Channel (Store-Based/Offline and Non-store-based/Online), and Regional Forecast, and Others.
Halal Cosmetics Market
Halal Cosmetics Market
Pune, India, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The global halal cosmetics market size was USD 37.62 billion in 2022 and is projected to grow from USD 42.39 billion in 2023 to USD 92.55 billion by 2030 at a CAGR of 11.80% during 2023-2030.
The increasing demand for natural ingredient-based cosmetics, chemical-free, and personal care products favors the halal cosmetics market growth. Major players continue to focus on R&D and advance activities, greatly enhancing sales and encouraging young Muslim women to associate their interests with halal-certified products.
Fortune Business Insights™ mentioned this in a report titled “Halal Cosmetics Market, 2023-2030.”
Companies leading the halal cosmetics market are Ivy Beauty Corporation Sdn Bhd (Malaysia), Iba Cosmetics (India), Talent Cosmetics (Korea), Clara International Beauty Group (Malaysia), Kao Corporation (Japan), Amara Halal Cosmetics (U.S.), INIKA Organic (Australia), Elaheh Halal Cosmetics Inc (U.S.), Flora & Noor (U.S.), Martha Tilaar Group (Indonesia), and more.
Report Scope & Segmentation:
Report Attributes
Details
Forecast Period
2023-2030
Forecast CAGR
11.80%
2030 Value Projection
USD 92.55 Billion
Market Size in 2022
USD 37.62 Billion
Historical Data
2019-2021
No. of Pages
165
Report Coverage
Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
By Type
By Distribution Channel
By Region
Regions Covered
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Halal Cosmetics Market Growth Drivers
Rising Consumer Demand for Product Quality and Safety to Favor Market Growth
Government Support to Increase Acceptance of Halal-Certified Cosmetics
Browse Detailed Summary of Research Report with TOC:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints-
Growing Demand for Safety and Product Quality to Drive the Market Growth
Halal-certified products are manufactured or sourced from organic solvents, vitamins, oils, proteins, botanical extracts, plants, and antioxidants. Manufacturers closely monitor the products to match the halal grade.
The price for halal-certified cosmetics is much higher than standard cosmetic products, thereby hindering the market growth.
COVID-19 Impact-
Disruption in Supply Chain amid Pandemic Hindered Market Expansion
The COVID-19 pandemic has disrupted supply chains globally during the pandemic. Small-scale halal-certified cosmetics manufacturers in emerging countries such as Malaysia, India, and others are challenged by price fluctuations and economic uncertainties affected by the pandemic.
Segments-
Halal Skin Care Products to Introduce New Product Globally to Drive the Market Growth
On the basis of type, the market is segmented into hair care, makeup, and others.
The skin care segment dominated the market share in 2022. Increasing acceptance and awareness of halal cosmetic products among consumers contributes to the popularity of halal-certified skincare products.
Store-based/Offline Distribution Channel Segment to Foster Market Growth
As per distribution channel, the market covers store-based/offline and non-store-based/online. Store-based/offline segment dominates the market. These products are typically sold in offline or in brick-and-mortar distribution channels as halal-certified cosmetic brands prefer to reach their consumers conveniently through different physical stores.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
North America to Hold the Largest Share of the Market Owing to New Business Opportunities
North America held the largest halal cosmetics market share in 2022. Recent years have noticed a subsequent rise in the number of new entrants in capitalizing on the business opportunities in the country.
Asia Pacific held the most noteworthy market share and is anticipated to witness healthy growth during the projected period. Prospective brands are estimated to focus on expanding across other Asian markets, such as Japan, in the coming years.
Detailed Table of Contents:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Overview of the Parent/Related Market
Regulatory Analysis
Industry SWOT Analysis
Market Analysis and Insights (In relation to COVID-19)
Impact of COVID-19
Supply Chain Challenges due to COVID-19
Potential Opportunities due to COVID-19
Global Halal Cosmetics Market Analysis, Insights and Forecast, 2019-2030
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Skin Care
Hair Care
Makeup
Others
Market Analysis, Insights and Forecast – By Distribution Channel
Store- based/ Offline
Non- Store based/ Online
Market Analysis, Insights and Forecast – By Region
Kao Corporation, Ivy Beauty Corporation Sdn Bhd, and Iba Cosmetics to Obtain Prominent Positions in Global Market
Kao Corporation, Ivy Beauty Corporation Sdn Bhd, and Iba Cosmetics lead the market with a significant market share. The key halal cosmetics companies focus on market penetration activities while strengthening their market presence to reach consumers/shoppers using an omnichannel distribution model. Numerous key market players, including PHB Ethical Beauty Ltd. benefit from halal product certifications.
Key Industry Developments:
August 2021: Kao Corporation, a Japanese manufacturer of halal cosmetics, in collaboration with Lion Corporation, a Japanese hygiene products manufacturer, developed recyclable packaging and minimized plastic footprint on the planet. Lion Corporation manufactures detergents, medications, soaps, and oral hygiene products.
Read Related Insights:
Skincare Market to Worth USD 167.22 Billion by 2030 | With a 6.21% CAGR
Hair Care Market to Worth USD 147.49 Billion by 2030 | With a Striking 5.8% CAGR
Cosmetics Market to Hit USD 417.24 Billion by 2030 | With a CAGR of 4.2%
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