Asia-pacific Halal Cosmetics Market Forecast 2023-2032

Asia-pacific Halal Cosmetics Market Forecast 2023-2032

KEY FINDINGS

The Asia-Pacific halal cosmetics market is projected to rise with a 9.08% CAGR during the forecast period, 2023-2032. an increased presence of halal-certified companies in the region and the growing Muslim population in Southeast Asian countries are propelling market growth.

MARKET INSIGHTS

The Asia-Pacific halal cosmetics market growth analysis includes the assessment of Australia & New Zealand, Bangladesh, Indonesia, Malaysia, China, India, Philippines, Singapore, and Rest of Asia-Pacific. Bangladesh is poised to leverage Islamic branding as more businesses move to satisfy the country’s growing appetite for halal goods, as evidenced by the rising sales figures. The Bangladesh Standards and Testing Institution (BSTI) has pledged to issue halal certification for processed foods and cosmetics following Islamic law, paving the way for new beauty companies to capitalize on the opportunity to reach the fast-growing Muslim population.

On the other hand, the Malaysian government’s ambitious goal of becoming a ‘global hub for halal products’ has created significant opportunities for halal personal care businesses, provided they comply with rigorous certification requirements. With Malaysia’s reputation as the leading destination for Muslim tourists and its active promotion to this consumer segment, the market extends beyond local customers.

As the global Muslim consumer base expands, many businesses are exploring untapped online sales channels for halal-certified products. While Malaysians previously primarily purchased conventional personal care items such as bath or hair care products, their increasing disposable incomes in recent years, coupled with greater product availability, have led to a surge in demand for new grooming goods and services.

COMPETITIVE INSIGHTS

Key market players include PHB Ethical Beauty, Inglot Cosmetics, Clara International Beauty Group, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments