Market Trends of Halal Cosmetic Products Industry
This section covers the major market trends shaping the Halal Cosmetic Products Market according to our research experts:
Growing Muslim Population Boost the Demand for Halal Cosmetics
Halal cosmetics have witnessed significant adoption among Muslim consumers owing to the increased demand for personal grooming and trending beauty products that adhere to religious loyalties. The halal cosmetics market has expanded its product base to tap into the cosmetics market, owing to increased demand for halal cosmetic products worldwide. For instance, in October 2021, Mikyajy unveiled their new 100% halal color cosmetics for the Middle Eastern girl. These natural cosmetics are free of alcohol, gelatin, keratin, and collagen. They're also vegan and cruelty-free. The growth of the global halal cosmetics market has driven owing to the rise in purchasing power of the growing Muslim population. The desire of young Muslim women to associate their interest in fashion & makeup with Islamic loyalties in countries such as Saudi Arabia, Iran, United Arab Emirates, Malaysia, and Indonesia and consumers equally interested in fashion and makeup trends have fueled the consumption of halal cosmetics, which will spur the global halal cosmetics industry. These factors create lucrative opportunities for multinational players operating in the global halal cosmetics market.
Burgeoning Demand for Cosmetics From Middle-East Region
Demand for cosmetic products in the Middle East Region is increasing rapidly, with the United States Emirates and Saudi Arabia being one of the largest emerging markets globally. This region has a large Muslim population, thus giving halal cosmetic products a lucrative opportunity for growth. Furthermore, Saudi Arabia has one of the prominent markets for cosmetics and fragrance products in the Middle East. Consumers in the country tend to spend substantially on their appearance, supplementing cosmetics growth. The high percentage of the Muslim population in the country has resulted in a rise in demand for halal cosmetics and fragrances. Such factors have allowed global brands and online retailers to expand their offerings to capture the demand. Owing to the demand for halal-certified products in the region, Saudi Arabian PIF (Public Investment Fund) launched its new company named Halal Products Development Company in October 2022. The company aims to manufacture personal care and cosmetic products locally in Saudi Arabia and to export halal-certified products across the world.
