The South East Asia halal skincare market comprises face care, body care, and hair care products that comply with Islamic dietary and hygiene standards. These products are formulated without the use of alcohol, pig or animal-derived ingredients and use permissible plant and herbal extracts. They cater to the specific needs of the Muslim population in South East Asian countries like Malaysia, Indonesia, and Singapore who carefully check labels to ensure that cosmetic goods are halal-certified before use. The global Halal skincare market is estimated to be valued at US$ 673.2 Bn in 2024 and is expected to exhibit a CAGR of 15% over the forecast period of 2024 to 2030.
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. Stringent regulations on halal certification and product authentication have led to increased investments by these players in research and development of halal-certified formulations and packaging.
The growing religious observance of the Islamic population in South East Asian nations is driving strong demand for halal skincare and personal care products. According to statistics, the Muslim population in Indonesia alone is expected to reach 231 million by 2030. This surging consumer base offers lucrative opportunities for halal beauty brands.
Advancements in herbal extraction technology are allowing skincare formulators to tap into the therapeutic properties of herbs, fruits and plants mentioned in the Holy Quran and Hadith. Halal ingredients with anti-aging, brightening and healing properties are gaining popularity among Muslim consumers looking for both efficacy and religious certification in skincare goods.
Market Trends
The popularity of natural and herbal South East Asia Halal Skincare Market Share products is growing steadily as consumers become more environmentally conscious and seek chemical-free formulations. Halal beauty brands are leveraging this trend by promoting the use of plant-based ingredients permitted in Islam.
Luxury halal skincare lines with organic and clinically-tested ingredients targeted towards affluent consumers are emerging as a key trend. E-commerce platforms are effectively marketing premium halal brands to urban Islamic customers.
Market Opportunities
The rising spends on lifestyle and personal care among the middle-income Islamic population segments in developing Southeast nations present significant opportunities for mass-market halal skincare brands.
The growing Muslim traveller and tourist segment is generating demand for halal-certified travel retail products. Airports and hotels can potentially tap into this lucrative opportunity by stocking popular halal skincare brands.
Impact of COVID-19 on South East Asia Halal Skincare Market Growth
The COVID-19 pandemic severely impacted the South East Asia halal skincare market in the initial months. Country-wide lockdowns imposed to curb the spread of the virus led to closure of manufacturing facilities and disruption in the supply chain. This hampered production volumes as companies operated at limited capacities to meet health and safety guidelines. With people confined to their homes, demand from commercial segments like hotels and spa declined sharply. However, as people started spending more time at home, focus towards personal care and hygiene increased. This provided impetus to rising demand for affordable, natural and reliable skincare options through online platforms. To tap into new consumer behavior patterns, companies strengthened their online and e-commerce footprint. With economies gradually reopening, the market is witnessing a rebound. The growth trajectory is anticipated to continue in the next five years with increased uptake of natural, organic, halal certified products for personal grooming.
Europe accounts for the largest share of the South East Asia halal skincare market in terms of value. Strong consumer demand for premium natural skin and hair care products has been a major factor fueling market revenue in the region. However, the pandemic caused temporary disruptions and declining footfalls in physical stores. Recovery is expected to be faster compared to other regions led by growing preference for branded, high-performance halal skincare brands due to greater awareness. On the other hand, South Asia region is emerging as the fastest growing market for halal skincare products. Increasing spending power of middle-class consumers accompanied by rising Islamic population is creating sustained demand in countries like Indonesia, Malaysia and Bangladesh. Evolving lifestyles are boosting consumption of specialized products addressing specific skin types and concerns.
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The complete research framework on Global South East Asia Skincare Market reveals various influencing factors like growth factors, industry drivers, restraints, production techniques, latest market trends, market challenges, market extension and opportunities for beginners and established players in global runway lighting market.
As per the world economic evaluate the growth rate of the past four years, market size is estimated from 450 million $ in 2013 to 490 million $ in 2016.
The South East Asia Skincare Market is expected to exceed more than US$ 560 million by 2021 at a CAGR of 2.88% in the given forecast period.
The prime objective of this report is to help the user understand market share distribution of the number of key players in the market included is LÂ’Oreal, Clarins, Guinot, Aveda, SkinMedica, Obagi Medical, Dermalogica, 302 Skin Care, BABOR, Murad, REN, Bioelements, Dermstore.The South East Asia Skincare Market research report helps to understand cost-effective data in the form charts, tables, graphs, and figures which helps to analyze the market growth rate, market share, and trends.
The South East Asia Skincare market provides the in-depth approach towards market segments depicts the market investment areas and marketing strategies to achieve informed growth in the market like revenue, import/export data, volume delivered (in kilo tons) and the income it produces (in US$), demand and supply data (as applicable).
Additionally, also gives valuable data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies.
