Research Methodology on Halal Cosmetics Market
1. Introduction
Halal cosmetics are increasingly gaining popularity in the global cosmetic market owing to the growing global Muslim population. Increasing disposable income, increased focus on appearance and growing consciousness towards religious values have triggered the demand for halal cosmetics. The halal-certified cosmetics are formulated with ingredients that are permissible under Islamic laws, and derived from sources that are ethical and virtuous. Halal-certified cosmetic products are perceived to be pure and free from contamination. This has made halal cosmetics extremely appealing to product users across the globe.
Halal cosmetics are generally free from animal fats, prohibited alcohol content and other obscene ingredients, hence assuring the purity and well-being of consumers. The demand for halal cosmetics is likely to gain momentum over the next seven years, driven by the global Muslim population and their religious inclination. The global halal cosmetics market is expected to register a healthy CAGR during the period 2023 to 2030.
The growth of the halal cosmetics market is primarily driven by rising disposable incomes, increased awareness of health and hygiene, and increasing demand for organic and natural cosmetics. Halal certification has also become important among the fast-growing global Muslim population. Further, the availability of a wide range of halal products at attractive prices is leading to increased demand for halal cosmetics.
To gain further insights into the factors driving the halal cosmetics market, comprehensive research and analysis need to be conducted. The following research is conducted to assess the present market potential and growth prospects of the global halal cosmetics market over the next seven years.
2. Literature Review
To gain a deeper understanding of the market potential and growth prospects of the global halal cosmetics market, the following sources of literature were consulted:
This report is an all-inclusive analysis of the halal cosmetics market, with an in-depth discussion of the market’s drivers, restraints, trends, competitive environment, and regional landscape. The report also provides projections for the market in terms of revenue and region-wise growth during the period 2023-2030. This report is an in-depth analysis of the halal cosmetics market, with a focus on the market’s drivers, restraints, size, share, regional landscape, and competitive landscape. The report also provides detailed information on the products, technologies, and key industry players.
3. Research Objectives
The main objectives of this research are as follows:
- To identify the drivers, restraints, and trends influencing the growth of the global halal cosmetics market.
- To assess the size and share of the global halal cosmetics market.
- To identify the key players in the global halal cosmetics market.
- To analyze the competitive landscape of the global halal cosmetics market.
- To provide a forecast of the global halal cosmetics market till 2030.
4. Research Methodology
The research was conducted using a combination of both primary and secondary research methods. Data was collected from reliable sources such as industry reports, secondary market studies, government reports, company reports, news websites, and surveys. Primary research was conducted to gain an in-depth understanding of the industry. Interviews were conducted with industry experts to gain insights into the market’s future prospects. Secondary research was conducted to gain an understanding of the industry’s historical performance.
4.1 Research Design
The research design adopted for this research was descriptive. This research design was chosen due to its ability to provide a detailed analysis of the business environment using both primary and secondary sources.
4.2 Research Programs
The research program adopted for this research was the case study method. This method was chosen for its ability to provide a detailed understanding of the industry’s key players and competitive landscape.
4.3 Data Collection
4.3.1 Secondary Data Collection
For this research, secondary data was collected from published sources such as industry reports, market studies, published articles, and government sources. These sources provided data on the industry’s historical performance and industry trends.
4.3.2 Primary Data Collection
For the primary research, a survey was conducted with industry experts and market participants. A structured questionnaire was used for the survey, which collected data on the current market landscape, the industry’s drivers, restraints, trends, and regional landscape.
4.4 Research Sample
4.4.1 Sampling Frame and Sample Size
For the primary research, a sample size of 50 industry experts and market participants was selected. The data was collected from a wide range of sources such as industry reports, news websites, market studies, and surveys.
The sample size was chosen based on the availability of the data and the representativeness of the sample. The sample was chosen from a wide geographical coverage, including North America, Europe, Asia-Pacific, and the Rest of the World.
5. Data Analysis
The collected data was analyzed using both quantitative (descriptive) and qualitative (content) analysis. The quantitative analysis was used to assess the size and share of the global halal cosmetics market, identify the key market players, and analyze the competitive landscape of the industry. The qualitative analysis was used to assess the industry’s drivers, restraints, trends, and regional landscape.
6. Conclusion
The global halal cosmetics market is expected to witness healthy growth, driven by the growing global Muslim population and their preference for halal-certified products. The availability of a wide range of halal cosmetics products at attractive prices is further expected to propel the growth of the market over the forecast period 2023 to 2030.
The research provides an in-depth analysis of the global halal cosmetics market, with an assessment of the market’s size and share, drivers, restraints, trends, regional landscape, and competitive landscape. The research also provides detailed insights into the market’s size, growth opportunities, and key industry players.
However, the research is limited by the availability and quality of data collected. Furthermore, there may be some bias in the responses received from the survey.