Halal Cosmetics Market On Track To Achieve USD 113.05 Billion Value By 2032 With A 12.1% CAGR

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Halal Cosmetics Market

The rising global focus on cruelty-free and sustainable products is one of the major factors driving the demand for halal cosmetics.

online stores have improved the accessibility for halal products by making them available to consumers located in regions where physical stores might not have a wide range of products.” - Polaris market ResearchNEW YORK CITY, NY, UNITED STATES, September 20, 2024 /EINPresswire / -- Our latest analysis of the halal cosmetics market has been done using advanced techniques and research methodologies to provide an accurate and reliable market analysis.

The market for halal cosmetics is poised to witness rapid growth, according to the latest research report by Polaris Market Research. The halal cosmetics market size, which was valued at USD 40.51 billion in 2023, is anticipated to reach USD 113.05 billion by 2032. The market is projected to exhibit a CAGR of 12.1% from 2024 to 2032.

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What are Halal Cosmetics?

Halal cosmetics are beauty products made with ingredients that are permitted under the Islamic Shariah law. Halal is an Arabic word that means“lawful” or“permissible.” Halal cosmetics are made with ingredients that don't include blood, human body parts, predatory animals, insects, reptiles, and alcohol. Halal cosmetics may include animal-derived ingredients or products as long as they are permissible under the law.
Halal cosmetics are manufactured under strict hygienic and sanitary conditions. These products are usually identified by a halal logo on their labeling. Several Islamic organizations and halal certification bodies typically offer a list of halal-certified brands. The rising awareness among consumers, especially in regions with significant Muslim populations, about ingredients used in cosmetics has led to increased halal cosmetics market demand.

What are Key Report Highlights?
.The market for halal cosmetics is poised to grow to USD 113.05 billion by 2032, exhibiting a CAGR of 12.1% from 2024 to 2032.
.Rising disposable income in Muslim-majority regions is a key factor driving the growth of the market.
.The halal cosmetics market segmentation is primarily based on product, application type, distribution channel, and region.
.The study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Who are Market Key Players?

The top market players are making substantial investments in R&D to improve their product offerings. Also, they have adopted several strategic initiatives to improve their global presence.

The halal cosmetics market key players are:

.Clara International
.IBA Halal Care
.INGLOT Cosmetics
.Inika
.Ivy Beauty Corporation
.One Pure
.PHB Ethical Beauty
.SABA Personal Care
.Sampure Minerals

What's Propelling Market Forward?
.Increased Awareness: The growing awareness among consumers about the significance of halal-certified cosmetics is contributing to the halal cosmetics market growth. This increased awareness is due to more Muslim people seeking products that align with their religious beliefs.

.Growing Demand for Ethical Products: The increased consumer interest in ethical, clean, and cruelty-free beauty products is another factor fueling the market expansion. Halal cosmetics, which adhere to strict ethical guidelines, are becoming increasingly appealing to people beyond the Muslim community.

.Rising Disposable Income: The rising disposable income and increased purchasing power of the middle-class population in Muslim-majority regions such as the Middle East and Southeast Asia has resulted in increased demand for specialty products such as halal cosmetics.

Which Region Leads Market Growth?
.North America: North America accounted for the highest halal cosmetics market share in 2023. The region's growth is primarily fueled by its diverse consumer base and increased demand for halal-certified products. Besides, the presence of a robust regulatory framework further supports the market expansion in the region.

.Asia Pacific: Asia Pacific is anticipated to register a significant CAGR from 2024 to 2032. This can be attributed to the presence of a substantial Muslim population, rising consumer awareness, and increased demand for cosmetics that adhere to Islamic concepts.

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How Is Market Segmentation Done?
By Product Outlook:
.Personal Care
.Color Cosmetics
.Fragrance

By Application Outlook:
.Skin Care
.Hair Care
.Face Care

By Distribution Channel Outlook:
.Online
.Offline

By Regional Outlook:
.North America
oUS
oCanada

.Europe
oGermany
oFrance
oUK
oItaly
oSpain
oNetherlands
oRussia
oRest of Europe

.Asia Pacific
oChina
oJapan
oIndia
oMalaysia
oSouth Korea
oIndonesia
oAustralia
oVietnam
oRest of Asia Pacific

.Middle East & Africa
oSaudi Arabia
oUAE
oIsrael
oSouth Africa
oRest of the Middle East & Africa
.Latin America

oMexico
oBrazil
oArgentina
oRest of Latin America

Browse PMR's Halal Cosmetics Market Report Coverage from Different Publications:
The global halal cosmetics industry is expected to reach USD 113.05 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.1% during the forecast period (2024 - 2032).

FAQs:
What is the expected market size of the halal cosmetics market?
The market is projected to grow to USD 113.05 billion by 2032.

Which region contributes notably towards the market growth?
North America accounted for the largest market share in 2023.

Which product segment accounted for the largest market share in 2023?
The personal care products segment held the largest share of the halal cosmetics market.

Which distribution channel dominates the market?
The online segment dominates the market for halal cosmetics.

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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
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