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Pharmacy benefit management market
Halal Hair Care Market Report Overview
The global halal hair care market size was valued at USD 0.51 billion in 2023 and is projected to touch USD 0.91 billion by 2032, exhibiting a CAGR of 6.6% during the forecast period. Asia-Pacific holds leading position in halal hair care market share in 2023.
The term "halal hair care" refers to the production of hair care items in line with Islamic law and the absence of any components that are prohibited by Islamic law. Alcohol, substances produced from animals, and any other ingredients deemed impure or toxic are often absent from these hair care products. The market is fueled by rising halal product demand as well as rising consumer awareness of the health advantages of utilizing natural and organic hair care products. The industry is also fueled by the expanding Muslim population, which is raising the demand for halal-certified goods.
Alcohol, substances produced from animals, and any other ingredients deemed impure or toxic are often absent from these hair care products. Both Muslims and non-Muslims can use them because they are made to be secure and healthful. The components used to make them are frequently all-natural or organic and free of harsh chemicals or artificial smells. They are getting more and more well-liked as a result of the rising demand for natural and organic hair care products and the growing understanding of the advantages of utilizing halal products for one's health.
COVID-19 Impact: Industry Shutdown Causes Market Distortion
The global COVID-19 pandemic has been unprecedented and staggering, with halal hair care experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
For consumer goods companies, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for consumers in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of consumers are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall consumer industry. This has partially impacted the halal hair care market.
LATEST TRENDS
"Digital Integration to Boost the Market Growth"
The increasing demand for natural and organic hair care products is one of the key trends in the market. Customers are searching for safer and healthier hair care choices as they become more aware of the potential health dangers linked to synthetic chemicals. They are a popular option for customers looking for safe and healthy hair care products because they are frequently manufactured with natural and organic components that are free from harsh chemicals and synthetic smells. The market demand for natural and organic hair care products is also influenced by the fact that natural and organic components are frequently more environmentally responsible and sustainable than synthetic chemicals. In order to satisfy the rising consumer demand, many hair care businesses are putting more of an emphasis on employing natural and organic components in their products. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the increasing digital integration will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.
Halal Hair Care Market Segmentation
- By Types
Based on type, the market is classified into shampoo, hair color, hair oil & conditioners.
- By Application
Based on the market is categorized into hypermarkets & supermarkets, drugstores and pharmacies, specialty stores & department stores.
DRIVING FACTORS
"Muslim Population that Gives the Market Extra Boost"
The increasing Muslim population has a significant impact on the growth of the Halal hair care industry. A larger consumer base for these hair care products directly results from an increase in the number of Muslims around the world. There is a rising need for hair care products that adhere to Halal standards, such as being devoid of alcohol and materials produced from animals, as more people identify as Muslims. Businesses now have more opportunity to serve the unique demands and preferences of Muslim customers because of this growing customer base. Along with a rise in population, Muslims are also seeing an increase in their disposable money. Muslim consumers are now better able to spend more on halal hair care because of the economy's expansion. The willingness to spend money on high-quality hair care items that are consistent with one's religious convictions has increased as a result. As a result, the growth, and the increasing Muslim population will boost the market. It will contribute to the expansion of the consumer goods industry and it will improve the overall halal hair care market growth.
"Halal Industry to Encourage Market Expansion"
The expansion of the Halal industry has played a significant role in the growth of the Halal hair care industry. There is now a broader variety of Halal-certified hair care products on the market as a result of the growth of the halal business. More businesses are releasing or expanding their product lines to offer these hair care choices as they become more aware of the possibilities of the Halal market. Customers now have more options thanks to the increased availability, which motivates them to switch to Halal-certified goods. The growth of the Halal sector has sparked new product creation and innovation. In order to produce innovative formulas that satisfy Halal regulations while offering efficient hair care solutions, businesses are investing in research and development. Over the course of the forecast period, the aforementioned factors are anticipated to affect sales of the industry. This will increase demand for the product and help the industry as a whole to expand. The product line expansion is helping the market to grow.
RESTRAINING FACTORS
"High Cost to Impede Market Expansion"
The price of the product is the element limiting market expansion. In comparison to traditional hair care products, manufacturing Halal-certified goods frequently necessitates additional procedures, certifications, and compliance requirements. Some businesses may be discouraged from entering or growing in the Halal hair care sector because of these expenses, particularly smaller ones with fewer resources. Consumers' purchasing decisions may be impacted by the higher product prices resulting from the increased production costs. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.
Halal Hair Care Market Regional Insights
"North America Dominating the Market Across the Globe"
The market for halal hair care in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product used in hypermarkets & supermarkets, drugstores and pharmacies; specialty stores & department stores is boosting the halal hair care market share. Trends toward rapid urbanization will support the market as a whole even more.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.
LIST OF TOP HALAL HAIR CARE COMPANIES
- Procter & Gamble (U.S.)
- Johnson & Johnson (U.S.)
- Estee Lauder (U.S.)
- Unilever (U.K.)
REPORT COVERAGE
The market segmentation by type and application is covered in great detail in the study. A wide range of participants, including current and potential market leaders, are examined in the study. A number of significant factors are expected to lead to a sizeable market expansion. In order to gain market insights, the research also looks at factors that could raise the share of halal hair care. Forecasts for market growth over the anticipated time period are made in the report. Explaining why one region dominates the global market is the goal of regional research. A number of properly considered factors limit the industry's ability to expand. A strategic analysis of the market is also included in the research. It contains comprehensive market data.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 0.51 Billion in 2023 |
Market Size Value By |
US$ 0.91 Billion by 2032 |
Growth Rate |
CAGR of 6.6% from 2023 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Types
|
|
By Application
|
Frequently Asked Questions
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What value is the halal hair care market expected to touch by 2032?
The global halal hair care market size was valued at USD 0.51 billion in 2023 and is projected to touch USD 0.91 billion by 2032.
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What CAGR is the halal hair care market expected to exhibit by 2032?
The halal hair care is expected to exhibit a CAGR of 6.6% by 2032.
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Which are the driving factors of the halal hair care market?
Muslim population that gives the halal hair care market extra boost & halal industry to encourage market expansion.
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What is the restraining factor of the halal hair care market?
High cost to impede halal hair care market expansion.