Future Growth of the Halal Cosmetics Market

Monday, 22 July 2024, 10:24

The halal cosmetics market is projected to grow significantly, with an impressive compound annual growth rate (CAGR) of 15.2%. Personal care products constitute the largest segment, holding a substantial market share of approximately 37.4%. This growth is attributed to increasing consumer interest in halal-certified beauty products and the rising awareness of ethical beauty standards. With projections indicating the market exceeding $144.8 billion by 2031, stakeholders should closely monitor this sector for investment opportunities.
Einnews
Future Growth of the Halal Cosmetics Market

Market Overview

The halal cosmetics market is on the brink of a remarkable transformation. Fueled by a consumer shift towards ethically sourced and halal-certified products, this sector is experiencing rapid growth.

Key Market Segments

  • Personal Care Products: This category holds a dominant share of the market.
  • Market Share: Nearly 37.4% of total halal cosmetics sales originate from personal care items.

Projected Growth and Valuation

With a projected CAGR of 15.2%, the halal cosmetics market is set to exceed $144.8 billion by 2031. These figures highlight a growing demand and the potential for lucrative investment in this sector.

Conclusion

As the halal cosmetics market continues to expand, understanding market trends and consumer preferences will be essential for stakeholders aiming to penetrate this lucrative industry.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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