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Description
The global halal cosmetics market is expected to grow at a CAGR of 9.3% during the forecast period 2022 to 2028. Halal means permissible and lawful. Halal industry is expected to create new avenues for the market players due to increased awareness in the Muslim community. Most traditional marketplaces are being saturated around the world, but the Muslim community is generating several fast-growing consumer items and segments all over the world. The halal cosmetics products market is one of the most promising areas, with the greatest growth in recent years. This market has a significant growth opportunity for personal care and cosmetics companies all around the world. Consumer demand for natural and organic colour goods is increasing as people become more aware of the detrimental consequences of certain substances like carbon black and carcinogens, which are extensively used in cosmetics. The purchases are made based on efficacy, as well as clinical qualities and longer-lasting protection. The market’s demand for natural components has prompted a number of companies to create goods that include nature-inspired ingredients, such as halal-certified, plant-inspired, and premium botanical ingredients with multi-functional qualities.The demand for cosmetics in Asia Pacific is quickly rising, with India and China being two of the world’s largest emerging markets. The Muslim community of India accounts for about 15% of the population, making halal cosmetics a profitable growth opportunity. In this sense, Iba Halal Care is the first manufacturer of Halal-certified cosmetics. Furthermore, in compared to its Southeast Asian neighbours, Malaysia is one of the largest export markets for halal products.
