The halal cosmetics market is witnessing rapid expansion, climbing from $36.8 billion in 2023 to $42.15 billion in 2024, at a remarkable CAGR of 14.5%. This growth is driven by the increasing Muslim population, greater awareness of halal practices, and rising ethical consumerism. By 2028, the market is projected to reach $72.22 billion, growing at a CAGR of 14.4%. Key factors fueling this growth include the demand for natural ingredients, inclusive marketing strategies, and the establishment of global halal certification standards. Notable trends expected in this sector include a focus on certification transparency, the rise of e-commerce platforms, and innovations in product development.
Major Driver In The Halal Cosmetics Market
The halal cosmetic market is anticipated to experience growth propelled by the increasing Muslim population globally. The term "increase in Muslim population" refers to the growing number of Muslims worldwide, attributed to factors such as higher birth rates, immigration, and conversions to Islam. As the Muslim population rises, there is a heightened demand for halal cosmetics, aligning with religious beliefs. Projections from Prayer Times estimate over 2.01 billion Muslims globally by 2023, with the Pew Research Centre forecasting a reach of 2.2 billion by 2030. Therefore, the expanding Muslim population is a key driver in steering the growth of the halal cosmetics market in the foreseeable future.
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Halal Cosmetics Market Competitive Landscape
INGLOT Cosmetics, J.L. Morison (India) Ltd., Clara International Beauty Group, Prolab Cosmetics, IVY Beauty Corporation, PHB Ethical Beauty Ltd., Amara Beauty, INIKA Organic Australia, Martha Tillar Group, The dUCk Group Sdn Bhd, Honeybee Gardens LLC, IBA Cosmetics, Ecotrail Personal Care Sdn Bhd, Sampure Minerals, Maryaj Perfumes Pvt Ltd., Saaf Skincare, Wardah Cosmetics, OnePure International Group Ltd., Talent Cosmetics, Pure Halal Beauty LLC, Flora & Noor Cosmetics LLC, Mikyajy Kosmetik Sdn Bhd, Muslimah Manufacturing Sdn Bhd, SirehEmas Global Sdn Bhd, Amsons Laboratories Pvt Ltd., The Halal Cosmetics Company Ltd., T'ZIKAL Beauty Sdn Bhd, Amreen Cosmetics Pvt Ltd., Cotarde France, Halal Beauty Cosmetics
Key Halal Cosmetics Market Trend
Product innovation is a key trend in the halal cosmetic market. Leading companies in this sector are adopting new technologies to maintain their market presence. For example, in June 2021, Flora and Noor, a US-based skincare brand offering halal, vegan, and cruelty-free products, launched a range of halal skincare items. This line includes cleansers, toners, serums, moisturizers, masks, and body products like body butter, scrubs, and bath bombs. Halal skincare products are free from animal by-products and alcohol.
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Halal Cosmetics Market Segmentation
The halal cosmetics market covered in this report is segmented –
1) By Type: Skin Care, Hair Care, Makeup, Others
2) By Distribution Channel: Offline, Online
3) By End User: Men, Women, Unisex
By Geography:The regions covered in the halal cosmetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the halal cosmetics market in 2023.
The Halal Cosmetics Global Market Report 2024 furnishes information about the global halal cosmetics market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
