The South East Asia Halal Skincare market is estimated to be valued at US$ 476.0 million in 2021, according to Halal Skincare Market Report, by Product Type (Creams & Lotions, Powder, Sprays, and Others (Gels, Moisturizers)), by Sales Channel (Offline and Online), by End User (Men, Women, and Unisex), and by Country (Indonesia, Thailand, Vietnam, Singapore, Malaysia, and Rest of South Asia), published by Coherent Market Insights.
The South East Asia Halal Skincare Market was valued at US$ 476.0 million in 2021. Skin care products help to maintain the texture of the skin, as well as improve its look and treat skin conditions. The rapid expansion of the skincare market is mostly due to rising skincare awareness all around world. Awareness about skin-friendly products among the global populace and the benefits of skin nourishment products in skincare products may invite good growth opportunities for the halal skincare market.
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https://www.coherentmarketinsights.com/market-insight/south-east-asia-halal-skincare-market-5124
Browse 50 market data tables* and 40 figures* on "South East Asia Halal Skincare Market” - Forecast to 2030
Key Trends and Analysis of the South East Asia Halal Skincare Market:
- The acceptance of halal cosmetics has been constantly increasing over the past few years, with interest primarily arising from consumers seeking products that comply with religious beliefs. This factor has led cosmetics companies to launch halal-certified skincare products such as creams, lotion, moisturizers and others in order to tap into this growing consumer base in South East Asia. Proper certification can open up significant trade opportunities for halal cosmetics companies in the region, since consumers perceive halal certification as an assurance of quality. Halal certification also enables the export of cosmetic products to various countries dominated by specific communities.
- A rise in the number of halal-certified companies in South East Asia is influencing the halal skincare market growth in the region. For instance, in 2017, according to data published by PricewaterhouseCoopers, a multinational professional services network of firms operating as partnerships under the PwC brand, Malaysia has aspirations to become a global hub for the production and trade of halal products and services. In June 2022, the government has trained more than 10,000 halal skilled workers and certified 5,500 halal companies, exported US$ 8.6 billion worth of halal export as well as established analysis centers, research & development, and reference centers. It has also developed the right ecosystem, covering infrastructure, reference center, human capital, production & services, and government support.
Key Takeaways of the South East Asia Halal Skincare Market:
- Based on End User, Women segment acquired the highest market share in the Southeast Asia halal skincare market in 2021. The rising awareness of skin disease towards the use of chemical products, launch of various halal skincare products by the market players to cater largest customer base, and increasing demand for cruelty-free skincare product are the factors driving the demand for halal skincare product.
- Based on sales channel, the rise in working women populace, burgeoning adoption of smartphones and snowballing demand for halal skincare products via online distribution channel are projected to accelerate the growth of Southeast Asia halal skincare market during the forecast period.
- Major players operating in the South East Asia halal skincare market include Amara Halal Cosmetics, Andalou,Clara International Beauty Group, COSMECCA KOREA, COSRX, Ecotrail Personal Care Pvt. Ltd., Halal Korea Co., Ltd., INGLOT Cosmetics, INIKA organic, IVY Beauty Corporation, KOLMAR KOREA, SO.LEK Cosmetics, and Talent Cosmetics.
- Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the South East Asia halal skincare market. For instance, in December 2019, INIKA Organic, an Australian brand, offered 100% natural and vegan mineral cosmetics announced the launch of their new skincare range. The range is based around ‘Phytofuse Renew’, an extract from the Rose of Jericho known for its protective and healing properties. This, new product launch is expected to create lucrative opportunities for market growth.
South East Asia Halal Skincare Market - Impact of Coronavirus (COVID-19) Pandemic
- The COVID-19 pandemic continues to wreak havoc on the supply chain of the South East Asia halal skincare market and has put its resilience and flexibility to test. South East Asian countries such as Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, and Thailand are prominent markets in terms of both production and consumption of halal skincare products. However, Indonesia and Malaysia are most heavily impacted by the COVID-19. The pandemic has slowed the halal skincare manufacturing projects due to labor shortage and disruption in raw material supply. Due to such interruptions at global trade, the projects under construction were delayed, resulting in higher CAPEX for such construction projects, which in turn halted the supply of halal skincare products.
