Halal Cosmetic Products Market 2021 Corporate Strategy Analysis | Analysis By Top Countries Data, Types, Applications | Forecast Till 2030

In a recent published report, Kenneth Research has updated the market report for Halal Cosmetic Products Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Halal Cosmetic Products Market products.

Download Sample of This Strategic Report-: https://www.kennethresearch.com/sample-request-10075367

Halal cosmetics are personal care products which are free from ingredients forbidden by the Islamic law. These cosmetics do not contain animal derived material such as blood from any animal, pork and pork products as well as alcoholic constituents in their manufacturing. Halal cosmetic products include hair shampoos, conditioners, bath and shower gels, cleansers, creams, lotions, talc and baby powders, toners, make up, perfumes, eau de colognes and oral care products. As the Islamic law only permits the use of halal cosmetic products, this religion segment holds the largest consumer base of halal cosmetic products across the globe.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Market Size & Forecast

The global halal cosmetic product market is anticipated to reach USD 53 billion by the end of 2023 witnessing a promising compound annual growth rate of 14.1% over the period of forecast i.e. 2016-2023. Middle East is anticipated to hold the largest consumer base owing to the dominance of Islamic culture. Absence of halal certification body in the region is anticipated to fuel the supply of halal cosmetic product in the region.

Europe halal cosmetic market is anticipated to grow at a high pace due to the dominance of well-established cosmetic manufacturers in the region such as Saint Laurent and L’Oreal. In 2009, European Commission banned animal testing for cosmetic ingredients and other products. This has forced the cosmetic manufacturers to increase the incorporation of plant based ingredients. This is likely to pave the demand for halal cosmetic products in the region.

Asia Pacific halal cosmetic product market is estimated to reach USD 2.9 billion by the end of 2023 witnessing a compound annual growth rate of 9.4% over the period of forecast, Asia Pacific market is expected to be remunerative region owing to the increasing Muslim consumer base with rising personal grooming needs and rising demand of vegan friendly cosmetics in the region.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Download Sample of This Strategic Report-: https://www.kennethresearch.com/sample-request-10075367

Research study states that 20% of the global Muslim population is concerned about halal issues with the products they are using. Growth of the market is mirrored by the consumer knowledge about the ingredient used and product awareness. Social media has raised the awareness of use of halal certified cosmetic products which is going to boost the demand for halal cosmetic products across the globe.

According to the halal industry development corporation, many well recognised and international brands are now considering to establish their market in halal industry by adding halal cosmetics and personal care products in their product line.

Key Players

Amara Cosmetics Inc
INIKA Cosmetics
Martha Tilaar Group
EL Asira
SAAF International
Samina Pure Makeup
Wardah Cosmetics
Zuii Organic
Clara International
OnePure

Growth Drivers and Challenges

Rising awareness about the percutaneous essence of conventional cosmetic products along with rising demand of vegan friendly cosmetics is anticipated to propel the growth of global halal cosmetic product market across the globe.

Rising Muslim population (nearly two billion) and increasing expenditure of Muslim consumers on food and lifestyle is anticipated to fuel the demand for halal cosmetic products. The global expenditure of Muslim consumers has increased by 10% in 2015, and is expected to reach USD 3.9 trillion by the end of 2023 witnessing a compound annual growth rate of 11% over the forecast period i.e. 2016-2023.

Download Sample of This Strategic Report-:https://www.kennethresearch.com/sample-request-10075367

Growing health concerns due to harmful effects of ingredient that are used in manufacturing of cosmetic product is increasing the demand for halal cosmetic products not only among the Muslim populations, globally consumers are now more inclined towards the adoption of cruelty free product.

Factor such as lack of authentication laws, liberal government regulations and challenges faced in positioning and marketing as well as short shelf life of the organic products are some factor restraining the market growth.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Download Sample of This Strategic Report-:
https://www.kennethresearch.com/sample-request-10075367

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides a significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.

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