Saudi Arabia Halal Cosmetics Market Expected to Reach US ~$22.87 Billion and CAGR 23.0% by 2030 – Polaris Market Research
The global Saudi Arabia Halal Cosmetics Market size is expected to reach USD 22.87 billion by 2030 according to a new study by Polaris Market Research.
The demand for the industry is rising owing to the increasing inclination of the Muslim population towards its usage along with the high quality and safety associated with the product. The demand for the industry is driven by the growing preference for strict adherence to the halal code coupled with the rising internet penetration in the country, leading to increased options and easy product availability.
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A lot of initiatives have been adopted by several Muslim countries to integrate the Saudi Arabian industry. Malay Chamber of Commerce Malaysia (MCCM) has made necessary efforts to build an advertising center in Dubai. This would facilitate the growth and development of the industry and pave opportunities for manufacturers to advertise their product portfolio in several parts across the globe including Saudi Arabia.
On the basis of product, the industry is categorized into makeup, skincare, hair care, and others. Skincare products are likely to witness growth in the near future owing to the fact that women in the country recognize these skincare products as a means to achieve religious adherence. The several advantages attributed to skincare products include animal welfare, no long-term side effect, lack of skin irritation, and many others.
The hair segment is also expected to witness a significant share in the near future since the development of advanced hair care products offers long-lasting fragrance and conditioning and also aids in the protection of hair volume.
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On the basis of distribution channels, the industry is further clustered into online and offline channels. Online channel is expected to witness significant growth. Easy comparison, extensive product portfolio, and ease of convenience are some of the factors responsible for the growth of the online segment. The offline division is expected to drive the industry growth owing to the reluctance to try online channels due to some factors such as the crisis of credibility and trust and the well-established network of shopping malls across the country.
Major participants such as PHB Ethical Beauty, MMA Bio Lab Sdn Bhd, Clara International, Martha Tilaar Group, Talent Cosmetic Co., Ltd, Intercosmetic Asia Pacific Sdn Bhd, Sampure Minerals, Amara Cosmetics, Inc., INIKA, Saaf Skincare, Prolab Cosmetics, IBA Halal Care, NUTRALab, Muslimah Manufacturing Sdn. Bhd., Zelcos, and Nizona Corporation are the key players operating worldwide.
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Polaris Market Research has segmented the Saudi Arabia halal cosmetics market on the basis of product, and distribution channel:
Saudi Arabia Halal Cosmetics, Product Outlook (Revenue, USD Billion, 2018 – 2030)
- Skin Care
- Hair Care
- Make-up & Color Cosmetics
Saudi Arabia Halal Cosmetics, Distribution Channel Outlook (Revenue, USD Billion, 2018 – 2030)
Browse detailed report with in-depth TOC – Saudi Arabia Halal Cosmetics Market
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