The Halal Cosmetics Market is expected to grow at a CAGR of 11.6% from 2021 to 2031, driven by increased demand from Muslim and non-Muslim consumers for Halal-certified products.
Countries such as the UAE, Indonesia, Kingdom of Saudi Arabia, Turkey, India and Malaysia are considered dominant markets for halal cosmetics. Future Market Insights (FMI) in a new study has predicted the demand for halal cosmetics to rise considerably in the coming years. It is expected to reach US$ 474.7 Mn by the end of 2021. As a continuing trend, halal cosmetics manufacturers are investing in the segment towards the expansion existing product portfolio and regional footprint.
Muslim population has emerged as a prominent consumer base, characterised by untapped product segments of cosmetics and rising per capita spending. This has prompted consumer and personal care product manufacturers to capitalize on the emerging latent opportunity. Companies are optimistic with regards to purchasing power of members of this population. It is more than likely that over the span of the next four to five years, they will be focusing on developing innovative products and designing market level strategies capitalize on existing opportunities.
Increasingly, awareness of the use of porcine-based ingredients in cosmetics is causing a shift towards Halal-certified products, also among the non-Muslim population. Additionally, the use of swine placenta in cosmetics, including wrinkle creams and facemask, is a factor of grave concern among certain section of consumers.
This change in consumer buying preference has encouraged the players in the market to stimulate innovation and expand the portfolio, tapping the unexposed segments of the industry and as a result escalating the demand over the forecast period.
Download FREE Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-AP-521
FMI in its latest study has forecasted the market to rise at a CAGR of 11.6% between 2021 and 2031. In terms of product type, the skincare segment will account for a notable share. An increasing number of consumers are gaining awareness regarding the use of impure ingredients in the cosmetic industry. Since skin care is a huge part of daily routine, consumers, men and women alike, are shifting towards halal skin care products
Key Takeaways from the Halal Cosmetics Market Study
“Companies currently operating in the market are focusing on catering to specific requirements end-users. They also intend to successfully stimulate innovation cycle to cater to the diverse requirements in the market. e-Commerce platform such as Amazon, Walmart, and others are significantly helping companies to increase sales in terms of volume.” says an FMI analyst.
Request a Complete TOC of this Report with figures: https://www.futuremarketinsights.com/toc/rep-AP-521
COVID-19 Pandemic Causing Significant Disruptions
The current pandemic outbreak has posed numerous challenges on the part of supply side and demand side. The temporary regulation imposed by regional governments to restrict the movement has impacted supply chains drastically. Besides this, the specular shift from discretionary spending to essential goods has further negatively impacted the market growth. Another major change in consumer buying behaviour is witnessed in the form of a shift from store based retailing to online retailing facilitating a wider market reach. The budding companies in the industry have faced major logistical issues restraining the profit generation. However the market is currently entering into reviving phase across different regions, which is further an indicator that points out towards new opportunities for established as well as the newly mushrooming companies.
Who is winning?
A few of the key players in the halal cosmetics market are Iba Cosmetics, Martha Tilaar Group, Clara International, Kao Corporation, Andalou Naturals, Ivy Beauty Corporation Sdn Bhd, Nature’s Dream, Prolab Cosmetics, Inglot Cosmetics, One Pure, and Talent Cosmetics, among others.
The players are aggressively investing to encourage and promote product development with an aim to gain a competitive advantage over other players operating in the market. Innovative product portfolio establishment and expansion of portfolio is the most adopted strategy by the leading players.
Get Valuable Insights into Halal Cosmetics Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global halal cosmetics market, presenting historical demand data (2016-2031) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the halal cosmetics market based on the product type (skin care, hair care, makeup, body care and fragrance), end user (men, women and unisex), sales channel (hypermarkets/supermarkets, convenience stores, specialty stores, multi-brand stores, online retailing, and other sales channel), across seven major regions.
Ask for Customization: https://www.futuremarketinsights.com/customization-available/rep-AP-521
Explore FMI’s Extensive Coverage on Consumer Product Domain
Organic Cosmetics Market: The global organic cosmetics market to grow at CAGR of 5.0% throughout the forecast period 2021-2031
Color Cosmetics Market: The color cosmetics market size to expand at 5% CAGR between 2021 and 2031. The demand for color cosmetics is expected to grow by 2% in 2021, reaching a market valuation of nearly US$ 50 Bn.
Vegan Cosmetics Market: It is expected to rise at an impressive CAGR between 2020 and 2030. The spiraling demand for cruelty free and vegan cosmetics, and the rapidly changing consumer preference, triggered by soaring environmental concerns will enable growth in the vegan cosmetics market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Corporate Headquarter
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/halal-cosmetics-market
Press Release Source: https://www.futuremarketinsights.com/press-release/asia-pacific-halal-cosmetics-market
The article discusses the growth of the Halal Cosmetics Market, projected to expand at a CAGR of 11.6% from 2021 to 2031.
Growth is driven by increased demand for Halal-certified products and rising awareness of impure ingredients in cosmetics.
Key markets include the UAE, Indonesia, Saudi Arabia, and other parts of the Middle East and Asia.
Explore more articles in the Research Reports category
