The Saudi Arabian halal cosmetics market is projected to grow at a CAGR of 15 percent between 2015 and 2020, according to a new report published by TechSci Research.
The primary growth driver is religious preference, but growing concern over harmful ingredients is boosting demand among the non-Muslim population too.
Fragrance and skin care are the dominant sectors, followed by color cosmetics, body care, hair care and baby care. The high proportion of females in the kingdom’s western, central and northern areas gives them an edge over southern or eastern regions.
“Saudi Arabia is an attractive market for halal cosmetics due to the presence of affluent customer base in the kingdom. In order to capture the growing demand for halal cosmetics in Saudi Arabia, major global players have expanded their presence in the kingdom through 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,” said Karan Chechi, Research Director with TechSci Research.
Key players include Inika, One Pure, LLC, FX Cosmetics, Clara International Beauty Group and Samina Pure Minerals Makeup.