08
@Halal | september-october. 2019
Review
By Hasniza Ramli
Chief Executive Officer, Global Haltech
Halal cosmetics:
A blooming
industry
How the world is riding on a gigantic wave of
Islam-approved beauty care
Cosmetics and
Personal Care
Products are widely
known as makeup or
make-up. It is a care
substance used to enhance
the appearance, beauty or
odour of the human body.
They are generally mixtures
of chemical compounds, some
being derived from natural
sources (animal or plant) and
many being synthetics."
T
he halal cosmetic industry
has been expanding and grow-
ing rapidly around the world in
both the developed and develop-
ing countries. Because of how
the Muslim population accounts
for about a quarter of the world’s population
(and is expected to grow drastically), The halal
cosmetics industry in Muslim-dominant
countries such as UAE, Saudi Arabia, Indone-
sia, Malaysia, Turkey, and others seems to be
one of the fastest growing markets. Therefore,
manufacturers focus on increased produc-
tion of halal cosmetics to cater to the growing
demands of these consumers.
The global market value
The global halal cosmetics market size
was estimated at US$66 billion in 2018 and
is projected to reach US$94 billion by 2024
registering a CAGR of six per cent, according
to a new report by Grand View Research, Inc.
Considerable Islamic population base across
the globe that is willing to pay premium
prices for Halal-certified beauty products is
anticipated to drive the product demand over
the forecast period.
The market is niche with the presence of
both large and small scale manufacturers.
Growing concern among consumers about
the usage of animal-derived ingredients,
such as gelatin and collagen, has resulted in
the increased production of halal-certified
products by many cosmetic industry partici-
pants. Global awareness regarding the use of
cosmetic products is also likely to be one of
the key factors driving the market.
As a result of the growing demand,
regional companies have started introducing
Shariah-compliant products and are enter-
ing the global market. Middle East and Africa
accounted for around 18 per cent of the global
revenue share in 2018.
Fastest growing
interest among consumers
To further streamline the interest of cosmet-
ics categories based on demand; Skin care is