Research and Markets has a Global Halal Cosmetics and Personal Care Market 2014-2018 report which forecasts this market to grow at a CAGR of 13% over the period 2013-2018.
One of the key factors contributing to market growth is the increase in the Muslim population, but the lack of halal certification by an authentic body could pose a challenge, said analysts. The major consumers of the products are in the Asia Pacific and Middle East-Africa regions, as these are the densely-populated Muslim regions.
Key vendors dominating this space are Amara Cosmetics, IMED Lab, INIKA Cosmetics, and Martha Tilaar Group. Other vendors mentioned in the report are EL Asira, Muslimah Manufacturing, SAAF International, Samina Pure Makeup, Shiffa Dubai skin care, Wardah Cosmetics, and Zuii Organic.
Commenting on the report, an analyst from the team said: The rapid growth in non-Muslim countries offers huge potential for the global halal cosmetics and personal care market. Though halal cosmetics witness huge demand in regions populated by Muslims, a significant contribution is being witnessed from the non-Muslim economies.
"Currently, halal cosmetics and personal care products are widely accepted by other communities as they are considered safe, of high quality, and to have been prepared using hygienic procedures. Moreover, the integrity of the cosmetics is maintained during the production process. Hence, there is huge potential for the global market to grow during the forecast period because of the increased acceptance of and demand for the products in the developed non-Muslim countries."