The global Halal Cosmetics Market is forecast to reach USD 66.33 Billion by 2027, according to a new report by Reports and Data. The market is being driven by the increasing number of Muslim population globally. Muslims account for approximately 25% of the worldwide population. An increase in the health concerns among consumers after using cosmetic products is fueling the need for special cosmetic products, which is, driving the market for halal cosmetic products.
The research report delivers a comprehensive assessment of the existing and projected market scenario to offer estimations of the anticipated growth rate of the industry vertical. Moreover, the report also offers key solutions and methodologies to help the companies and readers overcome the impact of the COVID-19 pandemic on the market.
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Key participants include MMA Bio Lab Sdn Bhd, Talent Cosmetic Co., Ltd., PHB Ethical Beauty, Ivy Beauty Corporation Sdn Bhd, The Halal Cosmetics Company, Sampure Minerals, INIKA, Amara Cosmetics, Inc., Clara International, and Martha Tilaar Group, among others.
Further key findings from the report suggest
• A growing Muslim population in the world, along with an increasingly high disposable income, is augmenting the demand for halal hair care products. The main reason for this is the obligations towards religion and awareness regarding ethical products. The growing popularity of this product among the male population is also fostering the growth.
• Halal cosmetic products must label according to the prescribed labeling requirement of the regulatory bodies of respective countries. The label on the product must bear a halal logo and reflect the ingredients of the product accurately as a means to aid the consumer in their decision as well as the consumption of the product. All the text, illustrations, and its advertisement must comply with Islamic law and local culture.
• The online segment dominated the market for halal cosmetics owing to the growing penetration of internet and smartphones in the developing Muslim countries. The e-commerce sector is trying to branch out and cover as much as possible to boost its sales.
• The market in Middle East is expected to be the fastest-growing regional market in 2019. Favorable government rules in GCC countries is driving the halal cosmetics market. The growing populace in the Middle Eastern nations is driving the overall market.
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For the purpose of this report, Reports and Data have segmented the global Halal Cosmetics market on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
• Personal Care Products
• Color Cosmetics
• Fragrances
Application Outlook (Revenue, USD Billion; 2017-2027)
• Hair Care
• Skin Care
• Face Care
• Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
• Online
• Offline
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
o U.S
• Europe
o U.K
o France
• Asia Pacific
o China
o India
o Japan
• MEA
• Latin America
o Brazil
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Identifying the basic business drivers, challenges, and tactics adopted:
• The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Halal Cosmetics market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
• An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
• Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
• The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
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