Halal Cosmetics Market Global Industry Growth By type, Competitor Analysis, By Forecast (2020-2030).

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Halal Cosmetics Market Overview:

The halal cosmetics industry is a growing sector of the beauty industry that caters to the needs of Muslims who want to adhere to a lifestyle that is in line with Islamic teachings. Halal cosmetics products are those that use ingredients that are considered permissible under Islamic law and are free from any animal-derived ingredients that are not permissible under Islamic law. The industry has seen an increase in demand in recent years due to the rise of Muslim populations globally, as well as an increasing awareness of the need for cruelty-free, vegan, and natural cosmetics. This will boost the global halal cosmetics market. Market Research Future (MRFR) predicts Halal cosmetics market size is anticipated to reach USD 52.67 billion by 2030, registering a CAGR of 9.20% during 2022-2030.

Segmentation:

The global market for halal cosmetics market has been studied by expert market analysts from MRFR from the perspective of product type and distribution channel. These segments have data with proper backing from scientific studies that can provide insights and help in forming strategies that would increase the profit margin.

By product type, the global report on the halal cosmetics market can be segmented into hair care, skin care, multifunctional, color cosmetics, and others. The skin care segment has the maximum market share whereas the color cosmetics segment is slated to record the fastest CAGR during the forecast period.

By distribution channel, the global report on the Halal Cosmetics Industry has been segmented into store-based and non-store-based. The store-based segment has the highest market share, which can be segmented into supermarkets & hypermarkets, convenience stores, and others. This is primarily due to the opportunity to check the products and compare them with others before buying. The non-store-based segment is the fastest growing one.

Competitive Landscape:

Inika, PHB Ethical Beauty, MMA Bio Lab Sdn Bhd., Iba Halal Care, Amara Cosmetics, Clara International, Martha Tilar Group, Wardah Cosmetics, Sampure Minerals, Wipro Unza, One Pure, Ivy Beauty Corporation Sdn Bhd., Halal Cosmetics Company, Talent Cosmetics Ltd., Paragon Technology and Innovation, Brataco Group of Companies, Mena Cosmetics, and SaafSkinCare are some of the major companies that would trigger better growth for the global market through their strategic moves spanning over merger, tie-up, innovation, branding, launching, research and development scope, acquisition, and others.

Regional Analysis:

North America would take the charge of the global Key Halal Cosmetics Market Players Increasing presence of various manufacturers, realization among people, and others are expected to boost the global market. In Asia Pacific, the growth would be substantial with the fastest CAGR during the forecast period.

Industry News:

In June 2020, Mersi Cosmetics announced that they are ready to enter the Halal cosmetics industry by launching their new breathable and certified Halal nail polish line. The company is launching around 20 different shades and their names would evoke natural wonders. The nail polish would allow easy permeation of water and oxygen through the nails, which will provide users a rich experience. This will make sure that the nails stay hydrated. This will also help in performing ablution without removing the nail polish.

The impact of COVID-19 would be immense on the market for halal cosmetics. This is due to the tumbling effect the pandemic had on various economies. In many countries, lay-offs and pay-cuts are taking places, which will impact the intake of the product. In developing countries, the market may experience a plummet due to this fall in disposable income. However, this will be temporary. With economies lifting bans, prospects will soar, and the market will expand.

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