Major players in the halal cosmetics market are Amara Beauty, Prolab Cosmetics, CLARA INTERNATIONAL BEAUTY GROUP, Halal Beauty Cosmetics, IBA Cosmetics, INIKA Organic Australia, Saaf Skincare, PHB Ethical Beauty Ltd.
New York, June 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Halal Cosmetics Global Market Report 2023” – https://www.reportlinker.com/p06464188/?utm_source=GNW
, Sampure Minerals, Wardah Cosmetics, IVY Beauty Corporation, OnePure International Group Ltd., Talent Cosmetics, INGLOT Cosmetics, and Martha Tillar Group.
The global halal cosmetics market is expected to grow from $32.50 billion in 2022 to $37.38 billion in 2023 at a compound annual growth rate (CAGR) of 15%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The halal cosmetics market is expected to reach $62.65 billion in 2027 at a CAGR of 13.8%.
The halal cosmetics market consists of sales of eyeshadow, foundation, nail polish, hygiene products, and fragrances.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Halal cosmetics are beauty and personal care products that adhere to Islamic law and are free of haram ingredients or substances. They are used for the same purposes as other beauty and personal care products.
Asia-Pacific was the largest region in the halal cosmetics market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in halal cosmetics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main halal cosmetics types are skin care, hair care, makeup, and others.Skin care refers to the practices and routines that keep their skin in good health, appearance, and texture.
They are distributed through offline and online channels for men, women, and unisex.
The increasing muslim population is expected to propel the growth of the halal cosmetic market going forward.The term “increase in Muslim population” refers to an increase in the number of Muslims in a specific region, country, or world.
This growth can be due to several factors, including higher birth rates among Muslim families, Muslim immigration from other countries, and conversion to Islam.As the Muslim population grows, there is an increasing demand for halal cosmetics as more Muslim consumers seek products that align with their religious beliefs.
For instance, in April 2023, according to Prayer Times, an Indian-based Islamic organization, it is estimated that there will be over 2.01 billion Muslims in the world by 2023. The global Muslim population will reach 2.2 billion by 2030, according to the Pew Research Centre. Therefore, the increasing Muslim population is driving the growth of the halal cosmetics market going forward.
Product innovations are a key trend gaining popularity in the halal cosmetic market.Major companies operating in the halal cosmetic market are adopting new technologies to sustain their position in the market.
For instance, in June 2021, Flora and Noor, a US-based skincare brand with halal, vegan, and cruelty-free products, launched a line of halal skin care.It includes cleansers, toners, serums, moisturizers, and masks, as well as body products such as body butter, scrubs, and bath bombs.
Halal skincare items are those that are free of animal by-products and alcohol.
In November 2022, TSG Consumer Partners, LLC, a US-based investment firm that focuses on the branded consumer sector, acquired Huda Beauty for an undisclosed sum.This acquisition broadens, diversifies, and enriches TSG’s portfolio by providing a best-in-class product offering that helps women all over the world look and feel their best every day.
Huda Beauty is a UAE-based cosmetics line that offers halal cosmetics.
The countries covered in the halal cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The halal cosmetics market research report is one of a series of new reports that provides halal cosmetics market statistics, including halal cosmetics industry global market size, regional shares, competitors with a halal cosmetics market share, detailed halal cosmetics market segments, market trends and opportunities, and any further data you may need to thrive in the halal cosmetics industry. This halal cosmetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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