Low Market Share of Halal Cosmetics
With the global cosmetics market valued at USD 335 billion, the halal segment still remains relatively small in comparison to the 1.6 billion Muslim population.
The market share of halal cosmetics is just 4% and despite there being a rising awareness and demand for halal cosmetics in recent years, more than 20% of the market potential is not being catered to.
Halal certification and acceptance of Halal products had been widespread in the hospitality, food, packaging, banking and finance industries. However, the demand for cosmetics and beauty products has been a little slower; although this is due to change as increasing consumer awareness and a willingness to pay for quality products is transforming the personal care industry.
To combat this the Halal Research Council has launched a specialized department to provide consumers with more information on Muslim preferences. Talking to 'The Nation', HRC Chairman Zubair Mughal reckons about 6 billion people of the world use the likes of soap daily and this number is prominently increasing day by day.
"Current chemical components and scientific developments have raised different questions about the Halal authenticity of soap and have evidently proved the involvement of non-halal ingredients i.e. Tallow extracted from the fat of swine, chemical from the haram animals. Satiric Acid which is obtained from Lards and all this mixture and blending have distinguished between the division of halal and haram," he told the publication.
Although halal-consciousness remains in its infancy, there is plenty of room for further education and development in what determines a 'halal cosmetic product'. Opportunities exist in ingredients manufacturing, global branded concepts of organic and halal cosmetics.
There are also a number of cosmetic brands providing speciality cosmetic products, including the Sunsilk Clean & Fresh brand, designed for women who wear veils, and Inglot brand of impermeable nail polish.
Likewise, businesses that specifically target Halal certified cosmetic and personal care products including Malaysia-based Ivy, Saaf Cosmetics in the UK, One Pure in the UAE and Inika, based in Australia are seeing success.
Source: Cosmetics Design Asia
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