(I-BusinessNews.Com, October 19, 2021 ) As per Islamic law, Halal denotes permissible and lawful, whereas haram means prohibited. According to Islamic law, the term halal-haram rule is a part of the entirely legal system.” Halal” is often associated with food. Moreover, Halal cosmetics products are gaining traction and surging demand among 2.4 billion Muslim populations worldwide. Apart from the Muslim population, the non-Muslim population attributes these products with ethical consumerism and more stringent quality assurance standards. Halal cosmetics should not contain ingredients derived from blood, pig, human body parts, predatory animals, reptiles, insects, etc. The Worldwide Halal Cosmetics Market Size was valued at US$ 29.13 Billion in 2020.
By Product - Color Cosmetics Product is anticipated to Grow Rapidly
Globally, the demand for halal cosmetics products among consumers is surging. But the development of halal cosmetics and the assessment of their product performance are still in their infancy, as cosmetics production is still dominated by the non-halal sector globally. Furthermore, there is a worldwide dearth of guiding documents on the development and assessment techniques in the production of comprehensively Halal Cosmetics. This report covers the global halal cosmetics market into Personal care products, Color cosmetics, Fragrances and Other products. By product, Color cosmetics product is anticipated to grow rapidly due to the younger population rising because of lifestyle changes. As per this report, Global Halal Cosmetics Industry will grow with double-digit CAGR of 19.97% during 2020-2027.
Factors fuelling Market Growth for Halal Cosmetics Industry
Increasing Muslim population worldwide, surging halal-certified cosmetics manufacturers, growing demands of organic color cosmetics, Online channels, most probably ecommerce and social media playing a crucial role among younger consumers globally hence giving traction to this market growth. However, high costs associated with products and lacks of standard guidelines for halal certification are some of the challenges facing this market.
By Region - Asia-Pacific’s Region dominates the Halal Cosmetics Industry Globally
We have studied the global halal food market into North America, Europe, Asia-Pacific’s, and South America & Middle East. Among all other regions, Asia-Pacific’s region dominates the halal cosmetics industry worldwide. As most of the Muslim population belongs to this region simultaneously, the market penetrate both big and small sizes with a wider range of products is one of the prime reasons for the rise of this market in the Asia-Pacific’s region. According to Renub Research, Global Halal Cosmetics Market is expected to be US$ 104.17 Billion in 2027.
COVID -19 Impacts on Halal Cosmetics Industry
Across the globe, the halal cosmetics market have taken a hit by the COVID-19 pandemic and gives room to new products such as hand sanitizers, cream, eye care etc. As the mask-wearing, restrictions, and social distancing became a norm. Due to the pandemic, recovery of the cosmetics product market is expected to be sluggish in 2021, but it will recover during the forecast period as per Renub Research projection. The major players covered in the global halal cosmetics market are Amara Cosmetics, S&J International Enterprises, Ester Lauder Companies, L’Oréal.
Renub Research latest report titled “Halal Cosmetics Market, Global Forecast by Product (Personal care products, Color cosmetics, Fragrance and Other products) Application (Skin Care, Hair Care, Beauty Care, Others) Distribution Channel (Online & Offline) Regions (North America, Europe, Asia-Pacific’s, and South America & Middle East.) Company (Amara Cosmetics, S&J International Enterprises, Ester Lauder Companies, L’Oréal)" provides comprehensive details on Global Halal Cosmetics industry.
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