According to our latest market study on " Halal Cosmetics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type (Skincare, Haircare, Makeup, and Others), Category (Men, Women, and Unisex), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, Others)" the 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. The report highlights key factors driving the halal cosmetics market and prominent players and their progress in the market.
Halal restorative products are corrective products that adhere to Islamic standards, i.e., corrective products liberated from pig-determined and other prohibited ingredients. Halal restorative products are also wudu-accommodating (permeable to water) as expected by Islamic standards.
There has been a growing awareness among the consumers about the harmful impacts of synthetic cosmetics, for example, respiratory distress and skin allergies, which has moved consumers' inclination toward halal cosmetics. Additionally, the rise in the Muslim population across the world and an increase in the spending by the Muslim population on superficial products are augmenting the expansion of the halal cosmetics market. With the growth envisaged in the coming years, new start-up cosmetics players are emerging, and the sector is diversifying its product portfolio. Also, the increased penetration of online retail has given growth opportunities to halal cosmetics manufacturers to sell their products via online platforms to increase their reach. An increased number of manufacturers is leveraging the reach of social media to spread awareness about halal cosmetics to consumers. Along with this, men and women especially in urban areas are showing increased interest and awareness towards halal ensured corrective products. The increased demand from Southeast Asian nations for halal cosmetics is also driving the halal cosmetics market growth.
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 the well-established players constituting the majority of the halal cosmetics market share.
Impact of COVID-19 Pandemic on Halal Cosmetics Market
The COVID-19 pandemic adversely affected the consumer merchandise industry with the closure of manufacturing facilities, trouble in procuring raw materials and components, and restrictions on logistic operations. The disruptions in the stock of raw materials to manufacturers hampered the production of halal cosmetics. The outbreak distorted operational productivity and disrupted the value chains because of the unexpected closure of national and international boundaries, creating income misfortune and damage. Various halal cosmetics manufacturers had to temporarily close their operations or limit their production capacities, negatively impacting the halal cosmetics market. Notwithstanding, the businesses are gaining ground as governments of various nations overall have eased out the previously forced restrictions. The start of operations in the halal cosmetics manufacturing units is positively impacting the halal cosmetics market.
The "Global Halal Cosmetics Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global halal cosmetics market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The market is segmented based on product type, category, distribution channel, and geography. Based on product type, the market is segmented into skincare, haircare, makeup, and others. In terms of category, the market is segmented into men, women, and unisex. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2020, Asia Pacific dominated the halal cosmetics market and is expected to be the fastest-growing region over the forecast period. The countries in the Asia Pacific are emerging markets for halal cosmetics. This can be attributed to the increasing awareness about animal welfare and the harmful effects of synthetic cosmetics. Moreover, the increase in the population of Muslims in the countries across Asia Pacific is driving the demand for halal cosmetic products.
