Halal Cosmetics Market is expected to reach $54,164 million by 2022, from $20,247 million in 2015, registering a CAGR of 15.2% during the forecast period.
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The global halal cosmetics market is driven by rise in Muslim population globally and booming halal market, which has now extended its product base to meet the growing personal & beauty care needs of Muslim population. Halal certification enables Muslim population to identify the genuine products, thereby obeying the virtues of their religion, thereby fueling the growth of the global halal cosmetics market.
However, rules and regulations pertaining to the authenticity of a halal ingredient vary as per the countries, which is thereby expected to restrict the companies to penetrate in the halal cosmetics market. Cosmetic manufacturers thereby fail to obtain an authentic halal certification in Muslim-dominant countries.
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Thus, lack of global standardized set of halal-specific guidelines is a major factor that restrains growth of the halal cosmetics market.
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