Skincare products with Halal certification cater to the growing Muslim population across South East Asia who follow religious guidelines prohibiting use of alcohol, pork-derived ingredients and animal by-products. The growing availability of anti-aging creams, serums, cleansers and moisturizers formulated with natural and herbal extracts allows adherents of Islam to take care of their skin health while complying with religious beliefs. These products containing plant-based extracts and essential oils offer skin nourishment without compromising on faith. The regional Halal skincare industry has witnessed a proliferation of brands offering comprehensive skincare routines, from daily cleansers to specialty treatments, customized for the South East Asian climate and skin types.
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 Halal skincare market in South East Asia is driven by innovation in natural and herbal ingredients. Product developers are focusing on unique ingredient combinations featuring botanicals sourced from across South East Asia to address multiple skin concerns. Turmeric, green tea and magnolia flower extracts are replacing synthetic preservatives andcolors in facial masks, peels and creams to cater to consumer demand for toxin-free formulations. Manufacturers are also leveraging social media platforms to promote Halal certified Korean and Japanese skincare trends involving multi-step routines and miniaturized packaging. This is increasing the penetration of toner, essence and ampoule categories complying with Islamic guidelines on modest packaging and non-animal ingredients.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investment is required to enter this market however growing demand and consumer awareness offers opportunities.
Bargaining power of buyers: The bargaining power of buyers is high as there are many existing competitors and alternatives offering quality products at competitive prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as suppliers provide raw materials and natural ingredients that have alternatives but also need to comply to quality standards.
Threat of new substitutes: The threat of new substitutes is high as more vegan, chemical-free skincare options emerge. Technology also enables product customization.
Competitive rivalry: Competition is intense as existing players compete on brand, quality, innovation and pricing.
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 South East Asia Halal Skincare market is expected to witness high growth over the forecast period led by growing Muslim population, rising consciousness about ingredients and halal certification compliance. Indonesia has emerged as the largest and fastest growing market in the region accounting for over 35% market share due to its large Muslim majority and growing middle class.
The 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. These companies compete on product innovation, quality certifications and marketing. Players are focused on custom skincare formulations tailored to specific skin types, cultures to drive brand loyalty in this rapidly evolving market.
For more details on the report, Read- https://www.insightprobing.com/south-east-asia-halal-skincare-market-demand/
The complete research framework on Global South East Asia Skincare Market reveals various influencing factors like growth factors, industry drivers, restraints, production techniques, latest market trends, market challenges, market extension and opportunities for beginners and established players in global runway lighting market.
As per the world economic evaluate the growth rate of the past four years, market size is estimated from 450 million $ in 2013 to 490 million $ in 2016.
The South East Asia Skincare Market is expected to exceed more than US$ 560 million by 2021 at a CAGR of 2.88% in the given forecast period.
The prime objective of this report is to help the user understand market share distribution of the number of key players in the market included is LÂ’Oreal, Clarins, Guinot, Aveda, SkinMedica, Obagi Medical, Dermalogica, 302 Skin Care, BABOR, Murad, REN, Bioelements, Dermstore.The South East Asia Skincare Market research report helps to understand cost-effective data in the form charts, tables, graphs, and figures which helps to analyze the market growth rate, market share, and trends.
The South East Asia Skincare market provides the in-depth approach towards market segments depicts the market investment areas and marketing strategies to achieve informed growth in the market like revenue, import/export data, volume delivered (in kilo tons) and the income it produces (in US$), demand and supply data (as applicable).
Additionally, also gives valuable data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies.
