Market Overview
Halal, in other word meaning permissible includes products that does not include the usage alcohol and certain animal derived ingredients. Although these products remain a niche segment in the cosmetic industry, increasing acceptance of natural ingredients and growing demand from the Muslim population offers an attractive market opportunity for the halal cosmetic players. According to Pew Research Center, the global Muslim population is expected to reach 2.99 billion by 2060, representing 31% of the global population and making it one of the fastest growing segment in the cosmetic industry globally.

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Growing awareness and acceptance for halal products among consumers are significant to market growth. Manufacturers are increasingly focusing on obtaining and using halal certified labels on their products to gain consumer confidence. For instance, Cosmax Inc, obtained halal certification for its beauty products for its Indonesian market in 2016. Similarly, Amara Halal Cosmetics became the first North American cosmetic company to provide Halal certified cosmetics manufactured in the US while other cosmetic players opting for halal certified cosmetics such as Nails Inc in 2015, BCI Group and Safe ‘N’ Beautiful in 2014 are allowing more product options to the consumers.

Market Dynamics
Growing beauty and personal care industry in Muslim dominated regions such as Middle East, Africa stands to be one the key driving factor for Halal cosmetics market. According to Insights and reports, the global beauty and personal care market in the GCC market was valued at over US $9.5 billion in 2017 and is expected to grow at a CAGR of over 9% during the forecast period. Furthermore, growing demand from non-Muslim such as India, China, and Singapore are also creating new market opportunities for the manufacturers. For instance, in 2015, Iba Herbal Care were launched in India offering wide range of skin care and other beauty products that are halal certified.

In addition to this, increasing presence of halal cosmetics in beauty stores and manufacturers focusing more on introducing halal certified products are further driving the market growth. For instance, in 2017, Asda introduced a wide range of halal cosmetic products across its stores in the UK market to tap the growing halal market.

Segmentation Analysis
In terms of product segmentation, halal skin care products remained the leading market in terms of retail value sales in 2017 and is expected to remain the leading segment during the forecast period. Growing demand for natural and organic skin care products globally stands to be one of the key driving factor in the market. The demand is supported by the Muslim millennial population who are looking for quality products to maintain their beauty and appearance without hurting the religious sentiments. Additionally, growing demand for anti-ageing products is further creating demand for halal skin care products market. For instance, in 2015, Unilever owned Ponds’ introduced a new anti-ageing cream for the Arabia market.

In terms of distribution channel, specialty beauty stores witnessed majority of the sales in 2017 owing to wide availability of different brands at different price points. However, the online segment is expected to remain the fastest growing segment during the forecast period owing to easy accessibility and purchase of cosmetic products online. The increasing internet penetration globally and online promotional campaigns by manufacturers has furthermore created opportunities to increase customer base. For instance, US based Orly, partnered with MuslimGirl.com, one of the largest online portal for online for Muslim women to launch new line of halal nail polish in 2017.

Regional Outlook
In terms of regional segmentation, APAC stands to be the largest market in 2017 owing to considerable presence of Muslim population, growing disposable income, increasing women workforce population and increasing focus on beauty and grooming trend. In APAC, the cosmetic industry was valued at over US $100 billion and stands to be one of the fastest growing market globally. Furthermore, launch of new products is also helping the market to grow in this region. For instance, in Indonesia, Unilever introduced the Sunsilk Clean and Fresh in 2015 targeted for Muslim women population.

Other than this, Middle East stands to be another important market for halal cosmetics owing to increasing acceptance among and focus on beauty among the women in these countries. Countries such as Saudi Arabia and UAE stands to the major markets in the region. Furthermore, growing initiatives such as the establishment of The International Halal Accreditation Forum in the region and increasing promotional activities and manufacturers expanding into this region are further expected to drive demand. For instance, UK based The Halal Cosmetics Company, expanded its presence in the UAE market in 2016.

Competitive Landscape
The market for halal cosmetics remains highly competitive with several players emphasizing on product innovation, new launches, merger and acquisitions and geographic expansion to increase market share. For instance, in 2017, Unilever introduced a new line of body moisturizer, Pureline Hijab Fresh body moisturizer in Indonesia to target the women Muslim population and increase its market presence in the country.
Some of the key players operating in the halal cosmetics market include Amara Cosmetics, Halal Cosmetics Company, Unilever Plc, Shiseido Co.,Ltd, L'Oréal S.A Cosmax, IBA Halal Care and others.

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