The global Halal Cosmetics market is forecast to reach USD 66.33 Billion by 2027, according to a new report by Reports and Data. The market is being driven by the increasing number of Muslim population globally. Muslims account for approximately 25% of the worldwide population. An increase in the health concerns among consumers after using cosmetic products is fueling the need for special cosmetic products, which is, driving the market for halal cosmetic products. Moreover, increasing awareness of Muslim consumers on their religious obligations has also contributed to the rising demand for halal-certified cosmetic products.

The increasing need for halal cosmetic products among the growing 2.4 billion Muslim customers across the globe is increasing. However, the demand for the cosmetics still stays unmet as cosmetics production is mostly controlled by the non-halal cosmetic manufacturers, whose manufacture process may not fit in with the requirements of its science. The innovative production and development of these cosmetics and the assessment of their product performance is still at a nascent stage. The integration of its science in the production of most cosmetic products remains insufficient.

Furthermore, there is a global deficiency of documents guiding the assessment techniques in the production of halal cosmetics. It also aims to bridge existing knowledge and literature of halal and cosmetic science to offer essential technical guidance in the production of halal cosmetics. The adoption of these methods addresses the distinctive ethical issues associated with the conformance of cosmetics’ product performance to spiritual practices and science.

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Key participants include MMA Bio Lab Sdn Bhd, Talent Cosmetic Co., Ltd., PHB Ethical Beauty, Ivy Beauty Corporation Sdn Bhd, The Halal Cosmetics Company, Sampure Minerals, INIKA, Amara Cosmetics, Inc., Clara International, and Martha Tilaar Group, among others.

The COVID-19 impact:
The cosmetic industry has witnessed a decline in the wake of the COVID-19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the market has witnessed a shift in consumer behavior towards reliable and safe products. Products that have a low risk of contamination due to automation and longer shelf lives help in the rationing of consumer supplies. These are expected to stand out in the coming years. Brands are also focusing on enhancing their supply lines in strengthening their e-commerce channel coupled with offering at-home wellness products, which are highly suited in this volatile business environment.

For the purpose of this report, Reports and Data have segmented the global Halal Cosmetics market on the basis of product, application, distribution channel, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Personal Care Products
• Color Cosmetics
• Fragrances

Application Outlook (Revenue, USD Billion; 2017-2027)

• Hair Care
• Skin Care
• Face Care
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

• Online
• Offline

Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
  • U.S
• Europe
  • U.K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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Further key findings from the report suggest

• A growing Muslim population in the world, along with an increasingly high disposable income, is augmenting the demand for halal hair care products. The main reason for this is the obligations towards religion and awareness regarding ethical products. The growing popularity of this product among the male population is also fostering the growth.
• Halal cosmetic products must label according to the prescribed labeling requirement of the regulatory bodies of respective countries. The label on the product must bear a halal logo and reflect the ingredients of the product accurately as a means to aid the consumer in their decision as well as the consumption of the product. All the text, illustrations, and its advertisement must comply with Islamic law and local culture.
• The online segment dominated the market for halal cosmetics owing to the growing penetration of internet and smartphones in the developing Muslim countries. The e-commerce sector is trying to branch out and cover as much as possible to boost its sales. The online market is witnessing growth due to the influence of popular makeup artist and YouTube blogger leaving a huge footprint on social media.
• The market in Middle East is expected to be the fastest-growing regional market in 2019. Favorable government rules in GCC countries is driving the halal cosmetics market. The growing populace in the Middle Eastern nations is driving the overall market. Global players are expanding their businesses in the Middle East to cater to the increasing demand for these products.

Uses of this Report:

• This report gives an up-to-date view of the Global Halal Cosmetics Market
• Gives forecast with current market regulations put on the market and how it will affect the market’s future.
• It provides a six-year forecast based on how the market is expected to grow
• It helps in understanding the key product segments and their prospects
• It provides a detailed analysis of changing competition dynamics and gives you a head start.
• It enables one to make better business decisions by having complete insights of market and by making meticulous findings for markets prospects.
• PESTEL analysis of the market in the five major regions.

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Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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The post Halal Cosmetics Market Size To Reach USD 66.33 Billion By 2027 With CAGR 12.5% | Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.