Portland, OR, April 01, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global halal cosmetics market was pegged at $23.17 billion in 2016, and is projected to reach $54.16 by 2022, growing at a CAGR of 15.2% from 2016 to 2022.
Rise in the Muslim population, increase in compliance of halal certification, and boom in the halal market have boosted the growth of the global halal cosmetics market. However, the dearth of the standard guidelines for halal certification and high costs hinder the market growth. On the contrary, surge in presence of multinational players is expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak and followed pandemic resulted in disrupted supply chain and revenue chain.
- As most of the companies adopted work from home culture, the demand for cosmetics decreased during the pandemic.
- However, as the governments have lifted the lockdown regulations, the demand for halal cosmetics is expected to rise post-pandemic.
The global halal cosmetics market is segmented on the basis of product type, application, and distribution channel. Based on product type, the market is classified into personal care products, color cosmetics, and fragrances. The personal care products segment held the lion’s share in 2016, accounting for nearly two-fifths of the market. However, the fragrances segment is projected to register the highest CAGR of 15.8% during the forecast period.
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On the basis of application, the market is divided into hair care, skin care, face care, and beauty care. The hair care segment held the largest share in 2016, contributing to nearly one-third of the market. However, the beauty care segment is estimated to register the highest CAGR of 16.7% during the forecast period.
The global halal cosmetics market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across LAMEA held the lion’s share in 2016, accounting for more than two-fifths of the market. In addition, the region is expected to register the highest CAGR of 15.7% during the forecast period.
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The global halal cosmetics market report includes an in-depth analysis of the major market players such as Amara Cosmetics, Iba Halal Care, Halal Cosmetics Company, Clara Internation, Inika, Wardah Cosmetics, PHB Ethical Beauty, Sampure Minerals, One Pure, Mena Cosmetics, and SaafSkinCare.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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