Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The halal cosmetics market is expected to grow significantly at a CAGR of more than 9.0% during the forecast period. The market growth is attributed to the rising consumer awareness about the detrimental consequences of certain substances like carbon black and carcinogens, which are extensively used in cosmetics. The halal cosmetics market is highly vibrant, and with over 1.8 billion Muslims globally, it is rapidly developing. Muslims choose halal items as these items are in line with their religious views. Moreover, other factors driving the demand for halal cosmetics include product reliability, product commitment, intention to purchase halal cosmetics, faith in the product development process, environmentally friendly attitude, and several other religious convictions. Furthermore, halal certification authorities globally have mostly focused on halal food certification and may lack the ability or inclination to promote and certify halal cosmetics thus making customers concerned about the trustworthiness.
Market Segmentation
The global halal cosmetics market has been analyzed on the basis of product type, gender, category, distribution channel, and region. Based on product type, the market is segmented into skin care, personal care products, hair care, fragrances, and beauty care. Among these, personal care products segment is estimated to hold a significant share in the halal cosmetics market. Based on gender, the market is segmented into men and women. The halal cosmetics for women dominates the market while the men segment is projected to exhibit a remarkable growth during the forecast period.
Based on category, the market is bifurcated into mass and premium. While on the basis of distribution channel, the market is segmented into conventional retail and modern retail. Among these, the modern retail segment is projected to grow at a considerable growth rate during the forecast period. Based on application, the market is segmented into hair care, skin care, face care, and beauty care. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The global halal cosmetics market is characterized by the presence of significant number of players. Some of the prominent players operating in the market include Breena Beauty, Amara Beauty, SO.LEK Cosmetics, Tuesday In Love, Inika Organic (Total Beauty Network Pty Ltd.), Ivy Beauty Corp., Clara International Beauty Group, Iba Cosmetics (Ecotrail Personal Care Pvt. Ltd.), Kolmar Korea, MENA COSMATICS CO., LTD., Sampure Minerals, The dUCk Group, Halal Beauty Market, Amara Beauty, Wardah Cosmetics, and SimplySiti among others.
• In 2022, South Korea-based Kolmar announced to penetrate into the Middle East and North Africa region where it would supply its halal-certified cosmetics to cater to a wide range of customers.
• In September 2021, Mikyajy - a Dubai-based cosmetic brand, introduced its first halal-certified make-up line.
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