New York, NY Dec 09 2019: The
global halal cosmetics
market is anticipated to reach USD
22.53 billion by 2026 according to a new study published by Polaris Market
Research. The market growth is primarily due to increase in Muslim populations
and their purchasing power. This has created a surge in demand for halal cosmetics.
Increasing demand has also compelled market players to engage in new product
development.
Currently, consumers are exhibiting growing interest in halal cosmetics
and personal care. This is primarily due to the increasing consumer awareness
about the importance of personal hygiene and improving lifestyles as a result
of increasing disposable income. Halal cosmetics being different from
conventional cosmetics are gaining popularity, as these cosmetics do not
contain alcohol, porcine-by products and their derivatives. Basically, they do
not contain contents or ingredients that are against Islamic beliefs.
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Halal cosmetics are expected to
be produced, packaged, stored, and distributed as per Islamic teachings.
Moreover, these products are considered to be safe, clean, and high quality.
The significant growth in Muslim populations across the globe is expected to
offer immense opportunities to personal care and halal cosmetics industry. In
addition, the rapidly accelerating economic power of Islamic countries is
anticipated to largely influence them to spend additional money on beauty and
personal products.
The growing issues over the environmental and health hazards are
also responsible for such as significant impact on the cosmetic industry. Some
of the health hazards such as distortion, breast cancer, and abnormalities
pertaining to genital are usually blamed to occur as a result of excessive
usage of cosmetics products comprising nano-particle ingredients. The
increasing in number of such events has promoted consumer awareness about the
substance of beauty products, thus, driving demands for halal personal care and
cosmetic goods.
Low level of awareness about the presence of halal cosmetic brands is
acting as a challenge to the industry. As a consequence, the industry is not
experiencing heavy demands as expected out of its potentials. Moreover, halal
issues within the sector are considered quiet minor among consumers in
comparison to food consumption. Thus, this requires manufacturers to improve
their marketing strategies and production facilities. Furthermore, it becomes
difficult to understand consumer perspective about halal cosmetic brands.
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Asia Pacific is anticipated to
dominate the global halal cosmetics market, owing to the presence of emerging
nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan.
These nations have significant population that follow Islamic beliefs.
The list of key companies that are operating in the market include Ivy
Beauty Corporation Sdn Bhd, Mena Cosmetics, MMA Bio Lab Sdn Bhd, The Halal
Cosmetics Company, Talent Cosmetic Co., Ltd., PHB Ethical Beauty, Saaf
SkinCare, One Pure, Sampure Minerals, Amara Cosmetics, Wardah Cosmetics, Inika,
Clara International, Prolab, and IBA Halal Care. These players are observed
engaging in activities aimed at the development of new products.
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