The South East Asia halal skincare market encompasses a wide
range of natural beauty products including face creams, moisturizers, cleansers
and serums that contain ingredients permissible according to Islamic law. These
skincare products are formulated using naturally-derived components rather than
synthetic or animal-derived elements and are free from harmful chemicals,
guaranteeing peace of mind to Muslim consumers. The growing popularity of halal
certified personal care items can be attributed to rising health concerns and
an increasing preference for naturalism.
The global
halal skincare market is estimated to be valued at US$ 673.2 billion in 2024
and is expected to exhibit a CAGR of 15 % over the forecast period 2024 to
2031.
Key Takeaways
Key players operating in the South East Asia halal skincare market are Natron
Energy Inc., Faradion Limited, Altris AB, AMTE Power PLC, Contemporary Amperex
Technology Co. Limited, NGK Insulators Ltd., and TIAMAT SAS. The key players
are focusing on developing innovative halal certified skincare products with
natural botanical ingredients to tap the increasing demand from Muslim-majority
countries.
The increasing working women population along with rising disposable incomes
has boosted the demand for personal care products in
South
East Asia Halal Skincare Market Demand. The growing awareness about
health benefits of herbal skincare items compatible with Islamic beliefs is
propelling the sales of halal certified face creams, cleansers and serums.
Moreover, the availability of these products on e-commerce platforms along with
targeted marketing campaigns by halal brands has widened their consumer reach.
The growing Muslim populations in Western countries is encouraging global
skincare giants to expand their halal product lines. Southeast Asian halal
cosmetic companies are also exploring new opportunities in the vast Islamic
markets of Middle East and North Africa. Partnerships with halal certifying
agencies are helping brands penetrate untapped overseas markets and position
themselves as credible suppliers of permissible beauty products.
Market Key Trends
One of the key trends gaining momentum in the South East Asia halal skincare
market is the increased usage of ayurvedic ingredients derived from plants.
Several products contain natural herbs and botanicals like turmeric, neem, aloe
vera and chamomile known for their skin healing and anti-aging properties
according to ayurveda. This makes such product lines appealing to both Muslim
and health-conscious consumers. The availability of ayurvedic halal skincare
allows consumers following Islamic dietary laws to enjoy the revitalizing
benefits of ancient Indian herbal remedies.
Porter’s
Analysis
Threat of new entrants: The South East Asia halal skincare market is fragmented
with presence of both global and regional players. Established brands,
regulations and certification requirements pose barriers for new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to
availability of alternate brands and product options. Switching costs are low
for buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to
availability of alternative raw material suppliers and procurement channels.
Suppliers need to comply with regulatory requirements.
Threat of new substitutes: Threat of new substitutes is low as halal certified
skincare products address religious beliefs with no close substitutes.
Competitive rivalry: Market is growing rapidly attracting new investors.
Intense competition exists amongst existing players to gain market share
through product differentiation, brand positioning and certifications.
Geographical Regions
Indonesia accounts for over 40% value share in South East Asia halal skincare
market led by increasing population of Muslim consumers and strengthened
religious beliefs. Besides, establishment of halal industry bodies promote and
regulate halal certification spurring market growth.
Malaysia is the fastest growing region projected to expand at over 17% CAGR
during forecast period supported by rising exports. Government initiatives
promote Malaysia as halal hub encouraging foreign investments while religious
travelers from Middle East and Asia Pacific boost consumption.
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Insights on- South
East Asia Halal Skincare Market
About
Author:
Money
Singh is a seasoned
content writer with over four years of experience in the market research
sector. Her expertise spans various industries, including food and beverages,
biotechnology, chemical and materials, defense and aerospace, consumer goods,
etc. (https://www.linkedin.com/in/money-singh-590844163)
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