The global halal cosmetic products market size was US$ 24,731.8 million in 2021. The global halal cosmetic products market size is forecast to reach US$ 62,246.3 million by 2030, growing at a compound annual growth rate (CAGR) of 10.8% during the forecast period from 2022 to 2030.
Request To Download Sample of This Strategic Report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1588
In the context of cosmetics, the term “halal” simply refers to goods created, produced, and containing substances that are legal according to Islamic Sharia law. Cosmetics labeled “halal” cannot contain any components or materials from humans. Moreover, any animals that Muslims are prohibited from eating or that are not killed in accordance with Sharia law. Additionally, anything deemed to be najis (defined as dirt, including items that are in and of themselves forbidden, such as pigs and their derivatives, blood, and carrion, as well as liquids or items expelled from people’ or animals’ bodies, such as urine, feces, blood, vomit, and pus). Additionally, contamination from najis during preparation, processing, manufacture, or storage; and alcohol from alcoholic beverages (khamr), according to Ghanim.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
The growing Muslim populations and their purchasing power drive the global market.
The rising population of absolute vegans worldwide boosts global market growth.
The increasing awareness about the use of cosmetic products fuel the global market growth.
The dearth of authentication rules and the short shelf life of organic products may slow down the overall market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic has had a significant impact on the markets for halal cosmetics around the world, but it has also opened doors for new product categories like creams, face creams, eye care, and sanitizers because the outbreak has changed consumer demand for above-the-mask products like eye care, eye make-up, hand creams, face creams, and others. The majority of traditional markets around the world are becoming crowded.
Regional Analysis
The Asia Pacific region garnered a substantial share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising expenditure on personal care products, growing awareness of the risks of transdermal cosmetics, and a surge in the desire for eco-friendly cosmetics. In addition, the existence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan, and a considerable majority of the Muslim population in these nations.
Get a Sample PDF copy of the report :-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1588
The Middle East and Africa are forecast to have considerable growth during the forecast period. As a result of the extensive Muslim population. In addition, Saudi Arabia is one of the largest markets in the Middle East for cosmetics and fragrances.
Leading Competitors
The leading prominent companies profiled in the global halal cosmetics products market are:
Saaf Skin Care
Clara International
Inika
Prolab Cosmetics
NUTRALab
The Halal Cosmetics Company
Kose
Sampure Minerals Amara Cosmetics Inc.
IBA Halal Care
Croda
Wardah Cosmetics
Amara Cosmetics
Onepure
PHB Ethical Beauty
Mena Cosmetics
Other Prominent Players
Scope of the Report
The global halal cosmetics products market segmentation focuses on Product, Distribution Channel, and Region.
Segmentation based on Product
Skin Care
Hair Care
Makeup
Others
Segmentation based on Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online Stores
Others
Inquire more and share questions if any before the purchase on this report at:-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1588
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
Full Report Description, TOC, Table of Figure, Chart, etc.-https://reportocean.com/industry-verticals/sample-request?report_id=bwcc1588
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES Tel: +1 888 212 3539 (US – TOLL FREE)
Website:https://www.reportocean.com/