Religious preference for halal products in Saudi Arabia is the primary driver of the halal cosmetics market in the kingdom, which is projected to grow at a CAGR (compounded annual growth rate) of over 15 per cent between 2015 and 2020, a report said.
Additionally, growing health concerns from the harmful effects of cosmetics manufactured using dead animals is boosting demand for halal cosmetics among the non-Muslim population as well, explained the report titled “Saudi Arabia Halal Cosmetics Market Forecast & Opportunities, 2020” from TechSci Research, a global market research and consulting company.
Inika, One Pure, LLC, FX Cosmetics, Clara International Beauty Group and Samina Pure Minerals Makeup Ltd are a few of the leading players operating in Saudi Arabia’s halal cosmetics market, the report said.
According to TechSci Research analysis, fragrances and skincare products accounted for a lion’s share in Saudi Arabia halal cosmetics market in 2014.
Colour cosmetics, and other body care, haircare and baby care products are other major segments. The kingdom’s Western, Central and Northern regions dominate the halal cosmetics market owing to high female populations there.
“Saudi Arabia is an attractive market for halal cosmetics due to the presence of an affluent customer base in the kingdom,” said Karan Chechi, research director with TechSci Research.
“In order to capture the growing demand for halal cosmetics in Saudi Arabia, major global players have expanded their presence in the kingdom through the online marketing and sales of products. Increasing accessibility to high quality halal products is expected to further boost consumption of halal cosmetics in the kingdom over the next five years.”
According to TechSci Research report, increasing accessibility through online websites and rising awareness amongst the youth are expected to steer the market for halal cosmetics in Saudi Arabia.
Halal cosmetics are free from animal blood, pork and pork products as well as from any alcoholic content, the report noted.