Acturial Data Science
Marketing & Advertising
Halal cosmetics are innovation to the cosmetic industry which comply with the concept of halal (permissible) materials in cosmetics. The trend of making halal-certified cosmetics has been among the top agendas of players in the cosmetics industry. Market Research Future (MRFR) perceives the global halal cosmetics market to have a noteworthy growth and advance at a CAGR of 13.40% over the forecast period which ends in 2023. The Global Halal Cosmetics Market was valued at USD 22.74 Bn in 2017 and is expected to surpass USD 52 Bn mark by the end of 2023.
With the surge in Muslim populace across the globe, the demand for halal cosmetics are on the upswing. The Muslim population generally adhere to religious guidelines and halal cosmetics cater to the needs of these consumers.
To capitalize on the massive popularity of halal cosmetics, various multi-national players are making cruelty-free or halal cosmetics to appeal to a wider range of consumers.
Surging awareness regarding animal welfare, social responsibility and environmentally-friendly products coupled with growing trend of veganism has been a major drive for the growth of the global halal cosmetics market. Animal testing for beauty products has been banned in various parts of the world and various public figures have been a critical influence for the market growth. Various celebrities are promoting the use of cruelty-free products which encourage consumers to opt for halal cosmetics.
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