Iba Halal Care targets a turnover of INR1000 crore by 2019

India: The Halal cosmetic maker Iba Halal Care said that according to their market analysis the consumers are becoming increasingly conscious about their skin and hair care products and consequently the demand for the halal products are increasing. The Indian consumers who are showing interest in holistic vegetarianism are showing more interest towards the halal cosmetics.

The halal products are vegan products and also certified. Ingredients such as pork, animal remains, parabens, bismuth oxychloride and sodium benzoate are present in large quantities in non-halal cosmetic products and these are hazardous to the skin both in short and long term usage. Presently, there is no cosmetic brand that caters adequately to the ethical needs of the consumers in this segment.

 

The company in a bid to make presence in the INR 60,000 Crore personal care market has made a target to capture a market share of 12-15%. The company is witnessing a Year on Year growth of 400% and has around 80 products in its portfolio. The company made entry in southern India by opening its sixth franchisee store in Bengaluru. Iba Halal had started with two stores in Ahmedabad and later moved to Surat, Vadodara and Aurangabad. The company is also planning to add 10 more stores by the end of 2015-16 and also plans to spread its network by opening 3 kiosks in cities such as Cape Town, Durban and Johannesburg in South Africa where the company has found prominent demand for its products.

 

According to TechSci Research, the company would show high growth in the coming years as the demand for halal cosmetics have gone high and given the fact that only a few companies are operating in this segment there is a huge scope for growth in the halal cosmetic segment. Globally, consumers are benefiting from an ever increasing variety of halal cosmetics. Of late, there has been an influx of skin specific beautifying products for women which not only include creams, but also masks, moisturizers, serums, etc. Moreover, men are also using diverse cosmetic products including skin care, body care and hair care.

 

Global halal cosmetics market has been witnessing high levels of growth due to growing acceptance in various parts of the world. The major factors driving growth in global halal cosmetics market is increasing awareness regarding hazards of various ingredients present in non halal products.