Increased accessibility and rising awareness predicted to fuel trend in region
The market for Halal cosmetics in Saudi Arabia is predicted to take off over the next five years, primarily fuelled by the region’s growing Islamic population and demand for beauty products that adhere to Islam’s preferences and laws.
From 2015 to 2020, the Halal cosmetics market in Saudi Arabia is forecast to grow at a CAGR of 15%, according to a report by TechSci Research, Saudi Arabia Halal Cosmetics Market Forecast and Opportunities, 2020.
According to the report, key factors behind the market growth of this category include: rising consumer awareness of the benefits of halal products; increasing willingness to spend more on Halal products; and a thriving population of Muslim consumers.
However, It is not just Muslim consumers that are interested in halal products. More brands are beginning to seek halal certification as non-Muslim consumers are also buying halal beauty; Halal cosmetics are becoming an increasingly attractive proposition to consumers, being free from animal by-products and alcohol.
TechSci stated that in 2014, fragrances and skin are products accounted for the majority share in the Saudi Arabian Halal market. Key players in the region include: Inika, One Pure, LLC, FX Cosmetics, Clara International Beauty Group and Samina Pure Minerals Makeup.