Cosmetic Halal Ingredients Market - Trends Forecast Till 2028
Cosmetic Halal Ingredients Market By Ingredient Type (Active Ingredients, Specialty Additives and Others), Application (Body and Skin Care, Makeup, Hair Care, Oral Care, Fragrance), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Published Date: May, 2020
Base Year Estimate: 2019
Report ID: D-CM-CHIM-08
Number of Pages: 277
Domain: Chemicals & Materials
Cosmetic Halal Ingredients Market – Trends Forecast Till 2028
The global cosmetic halal ingredients market is anticipated to reach USD 4.6 billion by 2020 growing at a CAGR of 8.7% during the forecasting period, 2020-2028. Noticeable increment in Islamic population base across the globe is keen to pay price for premium halal cosmetics. Increasing demand and awareness towards the usage of cosmetic products is likely to increase the demand for halal ingredients. Factors such as increased urbanization, growing standards of living are driving the market for cosmetic halal ingredients market.
The global cosmetic halal ingredients market is segmented into ingredient type, application, and geography.
The ingredient type segment is segmented into active ingredients, specialty additives, and others.
On the basis of product, the active ingredient segment is expected to dominate the market for cosmetic halal ingredients market during the forecast period 2020-2028
Application segment is segmented into Body and Skin Care, Makeup, Hair Care, Oral Care, Fragrance
Geographically, the global cosmetic halal ingredients market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions
Asia-Pacific region is the largest contributor to the cosmetic halal ingredients market in the forecast period 2020-2028.
Key players in the global cosmetic halal ingredients market are DSM, BASF SE, Symrise, Mibelle Group, Croda, Lonza, DowDupont among others.
The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:
- In 2019, BASF launched Hydrasensyl Glucan, an ultra-pure, multi-functional, and fast-acting beta-glucan
- In 2019, BASF launched a new Enzyme product line Lavergy for detergents and cleaners and are also for hair care application
- In 2018, the Personal Care & Aroma Ingredients business unit got certified as halal. The ingredients got approved by the Halal Food Council of Europe (HFCE), Brussels, which is recognized by the Indonesian Council of Ulama (Majelis Ulama Indonesia (MUI)), the Department of Islamic Development Malaysia (Jabatan Kemajuan Islam Malaysia (JAKIM)), the Islamic Food and Nutrition Council of America (IFANCA) and the Emirates Authority for Standardization and Metrology (ESMA)
- In 2018, Symrise got halal certification for more than 200 products. The halal certification has been applied to both hair and skincare
In addition to the market data for the cosmetic halal ingredients market. Delvens offers client-centric reports and is customized according to the company’s specific demand and requirements.
This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference—to identify and collect information useful for this study of the Cosmetic halal ingredients market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global cosmetic halal ingredients market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments.
The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the cosmetic halal ingredients market.
Primary Respondent breakdown is provided below:
Top-down and bottom approach were used to derive the market estimate and validate the total revenue of the cosmetic halal ingredients market. This approach has also been used to derive the market for segmentation and sub-segmentation.
Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Industry/Strategic Consultants