Market Study Report adds 2017-2026 Halal Cosmetics Market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
The global halal cosmetics market is anticipated to reach USD 22.56 billion by 2026 according to a new study published by The marker research report. The market growth is primarily due to increase in Muslim populations and their purchasing power. This has created a surge in demand for halal cosmetics. Increasing demand has also compelled market players to engage in new product development.
Currently, consumers are exhibiting growing interest in halal cosmetics and personal care. This is primarily due to the increasing consumer awareness about the importance of personal hygiene and improving lifestyles as a result of increasing disposable income. Halal cosmetics being different from conventional cosmetics are gaining popularity, as these cosmetics do not contain alcohol, porcine-by products and their derivatives. Basically, they do not contain contents or ingredients that are against Islamic beliefs.
Asia Pacific is anticipated to dominate the global halal cosmetics market, owing to the presence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan. These nations have significant population that follow Islamic beliefs.
Halal cosmetics are expected to be produced, packaged, stored, and distributed as per Islamic teachings. Moreover, these products are considered to be safe, clean, and high quality. The significant growth in Muslim populations across the globe is expected to offer immense opportunities to personal care and halal cosmetics industry. In addition, the rapidly accelerating economic power of Islamic countries is anticipated to largely influence them to spend additional money on beauty and personal products.
The growing issues over the environmental and health hazards are also responsible for such as significant impact on the cosmetic industry. Some of the health hazards such as distortion, breast cancer, and abnormalities pertaining to genital are usually blamed to occur as a result of excessive usage of cosmetics products comprising nano-particle ingredients. The increasing in number of such events has promoted consumer awareness about the substance of beauty products, thus, driving demands for halal personal care and cosmetic goods.
Top key players
The list of key companies that are operating in the market include Ivy Beauty Corporation Sdn Bhd, Mena Cosmetics, MMA Bio Lab Sdn Bhd, The Halal Cosmetics Company, Talent Cosmetic Co., Ltd., PHB Ethical Beauty, Saaf SkinCare, One Pure, Sampure Minerals, Amara Cosmetics, Wardah Cosmetics, Inika, Clara International, Prolab, and IBA Halal Care. These players are observed engaging in activities aimed at the development of new products.