Halal cosmetics market size was evaluated at USD 45.32 billion in 2023 and is expected to hit around USD 162.41 billion by 2033 with a registered CAGR of 17.3%
NEW YORK CITY, NEW YORK, UNITED STATES, January 12, 2023 /EINPresswire.com/ — The global halal cosmetics market size was evaluated at USD 45.32 billion in 2023 and is expected to hit around USD 162.41 billion by 2033 with a registered CAGR of 17.3% from 2023 to 2033.
The popularity of Natural and Eco-friendly Cosmetics is Growing
Globally, the demand for plant-based and natural products has increased steadily over recent decades. The demand for non-halal cosmetics has increased in recent years as people are more conscious of sustainability and environmental impact. Natural cosmetics are essential to a healthy lifestyle.
Cosmetics that are halal certified are becoming more popular because they are primarily made from natural ingredients, and don’t contain any animal fat or harmful chemicals. Many cosmetic and personal care brands offer products that contain natural ingredients like botanical extracts and minerals. They are also vegan- or halal-certified to be competitive in the cosmetics market.
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Key Market Segments
Hair Care Products
Skin Care Products
Color Cosmetics Products
Key Market Players included in the report:
Martha Tilaar Group
PT Paragon Technology and Innovation
Wipro Unza Holdings
Market growth is being driven by rising consumer demand for safe and quality products. Halal cosmetics can be manufactured from halal materials, such as oils, organic solvents or proteins, vitamins, plants, extracts, and antioxidants. They are made from a complex mix of all these ingredients, according to halal standards. The manufacturers monitor products closely to ensure they meet the required halal standard.
Islamic law forbids the use of ingredients that are derived from human bodies, such as pigs, blood, reptiles, and insects. The law states that products should be manufactured, processed, stored, transported, and transported under clean conditions. Cosmetics certified by Halal are safer and better than those that are commonly available. This factor is another reason for the increased popularity of cosmetics with halal certification.
Rising acceptance of Halal-certified cosmetics supported by the government supports Halal products are more in demand due to the growing Muslim population. Malaysia has more than 50% Muslim population. They prefer products with Halal certification, such as cosmetics.
According to the Government of India (GoI), India’s Muslim population was over 10.9% in 2019. And their number is rising year after year. Because of their growing awareness of halal products, non-Muslim customers prefer to purchase cosmetics that are halal-certified. The cross-border selling of products is permitted in several countries including India, China, and Malaysia.
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Price Factor Halal Cosmetics Impedes Product Demand Cosmetics that are halal-certified will cost more than regular cosmetics. Although safety and quality are important factors that affect buyers’ buying decisions, price is still the dominant factor in this market. The price factor is driving consumers to shift from halal cosmetics to standard products in emerging markets like Brazil, India, China, and China. Higher prices are expected to limit the growth in the halal market over the forecast period.
Flora and Noor, a Muslim-owned skincare brand, presented a novel, halal-sanctioned product for skin care in June 2021. This company offers a range of products that are vegan, cruelty-free, and halal-approved. There are moisturizers, toners (serums), cleansers, and body scrubs.
Ex-L’Oreal executives launched the halal brand in August 2020 to meet diverse consumer needs.
Boozer Cosmetics is a Brazilian cosmetics business. Amazon. Symbiote Amazonica is a line of products. These products received Halal Certification in December 2019
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