Saudi Arabia halal cosmetics market forecasts put CAGR at over 15% through to 2020

Research and Markets has added TechSci Research's Saudi Arabia Halal Cosmetics Market Forecast and Opportunities, 2020 report to their offering. 

The halal cosmetics market in Saudi Arabia is projected to grow at a CAGR of over 15% from 2015 to 2020 due to growing accessibility, rising consumer awareness regarding the benefits of using halal cosmetics, coupled with increasing willingness to pay more for high-quality halal cosmetics. In 2014, fragrances and skincare products accounted for a majority share in the country's halal cosmetics market.

Religious preference for halal products in Saudi Arabia is another factor driving demand. In addition, growing health concerns due to harmful effects of ingredients used in manufacturing cosmetics is increasing demand for halal cosmetics, not only among Muslims but also non-Muslim population in the country.

Halal cosmetics are skin and body care products which are free from materials forbidden by the Islamic law, such as blood, pork and pork products as well as alcoholic constituents. The increasing preference for halal cosmetics is increasing their importance in the business strategy of local as well as international players.

Key players operating in KSA include Inika, One Pure, FX Cosmetics, Clara International Beauty Group and Samina Pure Minerals Makeup. Other companies mentioned include Amara Halal Cosmetics, Miracle Halal Mineralz, Saaf Skincare, The Halal Cosmetics Company and Wardah Cosmetics.

Changing lifestyles and growing disposable income boost ready-to-eat market in Indonesia

Rising employment opportunities, economic growth and general lifestyle changes are all driving demand for ready-to-eat food products in Indonesia. TechSci Research, a research-based global management consulting firm, projects that demand will continue to increase. 

In Indonesia Ready-to-eat Food Market Forecast & Opportunities, 2019, the country's ready-to-eat food market is projected to grow at a CAGR of more than 7% during from 2013 to 2014. The company points out that the country has a large base of young consumers which now form the majority of the country's workforce. These consumers have little time for traditional cooking, creating significant demand for convenience food products, which can be cooked easily and quickly. Rising per capita disposable income, especially in the middle income group, is also driving significant growth in the Indonesian ready-to-eat food market. 

As Indonesia has the largest Muslim population across the globe, food suppliers have to secure halal certification from the concerned authorities to ensure proper food quality standards in accordance to Islamic regulations. The process of certification is very stringent, the research firm notes. TechSci Research also notes that Indonesian consumers are highly price-sensitive, with brand preference changing very quickly with small changes in price. 

Major players in Indonesia's ready-to-eat food market include Charoen Pokphand Indonesia, Tee Yih Jia Group and Sekar Bumi Indonesia.

"Retail chains are the key contributors in increasing the awareness level among consumers about ready-to-eat products. Significant presence of large retail formats in regions like Java is contributing to the demand for ready-to-eat food products in Indonesia. However, such chains are predominantly restricted to urban centres within the country. 

"To overcome this issue, many retail giants have voiced plans to expand their distribution network to other regions over the coming years, especially in the eastern region. These efforts are expected to add to the awareness level of consumers in other regions as well, thereby driving growth in the country's ready-to-eat food market over the next five years," said Karan Chechi, Research Director, TechSci Research.