by Halal cosmetic products refer to personal care items that are permissible according to Islamic law (Sharia). They do not contain any ingredients or compounds that are considered hazardous to health or originate from non-halal sources. The products range from skincare, makeup, perfumes to hair care items.Halal cosmetics are becoming increasingly popular among Muslim consumers in Asia Pacific due to stringent ingredient evaluation and formulations free from alcohol and animal-derived components.
The global Asia Pacific Halal Cosmetic Market is estimated to be valued at US$3.59 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Consumers today are more conscious about the ingredients used in personal care items and prefer products made from natural sources over chemicals. This is encouraging cosmetic brands to come up with halal certified lines containing ingredients of plant, herbal or mineral origin. Additionally, the growing health and wellness trend has increased focus on nourishment of skin from within, driving demand for nutraceutical ingredients in cosmetic formulations. Key players are leveraging this opportunity by launching products with ingredients offering anti-aging and other health benefits. Therefore, focus on organic and functional ingredients will promote market growth.
SWOT Analysis
Strength: Halal cosmetic products are manufactured using ingredients and methods that adhere to Islamic law. This makes the products suitable for the large Muslim population in Asia Pacific and helps tap an untapped market segment. Manufacturers offer a wide range of products including skin care, hair care, color cosmetics, and fragrances which meet the religious and cultural needs of consumers. The certification and standardization of halal products also boosts consumer confidence in the quality and reliability of such goods.
Weakness: Halal cosmetic products command a higher price than conventional cosmetic goods due to additional production and certification costs. This acts as a deterrent for some price-sensitive customers. Moreover, the concepts of halal cosmetics are still unfamiliar to many local consumers and lack of proper education results in lower demand.
Opportunity: Rising disposable incomes and improving living standards in Asia Pacific countries are increasing spending on personal grooming and appearance-enhancing products. Strong economic growth coupled with fast urbanization is propelling demand for superior quality halal cosmetic products. Many domestic and international brands are launching new lines and expanding distributor networks to tap the burgeoning halal beauty industry.
Threats: Availability of low-cost imitation halal products of dubious quality can undermine brand loyalty and consumer confidence over time. Furthermore, disputes over halal certification among governing bodies creates uncertainties around standards. Economic slowdowns can potentially reduce discretionary spending on cosmetics.
Key Takeaways
The Global Asia Pacific Halal Cosmetic Market Size is expected to witness high growth. The global Asia Pacific Halal Cosmetic Market is estimated to be valued at US$3.59 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.
Regional analysis related content comprises demand for halal certified personal care and beauty products is significantly high in Indonesia, Malaysia, Pakistan, and the GCC countries due to a large Muslim population base. Countries like Indonesia, Turkey and Iran accounted for over 60% of the total Asia Pacific halal cosmetic market in 2020.
Key players related content comprises Key players operating in the Asia Pacific Halal Cosmetic Market are L’Oreal, P&G, Unilever, Johnson & Johnson, Evelyn Kim, Jetaine, Sampure Minerals, Amara Cosmetics.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
