Halal Cosmetic Products Market Set to Reach $83.7 Billion by 2030, Reports MarkWide Research
MarkWide Research, in its latest report titled, “Halal Cosmetic Products Market,” anticipates substantial growth in the global market for cosmetics and personal care products that adhere to halal principles. The market is projected to exceed a valuation of $83.7 billion by 2030, with an estimated compounded annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2030. Halal cosmetic products are formulated with ingredients that comply with Islamic dietary and ethical standards, catering to the preferences of Muslim consumers worldwide.
The halal cosmetic products market is characterized by increasing awareness of halal lifestyles, clean beauty trends, and ethical consumer choices.
Key Findings from the Report:
- Clean and Ethical Beauty: The demand for clean and ethical beauty products is driving the growth of halal cosmetic products, which often align with natural and cruelty-free standards.
- Ingredient Transparency: Consumers are seeking transparency in product labeling and ingredient sourcing, prompting manufacturers to provide detailed information about halal certifications.
- Global Halal Standards: Organizations such as the Halal Cosmetic Standard (HCS) are setting global halal certification standards, facilitating market growth.
- Online Retail: E-commerce platforms are pivotal in making halal cosmetic products accessible to a global audience, offering convenience and a wide range of choices.
Segmentation of the Halal Cosmetic Products Market:
The halal cosmetic products market is segmented based on product type, distribution channel, gender, and region.
By Product Type:
- Skincare
- Haircare
- Makeup
- Fragrances
- Others
By Distribution Channel:
- Hypermarkets and Supermarkets
- Specialty Stores
- Online Retail
- Others
By Gender:
- Women
- Men
- Unisex
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Regional Insights:
- Asia Pacific: Asia Pacific is expected to lead the global halal cosmetic products market, with countries like Malaysia, Indonesia, and Pakistan contributing significantly to the market’s growth.
- Middle East and Africa: The Middle East and Africa region are witnessing growth, driven by a strong cultural preference for halal products and a burgeoning cosmetics industry.
- Europe: Europe is experiencing an increase in the demand for halal cosmetic products, with a focus on clean and ethical beauty.
- North America: North America is also witnessing a rise in the market, with consumers seeking halal alternatives to mainstream cosmetics.
Competitive Landscape:
The halal cosmetic products market features a wide array of manufacturers and brands that prioritize halal certification and ingredient transparency. Key players are introducing innovative products and expanding their presence in emerging markets.
Some of the prominent players in the halal cosmetic products market include:
- Amara Cosmetics
- Inika Organic
- Saaf Skincare
- Wardah Cosmetics
- The Halal Cosmetics Company
- Clara International
- MMA Bio Lab Sdn Bhd
- Talent Cosmetics
- PHB Ethical Beauty
- T’ZIKAL Beauty
Future Outlook:
The global halal cosmetic products market is expected to continue its growth trajectory, with an estimated market size exceeding $83.7 billion by 2030. As consumers increasingly prioritize clean, ethical, and halal beauty choices, the market will remain dynamic and diverse. MarkWide Research’s comprehensive report offers valuable insights into market trends, ingredient sourcing, certification standards, and regional developments, making it an essential resource for businesses and brands looking to cater to the growing demand for halal cosmetic products.