Report : Middle East and Africa 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 14.3%CAGR, the Middle East & Africa Halal Cosmetic Market is speculated to be worth US$ 16,587.28 million by 2028, says Business Market Insights
According to Business Market Insights’ research, The Middle East & Africa Halal Cosmetic Market was valued at US$ 7,446.51 million in 2022 and is expected to reach US$ 16,587.28 million by 2028, registering an annual growth rate of 14.3% from 2022 to 2028. Increasing islamic population across the world and mandate in halal certification by islamic countries the critical factors attributed to the market expansion.
Demand for halal cosmetics is likely to grow in the coming years with the increase in Islamic population across the countries like Indonesia, Turkey, UAE, Saudi Arabia, Kuwait, Bahrain and others. About ~67% of the Halal products (comprising of food and beverage, cosmetics and personal care, Pharmaceutical and others) come under FMCG sector. This has created a huge opportunity for multinational FMCG players like L’Oreal, Unilever, P&G, Colgate-Palmolive and others to foray into the halal cosmetics market.
On the contrary,challenges faced in marketing the halal cosmetic products hurdles the growth of the Middle East & Africa Halal Cosmetic Market.
Based on product type, The Middle East & Africa Halal Cosmetic Market is segmented into skincare, haircare, makeup, and others. The skincare segment held 40.11% market share in 2022, amassing US$ 2,987.00 million. It is projected to garner US$ 6,793.92 million by 2028 to expand at 14.7% CAGR during 2022–2028.
Based on category, The Middle East & Africa Halal Cosmetic Market is segmented into men, women, and unisex. The women segment held 39.78% market share in 2022, amassing US$ 2,962.35million. It is projected to garner US$ 6,703.79 million by 2028 to expand at 14.6% CAGR during 2022–2028.
Based on distribution channel, The Middle East & Africa Halal Cosmetic Market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held 38.70% market share in 2022, amassing US$ 2,882.13 million. It is projected to garner US$ 6,500.19 million by 2028 to expand at 14.5% CAGR during 2022–2028.
Based on country, The Middle East & Africa Halal Cosmetic Market has been categorised into the South Africa,Saudi Arabia,UAE, and Rest of Middle East and Africa. Our regional analysis states that Rest of Middle East and Africa captured 54.22% market share in 2022. It was assessed at US$ 4,037.23 million in 2022 and is likely to hit US$ 8,953.81 million by 2028, exhibiting a CAGR of 14.2% during the forecast period.
Key players dominating The Middle East & Africa Halal Cosmetic Market are Clara International Beauty Group;Inglot Cosmetics,OnePure LLC;PHB Ethical Beauty Ltd; IVY Beauty Corporation;Sampure Minarals; and IBA Cosmetics among others.