Global Halal Cosmetics and Personal Care Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:17:03
The Global Halal Cosmetics and Personal Care market is forecast to grow at a CAGR of 13.43 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in the Muslim population. The Global Halal Cosmetics and Personal Care market has also been witnessing the growth potential in non-Muslim countries. However, the lack of halal certification by an authentic body could pose a challenge to the growth of this market.
Key vendors dominating this space are Amara Cosmetics Inc., IMED Lab Sdn Bhd, INIKA Cosmetics, and Martha Tilaar Group.
Other vendors mentioned in the report are EL Asira, Muslimah Manufacturing Sdn Bhd, SAAF International, Samina Pure Makeup, Shiffa Dubai skin care LLC, Wardah Cosmetics, and Zuii Organic.
The following companies represent the key players in Global Halal Cosmetics and Personal Care Market: Amara Cosmetics Inc., IMED Lab Sdn Bhd, INIKA Cosmetics, and Martha Tilaar Group.
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.
One of the major drivers in the market is the growing Muslim population. This increase in the Muslim population has increased the consumption of these products as Muslims are the potential and primary consumers of the products. The major consumers of these products are the APAC region and the MEA region as these are the densely-populated Muslim regions.
Further, the certification of products by authentic bodies is a major challenge hindering the growth of the market. Certification issues are generally noticed in products exported by local markets. These certification issues may lead to numerous consumers losing confidence in the products´ Halal status and stop purchasing them.
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