The halal cosmetics market is expected to grow from US$ 36,686.54 million in 2022 to US$ 79,861.73 million by 2028; it is estimated to grow at a CAGR of 13.8% from 2022 to 2028.
According to our latest market study on " Halal Cosmetics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Skincare, Haircare, Makeup, and Others), Category (Men, Women, and Unisex), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others)” The report highlights key factors driving the halal cosmetics market and prominent players and their progress in the market.
The halal cosmetics market is expected to grow from US$ 36,686.54 million in 2022 to US$ 79,861.73 million by 2028; it is estimated to grow at a CAGR of 13.8% from 2022 to 2028. Halal cosmetic products are cosmetic products that adhere to Islamic standards, i.e., cosmetic products free from pig-derived and other forbidden ingredients. Halal cosmetic products are also wudu–friendly (permeable to water) as required by Islamic standards.
Clara International Beauty Group; Inglot Cosmetics; Inika Organic Australia; IVY Beauty Corporation; MMA Bio Lab Sdn Bhd; OnePure, LLC; PT Paragon Technology and Innovation; PHB Ethical Beauty Ltd.; Sampure Minerals; and IBA Cosmetics are the well-established players constituting the majority of the halal cosmetics market share.
There has been a growing awareness among the consumers about the harmful effects of synthetic cosmetics, such as respiratory distress and skin allergies, which has shifted consumers’ preference toward halal cosmetics. Moreover, the rise in the Muslim population across the world and an increase in the spending by the Muslim population on cosmetic products are augmenting the expansion of the halal cosmetics market. With the growth envisaged in the coming years, new start-up cosmetics players are emerging, and the sector is diversifying its product portfolio.
Also, the increased penetration of online retail has provided growth opportunities for halal cosmetics manufacturers to sell their products via online platforms to increase their reach. An increased number of manufacturers is leveraging the reach of social media to spread awareness about halal cosmetics to consumers. Along with this, men and women especially in urban areas are showing increased interest and awareness towards halal certified cosmetic products. The increased demand from Southeast Asian countries for halal cosmetics is also driving the halal cosmetics market growth.
The report aims to provide an overview of the market with detailed market segmentation. The market is segmented based on product type, category, distribution channel, and geography. Based on product type, the market is segmented into skincare, haircare, makeup, and others. In terms of category, the market is segmented into men, women, and unisex. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2020, Asia Pacific dominated the halal cosmetics market and is expected to be the fastest-growing region over the forecast period. The countries in the Asia Pacific are emerging markets for halal cosmetics. This can be attributed to the increasing awareness about animal welfare and the harmful effects of synthetic cosmetics. Moreover, the increase in the population of Muslims in the countries across Asia Pacific is driving the demand for halal cosmetic products.
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