Malaysia is an emerging name in the world of global beauty industry. The Malaysia has rejoiced remarkable GDP growth in the year 2012 and thus, striking and compatible economic conditions enable the country to drive the demand of beauty care products towards the next level.
There is a substantial consumer buying power here in Malaysia that let the Malaysians to have firm confidence to buy various beauty and personal care products without any compromise in quality. Most specifically, the Malaysian’s Halal beauty products have gained lots of appreciation all across the globe. The Malaysia was placed at third in terms of exporting halal beauty products as stated by the Muslim association for industry development cooperation (HDC).
Typically, the Muslims are turned out to be the most concerned consumers that help in originating different fast moving consumer goods segment all across the world. This trend has led the Halal beauty products market of Malaysia in a better position with a noticeable growth rate that is increasing over time. Moreover, the production of Halal cosmetic catches the spotlight of western world as well by rapidly making their way to enter and strengthening their grip over the big markets. Being a Muslim dominating state, the potential of Halal beauty products market tend to be conspicuous that will be an opportunity to make healthy contribution in the Malaysian economy.
It has been derived from the statistics that during 2010 to 2012, the export of Pro-Sharia products had outperformed by RM 1.3 billion and RM 1.73 billion respectively. There are number of leading companies that are primarily engaged in marketing Halal beauty products such as IVY Beauty Corporation, Simply Siti and Beauty Icon. The Malaysia is looking forward to explore countries like Russia, US, China where Muslims are in minorities. These markets can be acted as considerable market for Halal beauty products in upcoming future. According to researchers, there is still a vast untapped potential opportunities that needs to be explored for further exposure.
By the year 2011, a total 114 local based companies that were dealing in Halal beauty products and were duly authorized. In addition, around 3,493 ranges of Halal beauty products are manufactured in Malaysia. From global perspective, this sector has a steady growth and is constantly elevating by posting a growth of 20% on yearly basis. As investigated by Organic Monitor, the worldwide sales of Halal beauty product were valued at $14 billion in which Middle East has strong penetration.
The Halal beauty product is not solely dedicated to Muslims only but huge numbers of Non-Muslims are also exploiting certain items in a wide capacity. This is due to supreme quality; purity and safety as Sharia-compliant product have number of pros in relation to traditional beauty product line such as free from alcoholic involvement and less injurious for sensitive skin.
.jpg)