Growth expected in halal cosmetics and personal care market

Technavio says the halal cosmetics and personal care market is poised to grow by US$28.34 billion from 2020-2024, progressing at a CAGR of over 7% during the forecast period. Year-over-year growth for 2020 is estimated at 6.7%.

Source: Technavio. The Halal Cosmetics and Personal Care Market 2020-2024 report forecasts 6.7% growth globally for 2020.

According to its halal cosmetics and personal care market report:

- Demand for halal personal care and grooming products for men are major trends driving the growth of the market.

- The Asia Pacific region will contribute 44% of the market share.

- The company advises market vendors to focus more on the fast-growing segments, while maintaining their positions in the slow-growing segments.

Vendors mentioned in the Halal Cosmetics and Personal Care Market 2020-2024 report include:

• Amara Halal Cosmetics
• Clara International Beauty Group
• Ivy Beauty
• PROLAB COSMETICS
• Martina Berto
• Paragon Technology and Innovation 
• Saaf Skincare 
• Talent Cosmetics Company
• Total Beauty Network
• Wipro Enterprises

However, Technavio said the market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Technavio is a global technology research and advisory company focusing on emerging market trends and actionable insights to help businesses identify market opportunities and develop effective strategies to optimise their market positions. Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.

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