Halal cosmetics market surges with a rise in demand for ethically sourced and cruelty-free products. Catering to diverse consumer needs, it reflects a global shift towards conscious beauty.
It is projected that the worldwide market for halal cosmetics will bring in US$ 42.65 billion by 2023. The halal cosmetics market is expected to grow at a compound annual growth rate (CAGR) of 11.6% to reach US$ 127.8 billion by 2033.
The common forms of halal cosmetics encompass a variety of fragrances; color cosmetics including lipsticks, foundation and balms for the lips; personal hygiene products as well as skin care products such as revitalizing creams, moisturizers and lotions.
The halal cosmetic market is growing due to the shifting trend among consumers towards chemical-free and natural ingredients-based makeup along with personal care products. Halal products are gaining popularity in the Muslim- majority countries throughout the forecast years.
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Key Takeaways
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Competitive Landscape
Prominent players in the halal cosmetic market are focusing on employing a variety of techniques to thrive in a competitive market. Companies are concentrating on innovations and advances to stay ahead of consumer demands build brand names and thrive in a competitive climate.
Key market players in halal cosmetics are focusing on merger and acquisition strategies to maximize their business operations and increase their in-house expertise. Strategic alliances and partnerships are yet another means to achieve a competitive edge through expanded corporate reach and services. Besides this, new product launches continue to excel in the growth of the halal cosmetics market.
More Insights into the Halal Cosmetics Market
Throughout the forecast period, the United States is likely to lead the North American halal cosmetics market. Over recent years, there has been the emergence of new entrants seeking to capitalize on the country’s business potential. The United States is considered a dominant market comprising a big chunk of halal-certified cosmetics. Canada is yet another crucial market for such products in North America.
Asia Pacific region is projected to lead the global halal cosmetics market by 2032. The expanding Muslim population in Southeast Asian countries along with the increased presence of halal-certified enterprises in the region, affect the halal cosmetics market trends.
The top halal beauty products are manufactured in countries like India, Indonesia, and Malaysia. The rising awareness about animal welfare and growth in the Muslim population is driving the expansion of the halal cosmetics market.
Germany is also expected to showcase lucrative growth opportunities by gradually adopting the cruelty-free culture, which is fueling the demand for halal cosmetics in the beauty and personal care sectors.
Key players
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Feb 15, 2024