The global halal cosmetics market is expected
to reach USD 52.02 billion by 2025, according to a new report by Grand View
Research, Inc. Awareness levels of Muslim populace regarding the ingredients
used in cosmetic and personal care formulations to determine the industry’s
future growth trajectory.
With considerable Islamic
population and their ingraining of cultural aspects into daily lifestyles has
pushed the mainstream beauty-care industry to also concentrate on product
offerings that are halal-certified. To the extent, consumers are willing to pay
a premium price for these goods keeping in view ethical beliefs.
Countries such as Malaysia,
Thailand, and Indonesia offer tremendous opportunities for growth as a result
of Islam being a predominant sect and simultaneous socio-economic growth of
individuals. Furthermore, products certified by recognized bodies, such as
JAKIM (Jabatan Kemajuan Islam Malaysia), will also boost consumer confidence
and further propel growth.
Malaysia and Indonesia together
accounted for nearly 60% of the Asia Pacific revenue in 2015, with skincare and
makeup being the dominant products consumed. Personal care and beauty-care
launches in Malaysia outnumbered UK and Philippines, primarily due to local
brands such as SimplySiti and IVY Beauty.
Browse full research report on Global
Halal Cosmetics Market: http://www.grandviewresearch.com/industry-analysis/halal-cosmetics-market
Further key findings from
the report suggest:
- Asia Pacific was the dominant region and accounted for nearly three-quarters of the overall revenue in 2015.
- Countries such as India, Malaysia, Indonesia, Bangladesh, Pakistan and Maldives are characterized by considerable Muslim population and improving socio-economic conditions The above stated factors are crucial for halal cosmetics growth globally since Asia Pacific accounts for nearly 45% of the global Muslim population
- The Middle East is also an important consumer hub for the industry, particularly considering high income levels in UAE, Saudi Arabia, Jordan, and Oman. Furthermore, as a more structured Islamic society, the region is a natural growth driving factor for the global industry
- Hair care product segment is anticipated to grow at a CAGR of 12.3% in terms of revenue over the forecast period. In view these evolving consumer requirements, manufacturers are trying to comply with Islamic code of law by incorporating more ingredients that are in compliance with the sharia law
- Major key operating companies include Clara International, INIKA, Talent Cosmetic Co., Ltd., MMA Bio Lab Sdn Bhd, The Halal Cosmetics Company, Saaf Skincare and Prolab Cosmetics, Martha Tilaar Group, and IBA Halal Care.
- Shiseido, a Japanese company sells 28 halal skin care products under the brand name Za Brand in Malaysia. Colgate-Palmolive Company also offers toothpaste products which are halal certified
Grand View Research has segmented the halal cosmetics market
on the basis product and region:
Halal Cosmetics Product Outlook (Revenue, USD Million;
2014 - 2025)
- Skin Care
- Hair Care
- Makeup
- Others
Halal Cosmetics Regional Outlook (Revenue, USD Million;
2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- Malaysia
- Indonesia
- CSA
- Brazil
- MEA
- Saudi Arabia
- Kuwait
- UAE
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
No comments:
Post a Comment