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.”
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Leading Players Featured in the Research Report:
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 |
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| Regions Covered |
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| 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:
https://www.fortunebusinessinsights.com/halal-cosmetics-market-106602
Report Coverage-
The report offers:
- 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.
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Regional Insights-
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
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued...!
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Competitive Landscape-
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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