Global halal cosmetic products market is forecasted to reach 42.23 billion USD by 2024, registering a CAGR of 13.12% during the forecasted period (2019 - 2024).
- Most of the traditional markets across the globe are getting saturated, however, the Muslim community is developing some fast-growing consumer products and segments across the globe. One of these most promising segments witnessing the fastest growth in recent years is the halal cosmetics products market. This segment is offering a key growth opportunity for personal care and cosmetics manufacturers worldwide.
- Color cosmetic product type segment is expected to grow at the fastest growth rate in global halal cosmetic products market attributable to the increasing number of young Muslim population associating their lifestyle and appearance with Islamic rules.
Scope of the Report
Global halal cosmetic products market is segmented by product type into skin care, hair care, color cosmetic, and fragrances. By distribution channel, the global halal cosmetic products market is segmented into, supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others.
Key Market Trends
Growing Muslim Population Worldwide to Fuel the Revenue Growth
The global halal cosmetic products market is driven by the increasing number of Muslims globally. Muslims account for approximately 25% of the global population. In 2015, the expenditure of Muslims on cosmetic products increased by 10% globally. Moreover, increasing health concerns among consumers after using cosmetic products across the globe is fueling the need for special cosmetic products thus, driving the market for halal cosmetic products globally. Furthermore, increasing awareness of Muslim consumers on their religious obligations has contributed towards the increasing demand for halal-certified cosmetic products globally.
Burgeoning Demand for Cosmetics From Asia Pacific Region
Demand for cosmetic products in the Asia Pacific is increasing rapidly with India and China being one of the largest emerging markets globally. Approximately, 15% of the Indian population is Muslim, thus giving the halal cosmetic products a lucrative opportunity for growth. In this regards, Iba Halal Care is the first producer of cosmetic products with Halal certification. Furthermore, Malaysia is one of the largest exports markets in comparison with Southeast Asian neighbor for halal products. For instance, as per data revealed by the Global Islamic Economy report, in 2017, Malaysia exported USD10.5 billion worth of certified products, up 32% from four years earlier in local-currency terms. Food accounted for nearly half the exports, along with cosmetics, chemicals, and other products.
Global halal cosmetic products market is a highly competitive market, with the presence of various domestic and international players. Amara Halal Cosmetics, IBA Halal care, MMA BIO LAB SDN BHD, Ecotrail Personal Care, CLARA INTERNATIONAL BEAUTY GROUP, INIKA Organic are some of the players operating in the global halal cosmetic products market.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Skin Care
5.1.2 Hair Care
5.1.3 Color Cosmetics
5.2 Distribution Channel
5.2.2 Specialty Stores
5.2.3 Convenience Stores
5.2.4 Online Stores
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.3 Asia Pacific
184.108.40.206 Rest of Asia Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
6.4.1 Amara Halal Cosmetics
6.4.2 INIKA Organic
6.4.3 IVY Beauty Corporation Sdn Bhd
6.4.4 Clara International
6.4.5 Iba Halal Care
6.4.6 MMA BIO LAB SDN BHD
6.4.7 Elaheh Halal Cosmetics Inc.
6.4.8 Sampure Minerals
6.4.9 The Halal Cosmetics Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.