Colour cosmetics (cosmetics to add colour to the skin) accounted for 37.4% share of the halal cosmetics market in 2014. FMI estimates that this segment will witness a 10.3% CAGR during the forecast period. Lipcare and facecare collectively accounted for over 65% of the market share for colour cosmetics in 2014, with the remainder comprising eyecare and nailcare. FMI estimates the lipcare segment to grow at a 10.5% CAGR through to 2020, with a valuation of US$400.6 million that year.
FMI also revealed that skincare is the next-most lucrative segment after colour cosmetics, accounting for over 30% share of the market in 2014. FMI predicts that it will grow at a 10% CAGR by 2020.
FMI’s analysis further found that Southeast Asia is the most lucrative market for halal cosmetics in Asia Pacific. It was valued at US$863.7 million in 2014, and FMI estimates that it will expand at a 10.2% CAGR to be worth US$1.5 billion by 2020. On the other hand, the halal cosmetics market in South Asia was worth US$342.9 million in 2014. FMI predicts the halal cosmetics market in South Asia will see a CAGR of 9.9% through 2020, reaching a valuation of US$599.6 million by 2020.
Key players in the Asia Pacific halal cosmetics market include INIKA, Martha Tilaar, Wipro Unza, Clara International, the Brataco group of companies, Ivy Beauty Corporation, and Paragon Technology and Innovation.
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