The projected growth will follow two key consumer trends: the growing number of Muslim consumers, and increasing customer concern surrounding halal cosmetics.
“There is an increase in the demand for cosmetics and personal care products which adhere to Islamic law,” analysts for the report firm note.
For a product to be halal approved, it cannot contain alcohol, be tested on animals, contain any non-permissible animal-derived ingredients; cosmetics consumers who observe this religious law are increasingly turning their focus onto beauty products.
At present, the halal segment's market share is just 5.7% of overall beauty sales, and despite there being a rising awareness and demand for halal cosmetics in recent years, the Halal Research Council state that more than 20% of the market potential is not being catered so far.
“One of the emerging trends in the market is the increase in awareness about the transdermal penetration of cosmetics,” analysts who compiled the recent report note.
“For instance, lipstick applied on the lips could be ingested and there are a few chemicals in such cosmetics and also in personal care products which can directly enter the blood stream. If such products contain any animal ingredients that are not permissible, then the penetration or ingestion of such products is a major concern for Muslim end-users,” they conclude.
Brands gearing up for trend
The report covers Malaysia, Indonesia, Pakistan, India, Bangladesh,Thailand, China and the ANZ region; it also covers the halal cosmetics and personal care market in the APAC region market landscape and its growth prospects in the coming years.
Many brands have been mobilising recently to tap into the trend, including Malaysia-based Ivy, Saaf Cosmetics in the UK, One Pure in the UAE, and Inika, based in Australia.
There are also a number of cosmetic brands providing specialty cosmetic products, including the Sunsilk Clean & Fresh brand, designed for women who wear veils, and Inglot brand of impermeable nail polish.