“Halal
Cosmetic Product Market: Global Demand, Growth Analysis & Opportunity
Outlook 2023”
The global halal cosmetic
product market is segmented into product such as skin care, color cosmetics,
hair care and fragrances. Among these segments, skin care segment is expected
to occupy top position in overall halal cosmetic product market during the
forecast period. Increasing demand for halal skin care products is driving the
growth of the market. Further, increasing Muslim population across the globe is
also anticipated to foster the growth of the halal cosmetic product market.
However, color cosmetics segment is likely to grow at highest CAGR in overall halal
cosmetic product market.
Global halal cosmetic product market
is expected to flourish at a significant CAGR of 14.1% during the forecast period.
Moreover, the global halal cosmetic product market is expected to garner USD 53
Billion by the end of 2023. High spending (about USD 54 Billion in 2016) on
cosmetics and personal care by Muslims is driving the growth of Halal
Cosmetic Product Market. Moreover, rising demand for vegan
friendly cosmetic products is expected to impel the growth of the global halal
cosmetic market.
Middle East market is
anticipated to make significant contribution to in the overall halal cosmetic
product market. Moreover, domination of Islamic atmosphere in the region is
propelling the demand for halal cosmetic product. Asia Pacific is expected to
showcase lucrative growth in the upcoming years. This can be attributed to high
Muslim population in the region. Moreover, presence of halal certification
organizations in the region is also expected to positively impact the growth of
the halal cosmetic product market in Asia Pacific. Indonesia and Malaysia are
believed to witness augmented demand for halal cosmetic products during the
forecast period.
Increasing
Muslim Population in the World
Rising number of Muslim
population across the globe is anticipated to significantly impact the demand
for halal cosmetics during the forecast period. Apart from this, high demand
for halal cosmetic products in Muslim dominant countries owing to religion
ethos is fostering the growth of the global halal cosmetic product market.
Growing
Expenditure on Personal Care & Cosmetics Product by Muslim Population
Increasing spending by global
Muslim population on the purchase of cosmetics product is anticipated to
trigger the growth of the halal cosmetic products market during the forecast
period. Moreover, growing fashion and makeup activities among young Muslim
women is envisioned to bolster the growth of the global halal cosmetic product
market. Although, high cost associated with halal certified cosmetic products,
low awareness about the halal cosmetic products among population and varying
halal certification standards as per the countries are some of the key factor
which is likely to dampen the growth of global halal cosmetic product market
during the forecast period.
The report titled “Halal Cosmetic Product Market: Global
Demand, Growth Analysis & Opportunity Outlook 2023” delivers detailed overview of
the global halal cosmetic product market in terms of market segmentation by product,
by distribution channel and by region. Further, for the in-depth analysis, the
report encompasses the industry growth drivers, restraints, supply and demand
risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global halal
cosmetic product market which includes company profiling of Amara Cosmetics Inc,
INIKA Cosmetics, Martha Tilaar Group, EL Asira, SAAF International, Samina Pure
Makeup, Wardah Cosmetics, Zuii Organic, Clara International and OnePure, LLC. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global halal cosmetic product market that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
For more details visit @ https://www.researchnester.com/reports/halal-cosmetic-product-market-global-demand-growth-analysis-opportunity-outlook-2023/207
Contact for more Info:
Name:-
Ajay Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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