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Pharmacy benefit management market
HALAL COSMETICS AND PERSONAL CARE PRODUCTS MARKET REPORT OVERVIEW
The global halal cosmetics and personal care products market size was 2166.1 million in 2022 and the market is projected to touch USD 3505 million by 2031, exhibiting a CAGR of 5.5% during the forecast period.
The market has witnessed a significant surge in recent years, reflecting the growing demand for products aligned with Islamic principles. This niche market caters to consumers seeking halal-certified beauty and hygiene items, ensuring compliance with Shariah law. With a focus on cruelty-free, ethically sourced ingredients, halal cosmetics appeal to a diverse global audience. The industry's expansion is driven by increased awareness of halal lifestyle choices and a desire for products free from prohibited substances. As mainstream brands also embrace halal certification, the market is poised for continued growth, reflecting a harmonious blend of beauty and religious values.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The COVID-19 pandemic has posed challenges for the market. Disruptions in the supply chain, restrictions on manufacturing facilities, and logistical hurdles have impacted production and distribution. Consumer purchasing behavior has shifted, with economic uncertainties leading to reduced spending on non-essential items, including cosmetics. The closure of physical retail spaces further hindered product accessibility. However, the industry has shown resilience, with online platforms becoming pivotal for sales. As hygiene awareness increased during the pandemic, there is potential for the halal personal care sector to rebound as consumers prioritize clean, ethically sourced products in the post-pandemic landscape.
LATEST TRENDS
"Innovative Formulations and Sustainability Drive Growth in the Market"
One of the latest trends shaping the halal cosmetics and personal care industry is the surge in demand for innovative formulations and sustainable practices. Consumers are increasingly seeking products that not only adhere to halal standards but also prioritize eco-friendly ingredients and packaging. Brands are responding by incorporating cutting-edge technologies, such as plant-based formulations and biodegradable packaging, aligning with the growing global focus on environmental consciousness. This trend reflects a harmonious blend of ethical choices, religious values, and a commitment to a greener future within the halal beauty and personal care sector.
HALAL COSMETICS AND PERSONAL CARE PRODUCTS MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into halal cosmetics, and personal care products.
Halal cosmetics encompass a wide range of makeup items, including foundations, lipsticks, eyeliners, and more, formulated in adherence to Islamic principles. On the other hand, halal personal care products extend to items such as skincare, haircare, and hygiene products, ensuring they are free from prohibited ingredients. Both segments respond to the increasing consumer demand for ethical and religiously compliant choices, reflecting a comprehensive approach to holistic well-being within the global halal beauty market.
By Application
Based on application the global market can be categorized into hair care, skin care, make-up, fragrance, and others.
Hair care products tailored to adhere to halal standards form a significant segment, offering solutions for halal-conscious consumers seeking ethical and effective hair treatments. Skincare products, including cleansers, moisturizers, and serums, cater to those prioritizing halal ingredients for skincare routines. Make-up, featuring halal-certified foundations, lipsticks, and eyeshadows, resonates with consumers seeking cosmetics that align with their religious values. Fragrances, crafted without prohibited substances, represent another pivotal category.
DRIVING FACTORS
"Rising Consumer Awareness to Propel Growth in the Market"
The increasing awareness among consumers about the ingredients in cosmetic and personal care products has been a major driving factor for the halal market. Discerning consumers are actively seeking products that align with their ethical and religious values, driving the demand for halal-certified items. This heightened consciousness has led to a shift in purchasing behavior, with consumers making informed choices and favoring brands that prioritize transparency in their formulations.
"Global Standardization to Drive Growth in the Market"
The establishment and recognition of uniform halal certification standards on a global scale have significantly propelled the halal cosmetics and personal care market. As regulatory bodies and industry organizations collaborate to create consistent and widely accepted halal standards, it enhances consumer trust and facilitates the international growth of halal products. This standardization not only simplifies the certification process for manufacturers but also opens up new markets, driving the industry toward a more cohesive and globally accessible future.
RESTRAINING FACTOR
"Supply Chain Challenges to Pose a Hindrance to Growth in the Market"
One significant restraining factor for the market is the intricate web of supply chain challenges. The industry relies on a complex network of suppliers, manufacturers, and distributors, making it susceptible to disruptions. Issues such as fluctuations in raw material availability, transportation constraints, and geopolitical uncertainties can impact the production and timely delivery of halal products. These challenges not only lead to potential product shortages but also contribute to increased production costs. Navigating these supply chain obstacles becomes crucial for companies in the halal beauty sector to ensure consistent availability and affordability of their products in the market.
HALAL COSMETICS AND PERSONAL CARE PRODUCTS MARKET REGIONAL INSIGHTS
"Asia Pacific to Dominate the Market Due to Large Muslim Population"
The dominance of the halal cosmetics and personal care products market share is anticipated to be prominently driven by the Asia-Pacific region. With a large Muslim population and a growing awareness of halal lifestyle choices, countries such as Indonesia, Malaysia, and Pakistan are emerging as key players in the halal beauty industry. The Middle East, particularly countries like Saudi Arabia and the UAE, also plays a pivotal role due to a strong cultural emphasis on halal products. These regions showcase a robust demand for cosmetics and personal care items that adhere to Islamic principles, making them focal points for halal cosmetics and personal care products market growth and innovation in the halal beauty sector.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market Through Innovation and Market Expansion"
The market is thriving with a surge in online retail, reflecting a growing consumer preference for convenient and accessible shopping. The rise of e-commerce platforms has provided consumers worldwide with easy access to a diverse array of halal-certified beauty and hygiene products. This digital transformation not only enhances the market's global reach but also accommodates the increasing demand for transparency and product information. With the convenience of online shopping, consumers can explore and choose from a wide range of halal products, contributing to the continued expansion and accessibility of the halal cosmetics and personal care market.
List of Market Players Profiled
- Amara Cosmetics (U.S.)
- INIKA Cosmetics (Australia)
- MMA BIO LAB SDN BHD (Malaysia)
- Golden Rose (Turkey)
- Sahfee Halalcare (Malaysia)
- SAAF International (U.K.)
- Sampure (U.K.)
- Ivy Beauty (U.K.)
- Mirror and Makeup London (U.K.)
- Clara International (Malaysia)
- Muslimah Manufacturing (Malaysia)
- PHB Ethical Beauty (U.K.)
- Zuii Certified Organics (Australia)
INDUSTRIAL DEVELOPMENT
- November 2021: A recent market development in the halal cosmetics and personal care products sector involves increased collaboration between industry players and certification bodies to establish and promote standardized halal certification processes. This development aims to streamline and enhance the credibility of halal claims, fostering consumer trust. Additionally, major beauty retailers are expanding their dedicated sections for halal products, responding to the growing demand. This move not only signifies mainstream acceptance but also provides a platform for smaller halal brands to reach a broader audience.
REPORT COVERAGE
The market is undergoing dynamic changes shaped by factors like increased consumer awareness, global standardization of halal certifications, and innovative industry players. Despite challenges posed by supply chain disruptions, the market continues to thrive, particularly in regions with a significant Muslim population. Recent developments highlight a concerted effort towards standardization and mainstream acceptance, further expanding the market's reach. The integration of e-commerce platforms and the commitment to sustainability and ethical practices underscore the resilience and adaptability of the industry. As consumers increasingly prioritize halal and ethical choices, the market is poised for sustained growth and evolution.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2166.1 Million in 2022 |
Market Size Value By |
US$ 3505 Million by 2031 |
Growth Rate |
CAGR of 5.5% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the halal cosmetics and personal care products market expected to touch by 2031?
The global in halal cosmetics and personal care products market is expected to reach USD 3505 million by 2031.
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What CAGR is the halal cosmetics and personal care products market expected to exhibit by 2031?
The halal cosmetics and personal care products market is expected to exhibit a CAGR of 5.5% by 2031.
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What are the driving factors of the interactive display screens Halal Cosmetics and Personal Care Products market?
The driving factor in the halal cosmetics and personal care products market is the increasing consumer awareness and global standardization of halal certification, fueling demand for halal-certified products globally.
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What are the key halal cosmetics and personal care products market segments?
The key Halal Cosmetics and Personal Care Products market segmentation that you should be aware of, which includes, based on type the halal cosmetics and personal care products market is classified as halal cosmetics, personal care products. Based on application the halal cosmetics and personal care products market is hair care, skin care, make-up, fragrance, and others