The global halal cosmetics and personal care market is expected to post a CAGR of close to 14% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global halal cosmetics and personal care market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rising Muslim population worldwide. The main factors increasing the sales of halal cosmetics and personal care products is the increase in demand from the growing Muslim population and growing awareness of halal cosmetics and personal care products. Since Muslim consumers form the target consumers of halal products, the demand for halal cosmetics derives its impetus primarily from this population base. APAC is home to more than 55% of the Muslim population, thereby the region is experiencing a relatively higher demand for halal cosmetics and personal care products. EMEA led the market in 2017 with a market share of close to 52%, of the global halal cosmetics and personal care market.
This market research report on the global halal cosmetics and personal care market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emerging demand for halal personal care and grooming products among men as one of the key emerging trends in the global halal cosmetics and personal care market:
Global halal cosmetics and personal care market: Emerging demand for halal personal care and grooming products among men
The demand for personal care and grooming products is also high among men. Vendors in the market are trying to capitalize on this by introducing halal personal care and grooming products for men. Although many vendors manufacture halal cosmetics and personal care products for women, not many cater to men. Thus, manufacturers must focus on developing and offering halal personal care and grooming products for Muslim men. Skincare products, haircare products, and fragrances are the major categories under which halal products for men are segmented. Moreover, celebrity endorsements also encourage men to use personal care and grooming products. The awareness of the use of such products will propel the growth of the market in the future.
“Presently, millennial Muslim consumers are becoming conscious of their looks and appearance, propelling an interest in personal grooming among young men. This expands the consumer base of the market. Therefore, the interest in personal grooming is expected to spike the volume sales of halal cosmetics and personal care products during the forecast period,” says a senior analyst at Technavio.
Global halal cosmetics and personal care market: Segmentation analysis
This market research report segments the global halal cosmetics and personal care market by product (halal color cosmetics and other halal BPC products) and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2017, followed by APAC and the Americas respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth, while the other two regions will witness a decline in their market shares.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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