Halal Cosmetics Market Size is Set to Growth With 11.81% CAGR Through 2026
Halal cosmetics market growth is witnessing a 11.81% CAGR driven bythe global increase in Muslim populations and purchasing power has created a new demand for halal cosmetic product development.
Growing consciousness among the consumers regarding the usage of ingredients in cosmetic products are resulting to the increase in halal cosmetics products
Since halal cosmetics do not contain animal-derived ingredients and alcohol content, and are subject to halal regulations, they are considered pure and relatively hygienic compared to regular cosmetics.
Increased awareness among the younger Muslim population about their religious obligations and set practices has also added in the widespread awareness of halal cosmetics, especially in countries with a large Muslim population.
Maintainingadequate certification and standardization integrity with halal cosmetics
Cosmetics that are labelled as halal need to be examined properly as per the setregulations for approving cosmetics as halal certified. Therefore, there is a need forhalal certification by authorized bodies, as this certification increased the trust ofconsumers on halal products, which has also translated into the growth of the market.
There are strict guidelines regarding the raw materials that can be used in halalcosmetics and also there are guidelines regarding the packaging, handling, andstorage of these products.
Maintaining the integrity of halal cosmetics among consumers is a challenge forvendors. Halal means lawful and in the purest form. Hence, the practice of offeringhalal cosmetics is not limited to the manufacturing of these products but applies to allthe activities involved in the supply chain. Hence, it becomes important for vendors toensure the cosmetics remain unadulterated and compliant to halal standardsthroughout the supply chain.
Vendors have to take immense care to comply with thereligious obligations and ensure that halal cosmetics are prepared and packed as perthe Islamic law and are not contaminated by prohibited ingredients.
Since consumersare usually concerned about the authenticity of halal products, it becomes imperativeto reinstate consumer confidence by putting in place effective procedures to gain thevisibility of the entire supply chain, which is cumbersome and challenging.
Growing Demand from Non-Muslim Countries, Launches of Halal Cosmetics Products
The growing demand from non-Muslim countries for halal cosmetics offers hugepotential for the global halal cosmetics market. Currently, the sales of halal cosmeticsare not limited to the Muslim population.
Many global personal carecompanies entering this market are manufacturing and distributing halal beauty careproducts across the globe, they are similar to organic personal care products, andconsumers consider them safe and of high quality.
The introduction of innovative halal personal care products is a key market trend observed inthe halal cosmetics market, the demand in the market has led to theintroduction of a wide variety of products that cater to different age groups andlifestyles.
Many companies are investing in R&D to develop halalpersonal care products that are approved and certified as per halal standards. Firmssuch as BASF and Avon are also getting their ingredients certified for the halal market.
Also, with the underlining demand for halal cosmetics, there has been a growth incompanies entering the space. Iba Halal Care and Amara Cosmetics are among thepopular players that have launched halal-certified cosmetics.
With a relative growth in awareness and new products linesthe halal cosmetics marketis expected towitness further market growth.
Leveraging online channel of Halal Cosmetics
Online retailing is gaining immense popularity with increased internet penetrationacross the globe. This will open a huge potential for competitors in the global halalcosmetics market to increase their sales and their profitability.
This market trend has encouraged manyfirms to focus on the new internet-savvy customer segment and mark theirpresence in online, with online retailing, even vendors save on operating costs.
Also,with an increase in promotions through social media platforms, growth in onlinepromotional campaigns, and improvement in logistics, the demand for halal personalcare products through online retailing is expected to benefit during the forecast period
APAC to set the shape of the Halal Cosmetics Market growth in forecast period
APAC is home to most of the Muslim population, and the region is, therefore, witnessing a relatively high demand for halal cosmetics coupled with their improving socio-economic factors followed by the other regions.
In fact, they are widely accepted by other communities, especially in India and China, as they are considered safe, are of high quality, and are prepared using hygienic procedures. The integrity of these cosmetics is being maintained during the production process.
Asia Pacific is anticipated to capture the largest market share due to the presence of emerging Muslim population in countries such as Indonesia, Malaysia, India, Bangladesh,Turkey, Pakistan and Maldives.
Malaysia comprises of great potential to emerge as a global halal hub owing to the rising demand of cosmetics and toiletries products. Middle East which includes United Arab Emirates, and Saudi Arabia among others is expected to have an important customer base due to their improvement in income levels.
Thedemand for the halal-certified product has increased in Europe and North America; however, halal-certified cosmetic products in these regions often fall short of consumer perceived halal credentials, as the formulation often comes close to regular or natural and organic cosmetics. Therefore, the challenge is to have products complying to different regulations in different countries in the absence of one uniform standard.
The Prominent Players Contributing to the Halal Cosmetics Market
The key players include Amara Halal Cosmetics, INIKA Organic, IVY Beauty Corporation SdnBhd, Clara International, Iba Halal Care, MMA BIO LAB SDN BHD, Elaheh Halal Cosmetics Inc., Sampure Minerals, The Halal Cosmetics Company
Recently, Iba Halal Care launched its range of Iba Halal Care Breathable Nail Color, by applying these nail colours it allows both oxygen and moisture reach your nails keeping them fresh, hydrated and alluring.
In February 2019, Inika launched new mascaras with 100% natural and vegan ingredients, in three variants.