Market Overview
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.
According to the MarkNtel Advisors’ research report, “India Halal Cosmetics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 30.25% during 2021-26. India halal cosmetics market is in its introductory phase. The market started flourishing in India in early 2011, with several small operators registering themselves as halal cosmetic providers. With the rate at which the Islamic population has been soaring in India over the past couple of decades, halal cosmetics are likely to register exponential growth in the country. Greater religious affinity, rise in affordability, halal trade and regulations, and greater investor returns have been acting as the major driving factors driving the growth of the Halal Cosmetics Market in India.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR(2021-26) | 30.25% |
| Key Companies Profiled | 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 |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The market size of halal cosmetics significantly declined in the previous year amidst the Covid-19 pandemic, which also affected the market demand for halal products, such as lipsticks, body creams, fragrances, etc., due to reduced mobility. The pandemic also changed consumer preferences and created opportunities for different cosmetics product lines, such as eye cosmetics, sanitizers, face creams, hand creams, etc. Thus, the suppliers got tremendous opportunities to expand their product line.
Market Segmentation
Personal Care Segment Grabbed the Lion’s Share
Based on the Type, the market bifurcates into Color Cosmetics and Personal Care. The Personal Care segment acquired the largest share in the India Halal Cosmetics Market in the previous years. This segment further categorizes into skincare, haircare, and fragrances. The market share for skincare has increased in recent years. It is mainly due to the rising disposable income of the consumers, changing lifestyle, increasing pollution. The increasing working women population and growing demand for men's cosmetic products in the personal care segment are likely to accentuate the overall market growth, cites MarkNtel Advisors in their research report, “India Halal Cosmetics Market Analysis, 2021.”
Online Sales Channel Accounted for the Largest Market Share
Based on the Distribution Channel, the market classifies into Online, Supermarket/ Hypermarket, Specialty Stores, and Convenience Stores. Of these, online sales captured the highest market share in the previous few years. The surge in the market share of e-commerce platforms in India has also increased the market size of halal cosmetics.
Moreover, existing brands are increasing their market presence by offering their products on e-commerce platforms, such as Nykaa, Flipkart, Snapdeal, Myntra, and Amazon, which has expanded their logistics operations to Tier 5 cities and villages in certain states. Thus, the growing online market penetration in India would surge the overall market size of halal cosmetics in the forecast period.
Market Driver
Rising Discretionary Spending Due to Increasing Disposable Income
India is one of the emerging economies with fast-growing GDP rates between 2010 and 2020. According to the World Bank’s data, the nominal GDP in India grew at a rate of 6.45% between 2010 and 2020. The increasing GDP and the thriving working-class population in India present a large pool of potential buyers for halal cosmetic products. The disposable income has also increased in India between 2016 and 2019. The income level and the purchasing power of an average person among the Indian population are on the verge of increase, thereby presenting a lucrative opportunity for the growth of the Halal Cosmetics Market in the country.
Competitive Landscape
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.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The India Halal Cosmetics Market is forecast to grow at a CAGR of 30.25% during 2021-26.
A. 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 are a few leading players in the India Halal Cosmetics Market.
A. Personal Care Segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. Greater religious affinity, rise in affordability, halal trade and regulations, and greater investor returns are the primary factors driving the growth of India Halal Cosmetics Market.
A. The market size of halal cosmetics declined in 2020 amidst of Coronavirus Pandemic that also affected the market demand for halal products such as lipsticks, body creams, fragrances, etc., due to reduced mobility.
