The increase in the Muslim population, the development of the halal market and the increase in compliance with halal certification drive the growth of the global halal cosmetics market.
PORTLAND, Hours., April 18, 2022 / PRNewswire / – Allied Market Research published a report, titled “Halal Cosmetics Market by Product Type (Personal Care Products, Color Cosmetics, Fragrances), by Application (Hair Care, Skin Care, Skin Care) face, beauty care), for Channel distribution (offline, online): analysis of global opportunities and sector forecasts, 2020-2031 “. According to the report, the global halal cosmetics industry has spawned 30.6 billion dollars in 2020 and is expected to generate $ 144.8 billion by 2031, with a CAGR of 15.2% from 2022 to 2031.
First determinants of growth
The increase in the Muslim population, the development of the halal market and the increase in compliance with halal certification drive the growth of the global halal cosmetics market. However, the high costs associated with these cosmetics and the lack of standard guidelines for halal certification limit the growth of the market. Furthermore, multinationals that exploit the halal cosmetics market create profitable growth opportunities for the global halal cosmetics industry.
- Due to the implantation of the global blockade, the outbreak of the Covid-19 pandemic had a slight negative impact on the global halal cosmetics market, especially during the initial period.
- However, a significant increase in market revenue was noted in the fourth quarter of 2020-2021.
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The physical form segment to maintain its leadership status throughout the forecast period
Based on the application, the hair care segment held the highest market share in 2020, accounting for over a quarter of the global halal cosmetics market, and is estimated to maintain its leadership status throughout the forecast period. . This is because wearing the all day hijab takes away the freshness of the scalp and damages the hair, which is why halal cosmetics companies can focus on producing hair care products with specific solutions to prevent hair damage. However, the beauty care segment is expected to exhibit the highest CAGR of 15.6% from 2022 to 2031, due to the growing demand among Muslim women, especially young people, to enhance their beauty.
The offline segment to maintain its leading position during the forecast period
Based on the distribution channel, the offline segment accounted for the largest share in 2020, contributing to more than three-quarters of the global halal cosmetics market, and is expected to maintain its leadership position during the forecast period. This is due to the fact that retail stores, supermarkets and others display the products to consumers so that they can get a first-hand look at the products and verify their authenticity. Additionally, the online store segment is projected to represent the highest CAGR of 16.2% from 2022 to 2031. With shopping experiences gaining worldwide progress along with changing consumer lifestyles, channels Distribution markets such as e-commerce websites and online brand sites are expected to see significant growth during the forecast period.
LAMEA, followed by Asia-Pacific, Europe & North America maintain its dominance by 2030
Based on the region, LAMEA, followed by Asia-Pacific, Europe & North America held the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global halal cosmetics market, attributed to an increase in the Muslim population. Furthermore, the North America is expected to see the fastest CAGR of 16.1% from 2022 to 2031. This is due to rising migration and fertility rates.
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Main market players: –
- Amara cosmetics
- Other halal cures
- Halal cosmetics company
- Chiara International
- Warda cosmetics
- PHB Ethical beauty
- Mineral Sampure
- A pure one
- Mena cosmetics
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