Consumer demand for Halal-certified beauty products is growing, and the global Halal cosmetics market is projected to reach a staggering valuation of US$127.8 billion by 2033.
In recent years, as consumers become increasingly aware of the importance of eco-friendly living and the problems caused by non-Halal cosmetics, global demand for Halal-certified products has continued to grow. Since natural personal care and cosmetics are essential to a healthy lifestyle, the choice of Halal beauty products and cosmetics will also increase.
By the end of 2023, the global Halal cosmetics market is expected to be worth US$42.65 billion, and by 2033 it will increase to US$127.8 billion. Over this decade, consumer demand for Halal cosmetics will grow at a compound annual growth rate of 11.6%.
Global demand for Halal cosmetics continues to increase, especially in regions with large Muslim populations such as the UAE, Indonesia, Malaysia, Saudi Arabia and Turkey. As a result, the Halal cosmetics market has expanded its product line range, with more and more beauty products making a significant push into the cosmetics market.
As demand for safe and clearly labeled products continues to grow, the size of the Halal-certified cosmetics industry will also bring huge development potential for potential players in the coming years.
At the same time, as the Muslim population continues to grow, international companies such as L'Oreal, Unilever and P&G are expected to enter the Halal cosmetics field to meet the growing demand for Halal cosmetics. Three companies dominate the market: Iba Cosmetics, Ivy Beauty Corporation Sdn Bhd and Kao Corporation. To stay competitive, well-known companies have invested heavily in R&D and product innovation.
To reach customers and shoppers through an omnichannel distribution strategy, leading enterprises are focusing on market penetration while enhancing their market influence.
While intensifying efforts to improve their online and social media presence, the industry's major companies also focus on promotional activities. This is to make customers aware of the availability and advantages of obtaining Halal-certified cosmetics.