According to a report,“Halal Cosmetics Market Analysis By Product (Skin Care, Hair Care, Makeup), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), Competitive Landscape, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc., The global halal cosmetics market is expected to reach USD 52.02 billion by 2025. Awareness levels of Muslim populace regarding the ingredients used in cosmetic and personal care formulations to determine the industry’s future growth trajectory.
Key Takeaways from the report:
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Asia Pacific was the dominant region and accounted for nearly three-quarters of the overall revenue in 2015.
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Countries such as India, Malaysia, Indonesia, Bangladesh, Pakistan and Maldives are characterized by considerable Muslim population and improving socio-economic conditions The above stated factors are crucial for halal cosmetics growth globally since Asia Pacific accounts for nearly 45% of the global Muslim population
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The Middle East is also an important consumer hub for the industry, particularly considering high income levels in UAE, Saudi Arabia, Jordan, and Oman. Furthermore, as a more structured Islamic society, the region is a natural growth driving factor for the global industry
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Hair care product segment is anticipated to grow at a CAGR of 12.3% in terms of revenue over the forecast period. In view these evolving consumer requirements, manufacturers are trying to comply with Islamic code of law by incorporating more ingredients that are in compliance with the sharia law
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Major key operating companies include Clara International, INIKA, Talent Cosmetic Co., Ltd., MMA Bio Lab Sdn Bhd, The Halal Cosmetics Company, Saaf Skincare and Prolab Cosmetics, Martha Tilaar Group, and IBA Halal Care.
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Shiseido, a Japanese company sells 28 halal skin care products under the brand name Za Brand in Malaysia. Colgate-Palmolive Company also offers toothpaste products which are halal certified
U.S. halal cosmetics market by product, 2014-2025 (USD Million)
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With considerable Islamic population and their ingraining of cultural aspects into daily lifestyles has pushed the mainstream beauty-care industry to also concentrate on product offerings that are halal-certified. To the extent, consumers are willing to pay a premium price for these goods keeping in view ethical beliefs.
Countries such as Malaysia, Thailand, and Indonesia offer tremendous opportunities for growth as a result of Islam being a predominant sect and simultaneous socio-economic growth of individuals. Furthermore, products certified by recognized bodies, such as JAKIM (Jabatan Kemajuan Islam Malaysia), will also boost consumer confidence and further propel growth.
Halal cosmetics market share, by region, 2015
Malaysia and Indonesia together accounted for nearly 60% of the Asia Pacific revenue in 2015, with skincare and makeup being the dominant products consumed. Personal care and beauty-care launches in Malaysia outnumbered UK and Philippines, primarily due to local brands such as SimplySiti and IVY Beauty.
Grand View Research has segmented the halal cosmetics market on the basis product and region:
Halal Cosmetics Product Outlook (Revenue, USD Million; 2014 – 2025)
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Skin Care
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Hair Care
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Makeup
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Others
Halal Cosmetics Regional Outlook (Revenue, USD Million; 2014 – 2025)
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North America
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U.S.
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Europe
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Germany
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UK
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France
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Asia Pacific
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China
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Japan
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India
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Malaysia
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Indonesia
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CSA
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Brazil
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MEA
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Saudi Arabia
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Kuwait
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UAE
Explore halal cosmetics market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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