Published Date : 20 Jul 2023
The global halal cosmetics market size surpassed USD 45.32 billion in 2022 and is predicted to touch around USD 162.41 billion by 2030, growing at a remarkable CAGR of 17.3% between 2022 and 2030.
These products do not contain any animal-derived products and they are labeled halal according to Islamic law. Halal cosmetics are extremely famous in Muslim countries and the trend for these cosmetics has led to an increase in the demand for these products in non-Muslim countries also. As they are free from any animal cruelty and do not involve any ingredients that are derived from animals they are preferred even by the non-Muslim communities.
The trend for vegans and vegetarianism has also led to the growth and expansion of halal cosmetics products. There is an increased awareness about the benefits of using these halal cosmetics. These products are extremely safe for use and do not have any side effects as they are made in extremely hygienic conditions and packed safely. Halal cosmetics initially offered only a few products for the personal of Muslim women but in recent years the market has changed and the demand for grooming and makeup products is also rising. These products are certified halal but at times the ingredients of these products are not mentioned clearly.
Halal Cosmetics Market Report Scope:
|Market Revenue in 2023||USD 53.16 Billion|
|Projected Forecast Revenue in 2030||USD 162.41 Billion|
|Growth Rate from 2022 to 2030||CAGR of 17.3%|
|Largest Market||Asia Pacific|
|Forecast Period||2022 To 2030|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
The increase in the Muslim population across various nations has accelerated the growth of the halal cosmetics market. The trend of veganism has resulted in boycotting animal-based products. Also, the awareness and concern regarding animal welfare and their living rights, the halal cosmetics market is expected to grow. The younger generations are conscious consumers and they are increasingly spending on halal products.
Halal cosmetic products are made in extremely hygienic conditions and the ingredients used in the manufacturing process are slightly more expensive than those that are conventionally used. The packaging of the products are also done by keeping the hygiene in mind. The entire cost of producing halal cosmetics goes high due to all of these norms. Therefore the cost of these products is also high, which hinders market growth. The certification process for halal cosmetics is not standardized, and this factor also happens to restrain the growth of the market.
The market for halal cosmetics is getting huge demand. The market is gaining popularity and hence the opportunities are increasing for the market in various countries worldwide. The demand for halal cosmetics in the Muslim countries was always good, but in the recent years the non Muslim countries are also adopting the halal cosmetics. There's a growing demand for using these cruelty free cosmetics for the welfare of the animals, all of these reasons are creating new opportunities for the halal market growth.
The certification for halal products are provided to the companies but there is not standardized. This happens to be a major challenge in the growth of this market. Halal cosmetics have a great competition from other organic and natural products.
Major Key Players:
By Product Type
By Distribution Channel
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