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 those products in which no animal product is used; they are completely free from animal-derived ingredients and are named halal according to Islamic law.
Based on product type, the global halal cosmetics market is segmented into skincare, haircare, makeup, and others.In 2020, the skincare segment led the halal cosmetics market.
The growing awareness about skin-friendly beauty products and the benefits of skin nourishment products in cosmetics is providing growth opportunities for the skincare segment in the halal cosmetics market. The expansion of the halal cosmetics industry to different customers base has resulted in a massive global increase in demand for the products, as well as an increase in acceptance of their development in the skincare market.
The halal cosmetics market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA).In 2021, Asia Pacific dominated the global market.
The changing lifestyle of consumers and the increased awareness about animal welfare are driving the demand for halal cosmetics in Asia Pacific.Moreover, the increased population of Muslims in Southeast Asian countries and increased spending on cosmetic products are driving the halal cosmetics market.
The Middle East & Africa is the second-largest market for halal cosmetics, and Asia Pacific is expected to be the fastest-growing region in the halal cosmetics market. The rapidly expanding e-commerce platforms, rapidly increasing Muslim population, and growing consumer preference for natural & effective cosmetic products is driving the halal cosmetics market in the Middle East and Africa.
Many industries, such as the consumer goods industry, faced unprecedented challenges due to the COVID-19 pandemic.The shortage of raw materials and labor, the shutdown of factories, and other operational difficulties due to COVID-19 safety protocols adversely affected the halal cosmetics market.
The lockdown severely impacted the supply and production of halal cosmetics, thus, restraining the market’s growth.However, vaccination drives have led to a rise in business activities worldwide.
The economies are reviving their operations, and the demand for halal cosmetics is expected to rise globally in the coming years. Key manufacturers have resumed their operations, thereby restoring the production capacity of halal cosmetics.
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 among the leading players in the halal cosmetics market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall global halal cosmetics market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global halal cosmetics market.
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