Korean products still remain relatively unknown to Muslim consumers. However, market analysts say Korean pop culture could help them gain a footing.
To date, only a handful of Korean firms, such as Pulmuone, have obtained the necessary certification and expanded in countries like Malaysia and Indonesia.
According to Korea based public service agency Arirang; 'Talent Cosmetics' is the first Korean cosmetics brand to receive halal certification from the Malaysian government.
The company who uses popular K-pop groups to advertise its cosmetics, hopes this will allow it to gain better access to the $2 -trillion-dollar Islamic market.
Halal cosmetics and personal care products are safer than other chemically manufactured cosmetics, as Islamic law prohibits the use of ingredients and chemicals that affect the human skin.
"Products without halal certification are being exported to Islamic nations, but obviously Muslims don't buy them.”
However, Arirang reports that when products have the certification, they become a preferred choice, and because of the growing popularity of Hallyu there, that will make Korean products more appealing.
To take full advantage of this blue ocean market, the publication stressed that companies should also do more to offer halal-related goods and services in Korea to better cater to the growing local Muslim population, and those who are visiting.
Global Halal cosmetics market
The global Halal cosmetics market continues to grow thanks to the rising Muslim population in the Asia-Pacific region which has seen Halal production and consumption increase.
The APAC region is gaining a significant market share due to countries like Malaysia, Indonesia, and Thailand emerging as Halal production and consumption hubs.
These countries are also conducting various marketing promotions and strategies, which is increasing the demand for and consumption of Halal cosmetics and personal care products in these countries.
According to the latest research by London-based global research firm Technavio, the growing Muslim population in APAC is contributing to the growth of the Global Halal Cosmetics and Personal Care Market, as per its latest research report on Global Halal Cosmetics and Personal Care Market (2014-2018).