fashion Featured Lifestyle NewsDecember 4, 2023

The Growth of Halal Beauty Amid the €400 Billion Global Beauty Industry Boom

According to the CEO of L’Oréal, the global beauty market is expected to reach a value of €400 billion by 2030 and is growing unstoppably. Analyzing how this massive business will grow will be crucial as it continues to change, especially in light of the rapidly expanding halal beauty market. Recent years have seen a notable rise in the halal beauty sector, mostly due to shifting consumer preferences and growing consciousness of ethical and religious issues. Let’s examine the prospects and ramifications for the Halal beauty business posed by the growing global beauty market.

Halal beauty, which follows Islamic law, emphasizes goods devoid of substances that are ‘haram,’ or prohibited, in Islam. These goods appeal to both Muslims and the increasing number of non-Muslim buyers who respect morally and environmentally responsible cosmetics. Products created strictly according to Halal standards, meaning components are obtained and processed in accordance with Islamic law, are available in the market for skincare, haircare, cosmetics, and perfumes.

Major Elements Influencing the Halal Beauty Industry:
Muslim Population Worldwide: It is estimated that by 2030, there will be 2.2 billion Muslims worldwide. The growing affluence and cosmopolitanism of Muslims is driving up demand for beauty goods with Halal certification.
Growing Consciousness: People all around the world are becoming more aware of the substances in their cosmetics and are looking for goods that don’t involve cruelty to animals or include dangerous chemicals. Halal cosmetics frequently reflect these ideals. Inclusivity: Beyond religious considerations, halal beauty products appeal to a wider consumer base due to their emphasis on ethical sourcing and ecological processes.

Effects of Halal Beauty on the Expanding Beauty Market: Increased business Share: The Halal beauty sector is well-positioned to take a bigger chunk of the increase in the beauty business as a whole. In addition to serving the expanding Muslim community, it will draw in non-Muslim shoppers looking for morally and environmentally responsible substitutes. Research and Innovation: Innovation in Halal beauty products will be fueled by the growing global beauty industry. Businesses will spend money on R&D to produce competitive products that will lead to higher-quality Halal cosmetics. Market Expansion: As the demand for Halal beauty increases, new brands may appear on the scene, and established cosmetics manufacturers may decide to add Halal-certified products to their existing product lines. The global availability and variety of Halal cosmetic products will increase as a result of this growth.

A bright future for the Halal beauty sector appears to be ahead, with the global beauty market expected to reach €400 billion by 2030. Halal beauty is poised for success because to the burgeoning Muslim population, rising awareness of moral and environmentally responsible behavior, and greater diversity. Businesses in the Halal beauty market need to keep up their innovative work, uphold strict certification requirements, and concentrate on informing customers about the benefits of Halal beauty products if they want to fully capitalize on this boom. The halal beauty sector can comfortably ride the wave of the global beauty market’s ascension as people become more aware of what they put on their skin.