SGIE Report 2023/24: Halal cosmetics surge in global beauty market
Halal cosmetics emerges as a dynamic sector within the global beauty market, driven by the growing demand for halal cosmetics.
As per the State of the Global Islamic Economy Report 2023/24, the halal cosmetics industry is experiencing significant growth. Muslim consumer spending on cosmetics reached $84 billion in 2022, a 14.3% increase from $74 billion in 2021.
India and Indonesia remain the top two largest markets for Muslim consumer spending on cosmetics, while Türkiye has moved up to third position.
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