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. The first halal cosmetics brand launched in India was in 2014. Moreover, the market is highly bankable as the margins of suppliers and manufacturers range between 100% to 150%. Additionally, the rising awareness regarding cosmetics products, which includes animal byproducts, and the desire to look good has significantly increased the demand for halal cosmetics products. Furthermore, the consumers in Tier 1 and 2 cities prefer to buy online beauty and grooming products such as lipsticks, body lotion, beard grooming, etc., due to the wide range of variety, price comparison, etc. However, high costs associated with these cosmetics are likely to hamper the growth of the Halal Cosmetics Market.
Key questions answered in the study
Female Segment Dominated the Market
Based on Gender, the market bifurcates into Male and Female. The female segment attained the highest market share in the India Halal Cosmetics market in the previous few years due to the wide range of women's makeup-related products available in the market. Moreover, makeup being a routine for women, and emerging innovative skincare & makeup products by halal cosmetics are increasing the market penetration of the female segment.
“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.
Color Cosmetic to Grow at a Sturdy Rate
Based on the Type, the market bifurcates into Color Cosmetics and Personal Care. The Color Cosmetic segment is likely to grow at a considerable rate in the India Halal Cosmetics Market. The Color cosmetics segment in halal cosmetics further bifurcates into the face, eyes, nose, and lips. The growing fashion industry influencing the young population and the variety of products available for different age groups fuels the growth of the color cosmetic segment.
Additionally, the increasing penetration of social media and the growing millennial & Generation Z population other than Muslim consumers also support the market growth. Hence, based on these aspects, the Color Cosmetic segment is likely to contribute to 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.