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The men’s start-ups are part of a growing scene. The market for halal beauty products – those made specifically in line with Islamic principles – is forecast to be worth $39bn in 2019, up from $23bn in 2015, according to Technavio, one of the few research groups to track the sector. Muslims spend $56bn on cosmetics and toiletries overall, which currently accounts for 7 per cent of global spending and is growing more quickly than the global average, according to a report released last month by Thomson Reuters and advisory firm Dinar Standard.
Yet while some companies have created entire halal ranges for Muslim women, with a halal stamp denoting a product’s provenance, their male counterparts have largely had to start their own ventures for their smaller niche.
November 09, 2016