Halal Cosmetic Market
Global Halal Cosmetic Market
The GMI Research report presents that the Halal Cosmetic Market will encounter a robust growth over the forecast period. This is because of the ongoing technological modernisations and mounting energy consumption.
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Halal Cosmetic Market Dynamics
The major force stimulating the growth of the global Halal Cosmetic Market includes the accelerating Islamic population willing to disburse superior prices for halal-certified beauty items. Further, the increasing knowledge regarding the application of cosmetic items is another factor that is accelerating the Halal Cosmetics Market Size. Muslim population accounts for the substantial part of the worldwide population, thus the cosmetic market is focussing on establishing halal-certified products. Additionally, the accelerating urban population and improving living standards are other forces that are complementing the market demand. Apart from the national market, India is a centre of exports for halal products, especially from Saudi Arabia, UAE, and the Malaysia.
The rising cases of health issues such as breast cancer, as a result of cosmetics has raised the agitation towards ingredients . Thus, the major players in the market are emphasising on initiating small packaging at an economical price to evade one-time investment. Further, the surging inclination of Muslim population to link their interest in makeup with Islamic faithfulness is another force responsible for the market growth. However, the inflated cost of these cosmetics and the insufficient guidelines for halal authorisation are anticipated to restrain the Halal Cosmetic Market opportunities.
Voltage Segment Drivers
Based on the product, the skincare segment is anticipated to dominate the market in the next six years. The increasing awareness related to the numerous remarkable advantages offered by the skincare products is a major factor that is responsible for the growth of the segment. Most of the cosmetic product contains ingredients that cause skin irritation and may have long-term side effects on health. This factor is encouraging individuals to opt for halal skincare products in order to avoid health and skin-related diseases. The growing disposable income, along with the adoption of modern lifestyle, is further boosting the growth of the segment in the market.
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