Halal Skincare Market in South East Asia is Expected to be Flourished by Increasing Consumer Demand for Ethical and Natural Products

 

South East Asia Halal Skincare Market

The South East Asia Halal skincare market comprises a wide range of skin care products that adhere to Islamic law or Shariah. Halal certified skincare products contain ingredients that are permissible according to Islamic dietary law. Some of the major halal certified skin care products include facial cleansers, moisturizers, creams, serums, and masks. Rising awareness regarding personal well-being and growing Muslim population across South East Asian countries such as Indonesia, Malaysia, and Singapore are driving the demand for halal certified skincare products.

The global South East Asia Halal skincare Market is estimated to be valued at US$ 584.37 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing consumer demand for ethical and natural products is one of the major drivers fueling the growth of the South East Asia halal skincare market. Muslim consumers are increasingly gravitating towards halal certified skincare products that are free from any animal-derived, alcohol-based, or GMO ingredients. In addition, rising female workforce participation coupled with increasing disposable income levels in South East Asian countries such as Indonesia, Malaysia, Thailand, and Singapore is further propelling the market growth. Halal certified skincare brands are launching innovative products incorporating natural active ingredients suitable for sensitive skin to cater to the needs of Muslim consumers. They are also leveraging social media platforms for promotions and branding which is expected to boost the sales of halal skincare products.

Segment Analysis

South East Asia halal skincare market is dominated by beauty and skincare products segment which holds around 65% market share. The segment is dominating as South East Asian countries especially Malaysia, Indonesia and Brunei have majority Muslim population where consumption of beauty products that are certifed halal is very high. Consumers prefer genuine halal certified products for religious reasons as well as for natural and herbal ingredients used in these products.

PEST Analysis

Political: Governments in South East Asian countries are promoting halal certified products industry by providing certifications and guidelines to manufacturers. This encourages local production of halal goods.

Economic: Rising disposable incomes and improving living standards in the region is driving demand for premium skincare products. Halal certified variants appeal to consumers as they are considered superior in quality.

Social: Strong influence of Islamic faith and custom of applying halal standards in daily life and consumption patterns. Social media further boosts popularity of halal beauty brands.

Technological: Companies leverage digital marketing and e-commerce platforms to promote their halal certified skincare ranges and build brands. Advanced formulation techniques help develop natural sourced products.

Key Takeaways

The Global South East Asia Halal Skincare Market is expected to witness high growth at a CAGR of 21% during the forecast period of 2023 to 2030.

The country has world's largest Muslim population and accounts for over 35% value share in SEA halal skincare industry.

Key players operating in the South East Asia halal skincare market are Active Motif, Inc., Illumina, Inc., Life Technologies, Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Qiagen, Knome, Inc., GE Healthcare, Geneva Bioinformatics SA, Quest Diagnostics, bitBiome, Inc., Intomics, Advanced BioInformatics GmbH, and Fios Genomics Ltd. Key players focus on formulation of natural sourced skincare ranges and leverage digital mediums to promote brands and capture market share.

For more details on the report, Read- https://www.pressreleasebulletin.com/south-east-asia-halal-skincare-market-size-and-share/