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| Source: Grand View Research. Regional share for halal cosmetics, 2015. |
The global halal cosmetics market is expected to reach US$52.02 billion by 2025, according to a new report by Grand View Research. The market once deemed to be niche, was
worth US$14 billion in 2014 and is expected to double by 2020. It is
expected to account for over 6% of the overall cosmetic industry in the
same year.
The large Islamic population and their lifestyles has pushed the mainstream beauty-care industry to consider product offerings that are halal-certified, especially since consumers are willing to pay a premium price for these goods.
The large Islamic population and their lifestyles has pushed the mainstream beauty-care industry to consider product offerings that are halal-certified, especially since consumers are willing to pay a premium price for these goods.
Countries such as Malaysia and Indonesia offer tremendous opportunities for growth as they have sizeable Muslim populations experiencing socioeconomic growth. Products certified by recognized bodies, such as JAKIM (Jabatan Kemajuan Islam Malaysia), will also boost consumer confidence and further propel growth, says Grand View Research.
Malaysia and Indonesia together accounted for nearly 60% of the Asia Pacific revenue in 2015, with skincare and makeup being the dominant products consumed. Personal care and beauty-care launches in Malaysia outnumbered UK and Philippines, primarily due to local brands such as SimplySiti and IVY Beauty.
Malaysia and Indonesia together accounted for nearly 60% of the Asia Pacific revenue in 2015, with skincare and makeup being the dominant products consumed. Personal care and beauty-care launches in Malaysia outnumbered UK and Philippines, primarily due to local brands such as SimplySiti and IVY Beauty.
Key findings from the report suggest:
Asia Pacific was the dominant region, hosting nearly 45% of the global Muslim population and accounting for nearly three-quarters of the overall revenue in 2015.
Countries such as India, Malaysia, Indonesia, Bangladesh, Pakistan and Maldives are characterised by considerable Muslim population numbers and improving socioeconomic conditions
The Middle East is also an important consumer hub for the industry, particularly considering high income levels in UAE, Saudi Arabia, Jordan, and Oman.
Major players include Malaysia's Clara International, INIKA, Talent Cosmetic Company, MMA Bio Lab, The Halal Cosmetics Company, Saaf Skincare, Prolab Cosmetics, Martha Tilaar Group, and Iba Halal Care. Shiseido, a Japanese company sells 28 halal skin care products under the brand name Za. Colgate-Palmolive Company also offers toothpaste products which are halal certified.
Awareness levels of Muslim populace regarding the ingredients used in
cosmetic and personal care formulations are to determine the industry's
future growth trajectory.
However, lack of standardised
certification system is hampering the growth of the market. When manufacturers have to follow different standards in different countries, the process
becomes complex and costly.
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