South East Asia has witnessed a rapid increase in demand for Halal-certified cosmetic products owing to rising awareness about halal lifestyle and growing Muslim population in the region. Halal skincare products are developed using ingredients free from any animal-derived components or alcohol, making them safe for consumption according to Islamic laws. Skincare items such as moisturizers, cleansers, toners and serums help clear and nourish the skin while respecting religious beliefs.

The global South East Asia Halal Skincare Market is estimated to be valued at US$ 584.37 Mn in 2023 and is expected to exhibit a CAGR of 21 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising awareness of halal lifestyle has been a major driver for the growth of halal skincare market in South East Asia. Young Muslims in the region are increasingly conscious about using personal care products that comply with their religious beliefs. They want their skincare and makeup items to be ethically sourced and not contain any ingredients derived from animals. This growing emphasis on Islamic values in everyday purchases has encouraged skincare brands to offer wider ranges of halal-certified products for the South East Asian Muslim population. The market is witnessing introduction of new formulations specifically targeting young Muslim consumers with innovative formats and engaging digital marketing initiatives.

SWOT Analysis
Strength: The South East Asia halal skincare market is driven by rising demand for natural and organic skincare products from the growing Muslim population in the region.
Weakness: Lack of standardized certification and regulations for halal standards limit market expansion.
Opportunity: Increasing brand awareness through effective promotions and expanding distribution channels especially in emerging countries present high growth prospects.
Threats: Intense competition from local players offering similar products at lower prices pose challenge to established brands.

Key Takeaways

The Global South East Asia Halal Skincare Market is estimated to be valued at US$ 584.37 Mn in 2023 and is expected to exhibit a CAGR of 21 % over the forecast period 2023 to 2030.

The global South East Asia halal skincare market is expected to witness high growth. The market in Indonesia is dominating currently due to the presence of the world's largest Muslim population along with growing Internet penetration aiding online sales of halal beauty products. Malaysia and Singapore also offer lucrative opportunities attributed to their expanding middle-class consumers shifting to premium organic skincare brands.

Key players operating in the South East Asia halal skincare market are Active Motif, Inc., Illumina, Inc., Life Technologies, Affymetrix, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Qiagen, Knome, Inc., GE Healthcare, Geneva Bioinformatics SA, Quest Diagnostics, bitBiome, Inc., Intomics, Advanced BioInformatics GmbH, and Fios Genomics Ltd. Major players are focusing on introducing innovative skincare ranges targeting specific skin problems like acne, aging, and sensitivity to capture untapped regional markets.

For more insights, Read- https://perfectinsights.blogspot.com/2023/12/halal-skincare-market-in-south-east.html