New York, USA, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global halal cosmetics market size was USD 40.51 billion in 2023. The market is anticipated to hit USD 113.05 billion by 2032, with a robust CAGR of 12.1% during 2024 - 2032.
Market Introduction:
What is Halal Cosmetic?
Halal cosmetics areproductsthat are manufactured in accordance with the guidelines of Islamic law. This means products cannot contain ingredients derived from animals, as these are considered unclean according to Islamic law. Additionally, halal cosmetics ensure that no alcohol or fat, blood, or flesh from animals is used in their production, packaging, or distribution.
To be considered a halal beauty brand, a business must undergo a halal certification and assessment process. From the sourcing of raw materials to manufacturing processes and distribution, the entire supply chain must undergo a comprehensive assessment process to obtain halal certification. Although there is limited availability of halal-certified products, the growing demand for halal products among Muslim women is prompting more personal care and beauty companies to offer halal beauty and personal care products.
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Key Market Stats:
- The global halal cosmetics market size was valued at USD 40.51 billion in 2023.
- The halal cosmetics industry is likely to rise from USD 45.33 billion in 2024 to USD 113.05 billion by 2032.
- It is expected that the market will exhibit a CAGR of 12.1% during the forecast period.
Major Findings from Report:
- The market is experiencing significant growth due to factors including growing awareness about halal products among consumers, rising disposable income among the middle-class population, and increasing consumers’ preference for cruelty-free and sustainable products.
- The market is primarily segmented on the basis of product, application type, distribution channel, and region.
- Based on region, the market in Asia Pacific recorded a significant growth rate in 2023.
Halal Cosmetics Market Drivers and Trends:
- Rising Disposable Income: The halal cosmetics market growth is majorly driven by the rising disposable income and spending power of the middle-class population in regions with significant Muslim populations, including Southeast Asia, the Middle East, and parts of Africa.
- Awareness of Halal-Certified Cosmetics: Consumers, particularly in Muslim-majority regions, are becoming increasingly conscious of the ingredients used in cosmetic products and are actively seeking items that comply with halal certification guidelines. In response, cosmetic manufacturers are placing greater emphasis on religious compliance in their product offerings to obtain halal certification, thereby driving halal cosmetics market demand.
- Consumers’ Focus on Cruelty-Free and Sustainable Products: Beyond the Muslim community, a growing number of consumers are interested in purchasing ethical, cruelty-free, and clean beauty products. The demand for halal cosmetics is increasing as consumers seek alternatives to conventional cosmetics, which often contain synthetic chemicals and animal-derived ingredients. Halal cosmetic products adhere to strict ethical guidelines, prioritizing cruelty-free and clean beauty products. Consequently, the growing demand for ethical products is driving market expansion.
Market Challenges:
DifferentHalal certificationagencies have varyingstandardsandrequirements, making it challenging for examiners to perform a standardized assessment. The lack of a uniform Halal certification standard is expected to hinder market growth. Moreover, mainstream cosmetic brands are increasingly launching separate product lines to meet the rising demand for ethical and Halal-certified products, which is another key factor likely to restrain halal cosmetics market growth.
Industry’s Prominent Players:
- Clara International
- IBA Halal Care
- INGLOT Cosmetics
- Inika
- Ivy Beauty Corporation
- One Pure
- PHB Ethical Beauty
- SABA Personal Care
- Sampure Minerals
- Talent Cosmetic Co. Ltd.
- The Halal Cosmetics Company
- Wardah Cosmetics
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Geographical Landscape:
Based on region, North America registered the largest halal cosmetics market share due to rising consumer demand for halal-certified products. Consumers in the region are looking for products with ingredients and production processes that align with their ethical and religious preferences. Further, North America’s strong regulatory framework and consumer protection guidelines have driven consumer demand for halal-certified cosmetics, thereby fostering market growth.
The market also recorded a significant growth rate in the Asia Pacific because of the growing cosmetics industry infrastructure, significant Muslim population, and consumer awareness and demand for products that comply with Islamic principles. The cultural and religious importance of halal products resonates strongly with consumers in these regions, significantly influencing their purchasing decisions in favor of halal cosmetics.
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Market Segmentation:
Halal Cosmetics Market Breakdown by Product Outlook
- Personal Care
- Color Cosmetics
- Fragrance
Halal Cosmetics Market Breakdown by Application Outlook
- Skin Care
- Hair Care
- Face Care
Halal Cosmetics Market Breakdown by Distribution Channel Outlook
- Online
- Offline
Halal Cosmetics Market Breakdown by Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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