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Annual growth rate nearly 13%, says analyst.
June 14, 2020
By: Happi Staff
A rapidly growing Muslim population is creating greater demand for Halal-certified cosmetics. According to a new study by Prophecy Market Insights (PMI), Halal cosmetics sales will increase at a compound annual growth rate of 12.9% through 2028 to top $86 billion by 2029. Countries that should benefit from the surge are those with existing large Muslim populations, including India, Malaysia, Bangladesh, Pakistan and Indonesia, said PMI, which notes that the prominent players operating in the global halal cosmetics market includes Amara Cosmetics Inc., Halal Beauty Inc., SAAF International Ltd, Sampure Minerals, Inika Cosmetics, Martha Tilaar Group, One Pure International Group Ltd., Ivy Beauty Corp., MMA Biolab, The Halal Cosmetics Company, Inika, and Talent Cosmetics Co. Ltd.
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