Halal cosmetic products are beauty products that do not contain animal-derived ingredients and alcohol, as it is considered impure according to Islamic law. Hence, these beauty products are well-referred to as Cruelty-Free products.
Delta, BC -- (SBWIRE) -- 06/01/2021 -- According to the MarkNtel Advisors' research report, "India Halal Cosmetics Market Analysis, 2021," the market is likely to grow at a CAGR of 30.25% during 2021-26 due to the mounting number of environmental-conscious women in the country. In addition to this, the increasing Islamic populace in the region, rising awareness regarding the benefit of halal cosmetics due to the absence of chemicals are other crucial factors backing the market growth.
Besides, snowballing internet penetration has boosted the growth of online retailing in the region, thereby providing a lucrative opportunity for Halal cosmetics vendors to sell their products via online platforms, to grow their revenues & profitability extensively. Further, as halal cosmetics are generally chemical-free, therefore, adoption of halal cosmetic products by the non-Muslim populace is significantly increasing, thereby proliferating the market growth during the forecast period.
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Key questions answered in the study
1. What are the current and future trends in the India Halal Cosmetics market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the India Halal Cosmetics market?
5. What is the customer orientation, purchase behavior, and expectations from the India Halal Cosmetics market service providers across various regions?
Supermarket/ Hypermarket Segment to Grow Significantly
Based on the Distribution Channel, the market segments into Online, Supermarket/ Hypermarket, Specialty Stores, and Convenience Stores. Among these, the Supermarket/ Hypermarket segment is likely to grow substantially during the forecast period. The most common cosmetics are easily available in supermarkets in an affordable price range. Moreover, multinational companies in India such as Unilever, P&G are evaluating the introduction of a range of halal cosmetics products in India. These companies are planning to leverage their extensive distribution & economies of scale to replicate the success in halal cosmetics also.
"India Halal Cosmetics Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for halal cosmetics providers across the region. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Male Segment Exhibits Fastest Growth
Based on Gender, the market bifurcates into Male and Female. The Male segment is likely to grow significantly in the India Halal Cosmetics market during the forecast period. This could be because most brands operating in the male section of the market are launching new product ranges, such as face wash, face scrub, beard oil, etc., thereby augmenting the market growth of halal cosmetics. Therefore, the male segment is likely to provide a profitable opportunity for the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "India Halal Cosmetics Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the India Halal Cosmetics Market are MMA Bio Lab Sdn Bhd, Clara International, Inika Cosmetics, Wardah Cosmetics, Martha Tilaar Group, Ivy Beauty Corporation Sdn Bhd, Wipro Unza, Zahara, and SO.LEK Cosmetics.
Market Segmentation:
1. By Type (Color Cosmetics [Face, Eyes, Lips, Nails], Personal Care [Hair Care, Skin Care, Fragrances])
2. By Distribution Channel (Online, Supermarket/ Hypermarket, Specialty Stores, Convenience Store, Others (Pharmacy, etc.))
3. By Gender (Male, Female)
4. By Region (North, East, West, South)
5. By Company (MMA Bio Lab Sdn Bhd, Clara International, Inika Cosmetics, Wardah Cosmetics, Martha Tilaar Group, Ivy Beauty Corporation Sdn Bhd, Wipro Unza, Zahara, SO.LEK Cosmetics.)
About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.
We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.
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