Markntel Advisors present the latest study on India Halal Cosmetics Market, covering extensive, in-depth analysis of the ongoing trends, opportunities/ high growth areas, and market drivers, which could help stakeholders to devise and align market strategies according to the future market dynamics. Based on elite players, present, past, and futuristic data will offer a profitable guide for all readers and competitors. The overall analysis covers an overview of the industry policies, market fluctuations, and the cost structure of the products available.
According to India Halal Cosmetics Market Research Report: Forecast (2023-2028), “The market is projected to grow at a CAGR of 30.25% during the forecasting period and attributed to the growing development of the cosmetics market in India. Besides, the market is likely to register exponential growth with the rate of the soaring Islamic population combined with rising disposable income, increasing spending habits, and the spreading popularity of cosmetic products. Furthermore, rising affordability, cooperative halal trade and regulations, and greater investor returns will likely drive the market expansion forward.”
Increasing Disposable Income And Raising Living Standards
India is one of the developing nations with one of the fastest GDP growth rates, a booming working population, and rising disposable incomes, all of which are driving up consumer expenditure on leading healthier lifestyles. As a result, it has expanded the market for halal cosmetic products in the nation, which amply demonstrates the existence of lucrative opportunities for the top businesses active in the India Halal Cosmetics Market over the next years.
Our research covers competitors:
- Company Profile
- Main Business Information
- SWOT Analysis
- Sales, Revenue, Price, and Gross Margin
- Market Share
The major players, among whom the India Halal Cosmetics Market fluctuates, 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.
Skin Care Accounts For A Higher Share of the Industry
Skin Care accounts for a higher share of the India Halal Cosmetics Market. It is mostly attributable to the nation’s rapidly growing population of working women and the increasing penetration of male grooming products. The majority of cosmetic products contain dangerous chemicals and additives that can irritate the skin and have long-term detrimental effects on health.
As a result, halal cosmetics are becoming more popular as a viable substitute for conventional cosmetics. Due to their established benefits and lack of side effects, a major portion of customers consider that skincare products are necessary for leading a decent life. As a result, they spend a significant amount of money on halal-certified makeup and skincare products in order to maintain healthy, beautiful skin. In the personal care area, these factors are driving the market.
Online Sales Channel Accounts for The Largest Market Share
The distinct diversification and articulations of the industry are classified into further segments so the stakeholder can obtain detailed information about factors affecting the market along with various factors affecting the elements which lead to fluctuations in the market. These factors include sales, environmental issues, production issues, demands, and developments affecting each segment which would further influence the market. Segment-wise, India Halal Cosmetics Market spreads across the following:
- By Type
- Color Cosmetics
- Personal Care
- Hair Care
- Skin Care
- Color Cosmetics
- By Distribution Channel
- Supermarket/ Hypermarket
- Specialty Stores
- Convenience Store
- Others (Pharmacy, etc.)
- By Gender
“Among the Distribution Channels, Online Sales captured the highest market share in the previous years and are anticipated to follow the same trend in the forecasting period, owing to the constant prevalence and growth of online sales channels and e-commerce in India. Moreover, existing brands are increasing their market presence by offering their products on multiple e-commerce platforms, such as Nyka, Flipkart, Snapdeal, Myntra, and Amazon, which has expanded their logistic operations to Tier 5 cities and villages in certain states and growing internet penetration & transformation, the market is likely to accelerate to new heights.”, further states the research report by Markntel Advisors.
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