Grand View Research has published a report on the halal cosmetics market in which it states that by 2025 the market is to be worth $52 billion.
The report explains that this growth trajectory is based on the awareness levels of the Muslim population regarding the ingredients used in cosmetic and personal care formulations and that they are willing to pay a premium price for cosmetics that keep with their ethical beliefs.
The report also states that…
- Asia Pacific was the dominant region and in 2015 accounted for nearly three-quarters of the overall revenue.
- Of the Asia Pacific region, Malaysia and Indonesia accounted for around 60% of its revenue with skin care and makeup being the most popular products.
- The hair care product segment is expected to grow at a CAGR of 12.3%
For more information regarding the growth of the halal cosmetic market please visit: www.grandviewresearch.com