Report : Europe Halal Cosmetics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis– By Product Type (Skincare, Haircare, Makeup, and Others), Category (Men, Women, and Unisex), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 13.8% CAGR, the Europe Halal Cosmetic Market is speculated to be worth US$ 12,833.78 million by 2028, says Business Market Insights
According to Business Market Insights’ research, The Europe Halal Cosmetic Market was valued at US$ 5,892.38 million in 2022 and is expected to reach US$ 12,833.78 million by 2028, registering an annual growth rate of 13.8% from 2022 to 2028. Increasing consumer focus on religiously sensitive skincare products and lucrative growth in emerging countries the critical factors attributed to the market expansion.
The concept of Halal is becoming a global symbol for quality assurance and lifestyle choice for religiously sensitive consumers. At present, men and women especially in urban areas are showing increased interest and awareness towards Halal certified cosmetic products. This trend is expected to expand in semi urban and rural areas in the near future. This will provide additional incentive for cosmetic manufacturers to diversify their product portfolio and introduce halal cosmetic products range
On the contrary, challenges faced in marketing the halal cosmetic products hurdle the growth of the Europe Halal Cosmetic Market.
Based on product type, The Europe Halal Cosmetic Market is segmented into skincare, haircare, makeup, and others. The skincare segment held 40.15% market share in 2022, amassing US$ 2,366.01 million. It is projected to garner US$ 5,271.97 million by 2028 to expand at 14.3% CAGR during 2022–2028.
Based on category, The Europe Halal Cosmetic Market is segmented into men, women, and unisex. The women segment held 40.38% market share in 2022, amassing US$ 2,379.18 million. It is projected to garner US$ 5,303.59 million by 2028 to expand at 14.2% CAGR during 2022–2028.
Based on distribution channel, The Europe Halal Cosmetic Market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 39.41% market share in 2022, amassing US$ 2,322.12 million. It is projected to garner US$ 5,099.01 million by 2028 to expand at 14.0% CAGR during 2022–2028.
Based on country, The Europe Halal Cosmetic Market has been categorized into the Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Russia captured 42.56% market share in 2022. It was assessed at US$ 2,507.64 million in 2022 and is likely to hit US$ 5,680.23 million by 2028, exhibiting a CAGR of 14.6% during the forecast period.
Key players dominating The Europe Halal Cosmetic Market are Clara International Beauty Group, Inglot Cosmetics, OnePure LLC, PHB Ethical Beauty Ltd, and Sampure Minarals among others.