Halal Food Market: Projected to Reach US$ 3,229,805.32 million by 2033, Fueled by Growing Interest Beyond Muslim Consumers, Especially in Halal-Certified Cosmetics and Personal Care Products
The halal food market Size is expected to exceed US$ 1,291,429.8 million in 2023 and is expected to reach a US$ 3,229,805.32 million worth by 2033. From 2023 through 2033, the market share of halal food is anticipated to grow at a CAGR of 9.6%.
The halal food business is expected to increase from US$ 1.2 trillion in 2023 to US$ 3.2 trillion by 2033. Halal-certified cosmetics and personal care products are believed to be safe, ethically sourced, and healthful, which is bridging cultural divides and drawing in non-Muslim consumers. The company is growing outside its typical audience as a result.
Cosmetics and personal care items that are halal help to bridge cultural divides. Consumers who are not Muslims are becoming more conscious of the ethical and visual standards for halal goods. Because of non-Muslim consumers' desire for halal products because of their perceived safety, ethical sourcing, and nutrient profiles, the market is growing beyond its normal client base.
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The demand for natural and organic products around the world and the halal beauty market are closely tied. Many halal personal care businesses place a premium on using unadulterated, natural goods as opposed to synthetic ones. This is consistent with customers’ growing choice for beauty and grooming products that are health-conscious. Given the parallels between halal and natural/organic goods, a market segment that caters to consumers who are health-conscious is growing.
Leading companies in halal beauty place the highest importance on research and development (R&D). They invest a lot of resources into developing revolutionary product formulations that adhere to halal rules and suit the unique needs of a variety of clients. This commitment to R&D results in a continual supply of new, improved halal personal care and cosmetic products, keeping the market dynamic and responsive to altering customer trends.
More and more brands are offering customizable and adaptable halal beauty and personal care products. Customers may now customise products to suit their preferences, skin types, and concerns thanks to this trend. Customers who are looking for products that match their unique needs are drawn to customization and personalization, which also helps the industry grow by improving the consumer experience.
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Key Takeaways from the Halal Food Market Report
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Halal Food Market Segmentation
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Recent Developments in the Halal Food Market
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 08, 2024