A recent report published by
Infinium Global Research on halal cosmetics market provides in-depth analysis
of segments and sub-segments in the global as well as regional halal cosmetics market.
The study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional halal cosmetics market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecast
and dollar values of the global halal cosmetics market. According to the report,
the global halal cosmetics market is projected to grow at a CAGR of 12.56% over
the forecast period of 2019-2025.
Halal cosmetics are those products
which are manufactured by using ingredients that are acceptable according to
the Islamic Sharia law. These products are free from the ingredient that is
derived from animals that are prohibited by Islamic law or from animals that
are slaughtered in a non-halal way. All these products are certified by
manufacturers to assure that it does not include any components that are not in
compliance with Islamic law. These cosmetics are based on safety and quality
concepts.
Increasing purchasing power among
the Islamic states is a major factor driving the growth of the halal cosmetics
market. According to the State of the Global Islamic Economy Report 2018/19,
Indonesia’s total expenditure on halal cosmetics was USD 3.9 billion. The
demand for halal cosmetic products is growing in countries such as Indonesia,
Malaysia, UAE, and others to comply with Sharia religious guidelines. Further,
the manufacturers are also focusing on increasing the production of halal cosmetics
to serve the growing demand of the customers. Growth in disposable income and the adoption of modern lifestyle also motivation the growth of the halal cosmetics
market. Several cosmetics contain an ingredient which can cause skin irritation
and may have long term effect on health. With the increasing awareness among
consumers regarding the usage of gelatin and collagen free products, has
resulted in the increased production of halal certified products by several
cosmetic manufacturing industries. Owing to these factors, multinational
players have potential opportunities to enter the halal cosmetics industry.
However, different countries are having different laws for halal owing to this the manufacturer is facing difficulties in setting standard manufacturing the guideline which poses as a challenge for the growth of the halal cosmetics
market.
In terms of geographies, Asia
Pacific region has dominated the growth of the halal cosmetics market. Further,
owing to the increase in the Muslim population, growth in spending on personal care
products, increasing awareness among the consumers regarding the use of halal
certified products are some of the factors boosting the growth of halal cosmetic
products in Asian countries such as Indonesia, and Malaysia. In addition to this,
several industries present in this region are focusing to consolidate their
position by presenting a wide range of product portfolios. Moreover, changing
lifestyles, increasing demand for personal grooming and trending beauty
products, and are willing to pay a premium price for halal certified beauty
products have resulted in the growth of the halal cosmetics market in Asia
Pacific region.
The report on the global halal
cosmetics market covers segments such as product type and distribution
channel. On the basis of product type, the sub-markets include hair care, skin
care, color cosmetics, fragrances, and others. On the basis of the distribution
channel, the sub-markets include convenience stores, supermarkets/hypermarkets,
specialty stores, and online stores.
The report provides profiles of
the companies in the market such as Amara Halal Cosmetics, Sampure Minerals,
INIKA Organic, Elaheh Halal Cosmetics Inc., IVY Beauty Corporation Sdn Bhd,
CLARA INTERNATIONAL BEAUTY GROUP, Mena Cosmetics Co., Ltd., PHB Ethical Beauty
Ltd., Talent Cosmetics Co. Ltd., Martha Tilaar Group, and others.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of halal cosmetics market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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