To acquire or not to acquire – the great cosmetics halal certification debate
Despite its significant potential and growing interest from international beauty brands and local players, the Gulf Cooperation Council’s (GCC) halal cosmetics market remains underserved.
A new report has revealed global spending on cosmetics by Muslim consumers will hit $93 billion within three years, sustaining a four-year compound annual growth rate (CAGR) of 7.2%.
This followed an estimated worldwide turnover of $70 billion in 2021.
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