Tuesday, 22 September 2015

Halal Cosmetics Market Analysis, Size, Growth and Forecasts, 2015 To 2022

Global halal cosmetics market is expected to witness growth over the forecast period on account of increasing social awareness towards adverse impacts of ingredients such as animal fat and animal derived ingredients used in conventional cosmetics. The paradigm shift towards environmental protection, animal welfare and sustainability is likely to incline consumers towards halal cosmetics. Halal refers to permissibility for consumption and that the product has been manufactured according to the norms by Shari’ah principles, which are designed for safety, health and benefit to mankind. Halal personal care products envelop wide range of offerings which include shampoos, shower gels, conditioners, lotions, talc, oral care products and skin care creams. In vague of growing Islamic population and inclination of Islamic women towards awareness of cosmetics which keeps intact their faith and values in religion are likely to have a positive impact on the market for eco-ethical beauty products in near future. Easy availability of ingredients such as placenta, alcohol and collagen for the production of conventional cosmetic products is expected to pose a challenge in the near future.
The halal concept takes into account the critical aspects of production including sourcing of ingredients and manufacturing, packaging and storing in conformity with Shari’ah requirements. Market presence of eco-ethical cosmetic manufacturers such as The Body Shop gaining trust and loyalty is likely to pose high barriers for new entrants in the near future. The eco-ethical products are likely to gain momentum in light of willing of youths to pay premium price for organic and naturally derived earthly products suiting their lifestyle. The eco-ethical products are derived from natural based ingredients such as rosemary, grapefruit and almond extract. These products are distributed as customer’s reflection towards the choice of purity, cleanliness and safety thus significantly have a positive impact the market. Short shelf life of the organic products as compared to their synthetic counterparts is likely to affect the market viability.
Middle East is expected to be the potential halal cosmetics market in vague of dominance of Islamic culture thus affluent clientele presence. Absence of local certification body in Middle East is expected to be a constraining factor on supply side leading to fragmented market for halal cosmetics. Asia Pacific is expected to be lucrative market in light of growing Islamic population in Indonesia, India, Pakistan, Malaysia, and Bangladesh. Increasing social awareness towards transversal nature of conventional beauty products is expected to be a driver in the region. Availability of farmland for herbs and oilseeds in Malaysia is likely to be lucrative option for manufactures to set up their manufacturing facilities in close proximity. In 2013, Malaysian government issued 395 halal certificates for cosmetic companies. This supportive government policy in Malaysia is likely to fuel the demand in the near future.
Europe is likely to be a potential market due to dominant presence of cosmetic manufacturers such as L’Oreal, Chanel and Saint Laurent along with efficient brand partnerships.  Aforementioned manufacturers have increased their expenditure for the development of halal cosmetics products which is expected to pose a favorable impact on market. In 2009, European Commission banned animal testing for cosmetic ingredients and other products. This policy is expected to pave the way for cosmetic manufacturers to increase the incorporation of plant based ingredients and thus open new market avenues over the forecast period. The personal care market players in the U.S. and Canada are likely to venture into eco-ethical products to enhance their product lines and tap the growing Islamic population. In 2013, California based Amara Cosmetics ventured into halal certified beauty offerings with complete product range of products derived from plant extracts. This product offering is certified by the Islamic Food and Nutrition Council of America. The market is still fragmented within small manufacturers and lacks a certified body to regulate the incorporation of ingredients.
Key manufacturers include INIKA Cosmetics, Amara Cosmetics, Martha Tilaar Group, MMA Bio Lab, Wipro Unza, Clara International, Ivy Beauty Corporation and Brataco Group of Companies In September 2014; India based Ecotrail Personal Care Company launched halal cosmetics under the brand Iba Halal Care which is expected to tap new applications over the forecast period. The government of India announced Make In India campaign in September 2014, intended for promoting new investments in increasing manufacturing output of sectors including personal care. This regulatory move is expected to open new opportunities for manufacturers over the forecast period. 
Browse All Personal care & cosmetics Market Research Related Reports At:http://www.grandviewresearch.com/industry/personal-care-and-cosmetics

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