Published by Coherent Market Insights
Posted on September 20, 2021
Halal cosmetics are cosmetics that are free from products that are forbidden by the Islamic religion. Halal cosmetics are considered as one of the most key innovation for the Muslim population. Moreover, these products are basically certified by the Islamic religious department in Malaysia. These products do not cause any health hazards as it does not use animal products such as fats, gelatin, or other harmful chemicals. Halal products are gaining huge demand among the Muslim population as well as non-Muslim populations. Halal cosmetics can be classified into skin care, color cosmetics, hair care, and fragrances products. Out of which, skincare segments are gaining huge traction in the market due to the rising number of Muslim populations around the globe.
The Asia Pacific halal cosmetics market is projected to reach around US$ 4.8 billion by the end of 2027, in terms of revenue, growing at CAGR of 10% during the forecast period (2019-2027).
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Drivers
Growing concern over the transdermal nature of cosmetic products among the population is primarily fueling the growth of the Asia Pacific Halal cosmetics market. According to the Coherent Market Insights analysis, a survey revealed that 57.6% and 37.7% of consumers in Indonesia and Singapore respectively prefer halal cosmetic and personal care products over conventional cosmetics. Therefore, rising awareness regarding the transdermal nature of the cosmetic is propelling the Asia Pacific Halal cosmetics market.
Market Opportunities
Expanding middle-class population in the Asia Pacific is expected to offer immense growth opportunities to the market growth over the forecast period. According to the World Bank’s international comparison program in 2014, India overtook Japan as the world’s third-largest economy in terms of purchasing power parity (PPP) with a 6.4% share of the global GDP. Hence, the growing middle-class population will favor market growth.
Market Trends
Expanding e-commerce in the Asia Pacific region which enables the easy availability of the products is expected to accelerate the market growth. According to the Oberlo, the Asian countries, such as Japan and South Korea, wrap up the list of the five-largest e-commerce markets. They are expected to bring in US$ 115.40 billion and US$ 103.48 billion in e-commerce sales in 2019 respectively, with growth rates of 4.0 percent and 18.1 percent.
Great savings for you 2000$ Discount On Report: https://www.coherentmarketinsights.com/insight/request-discount/3690
Regulations
Malaysia
The post Asia Pacific Halal Cosmetics Market Is Projected To Reach Around Us$ 4.8 Billion By The End Of 2027 appeared first on Gatorledger.
Halal cosmetics are cosmetics that are free from products that are forbidden by the Islamic religion. Halal cosmetics are considered as one of the most key innovation for the Muslim population. Moreover, these products are basically certified by the Islamic religious department in Malaysia. These products do not cause any health hazards as it does not use animal products such as fats, gelatin, or other harmful chemicals. Halal products are gaining huge demand among the Muslim population as well as non-Muslim populations. Halal cosmetics can be classified into skin care, color cosmetics, hair care, and fragrances products. Out of which, skincare segments are gaining huge traction in the market due to the rising number of Muslim populations around the globe.
The Asia Pacific halal cosmetics market is projected to reach around US$ 4.8 billion by the end of 2027, in terms of revenue, growing at CAGR of 10% during the forecast period (2019-2027).
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/3690
Drivers
Growing concern over the transdermal nature of cosmetic products among the population is primarily fueling the growth of the Asia Pacific Halal cosmetics market. According to the Coherent Market Insights analysis, a survey revealed that 57.6% and 37.7% of consumers in Indonesia and Singapore respectively prefer halal cosmetic and personal care products over conventional cosmetics. Therefore, rising awareness regarding the transdermal nature of the cosmetic is propelling the Asia Pacific Halal cosmetics market.
Market Opportunities
Expanding middle-class population in the Asia Pacific is expected to offer immense growth opportunities to the market growth over the forecast period. According to the World Bank’s international comparison program in 2014, India overtook Japan as the world’s third-largest economy in terms of purchasing power parity (PPP) with a 6.4% share of the global GDP. Hence, the growing middle-class population will favor market growth.
Market Trends
Expanding e-commerce in the Asia Pacific region which enables the easy availability of the products is expected to accelerate the market growth. According to the Oberlo, the Asian countries, such as Japan and South Korea, wrap up the list of the five-largest e-commerce markets. They are expected to bring in US$ 115.40 billion and US$ 103.48 billion in e-commerce sales in 2019 respectively, with growth rates of 4.0 percent and 18.1 percent.
Great savings for you 2000$ Discount On Report: https://www.coherentmarketinsights.com/insight/request-discount/3690
Regulations
Malaysia
The post Asia Pacific Halal Cosmetics Market Is Projected To Reach Around Us$ 4.8 Billion By The End Of 2027 appeared first on Gatorledger.
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