The global halal cosmetics market is on a remarkable growth trajectory, with an estimated revenue of USD 42.65 billion in 2023, poised to expand to USD 127.8 billion by 2033, representing a compound annual growth rate (CAGR) of 11.6%. The sector is experiencing dynamic growth, driven by increasing consumer demand for ethically sourced, safe, and natural beauty products that align with Islamic values and principles.
Key Opportunities in the Halal Cosmetics Market
- Increasing Muslim Population: With the Muslim population growing rapidly, especially in emerging economies, halal cosmetics are seeing expanded demand across regions such as Southeast Asia, the Middle East, and North Africa.
- Shifting Consumer Preferences: The demand for ethical beauty products is accelerating, as consumers increasingly seek products that align with their personal values, such as sustainability and cruelty-free production.
- Regulatory Support: Governments in key markets are adopting regulations to foster the halal cosmetics sector, offering a supportive environment for growth.
- Investment in Innovation: Companies are heavily investing in research and development to create cutting-edge formulations, incorporating natural, vegan, and cruelty-free ingredients.
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Key Trends
- Natural and Plant-Based Ingredients: The global demand for plant-based and natural products is fueling the popularity of halal cosmetics, which often emphasize these ingredients.
- E-commerce and Digital Marketing: The role of e-commerce in transforming the halal cosmetics market cannot be overstated. The convenience of online shopping, combined with effective digital marketing, is helping brands reach a broader, more diverse audience.
- Emerging Markets: The Asia Pacific region, driven by countries like Indonesia, India, and Malaysia, is expected to dominate the global halal cosmetics sector by 2032.
Competition Landscape
Key players in the halal cosmetics industry are adopting a range of strategies to succeed in a highly competitive market. Companies are focusing on innovation and technological advancements to stay ahead of evolving consumer demands, aiming to strengthen their brand presence and maintain a competitive edge.
In addition, halal cosmetics brands are increasingly turning to mergers and acquisitions to enhance operational efficiency and expand their in-house capabilities. Strategic alliances and partnerships are also playing a crucial role, enabling companies to broaden their market reach and enhance their service offerings. Meanwhile, the demand for new product launches remains strong, further driving growth in the sector.
Recent Developments in the Market
- In August 2020, two ex-L’Oreal employees began producing halal-certified cosmetics. Shade Beauty was formed in Dubai and has already released 15 halal-certified, clean, PETA-approved, vegan, and cruelty-free matte liquid lipsticks.
- Kao Corporation, a Japanese manufacturer of halal-approved cosmetics, worked with Lion Corporation in August 2021 to develop recyclable packaging and reduce the planet’s plastic footprint. Lion Corporation is a detergent, soap, pharmaceutical, and oral hygiene product maker.
Key Players
- Iba Cosmetics
- Martha Tilaar Group
- Clara International
- Kao Corporation
- Andalou Naturals
- Ivy Beauty Corporation Sdn Bhd
- Nature’s Dream
- Prolab Cosmetics
- Inglot Cosmetics
- One Pure
- Talent Cosmetics
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Key Segments
By Product Type:
- Skin Care
- Creams & Lotions
- Face Cleanser
- Others
- Hair Care
- Shampoo
- Conditioner
- Hair Oil
- Others
- Makeup
- Facial Products
- Eye Products
- Lip Products
- Nail Products
- Body Care
- Soaps
- Shower Gels
- Lotions
- Others
- Fragrance
By End User:
- Men
- Women
- Unisex
By Sales Channel:
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Multi-brand Stores
- Online Retailing
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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