ANALYSIS 17
Women spur Halal cosmetics across globe
n Vaishali Tikekar - Allied Market Research, India
There is a growing trend to use cosmetics which are free from alcohol, animal fats, and gelatin among the global population, thus, creating room for consumption of Halal cosmetics across the globe. This trend is expected to increase in the future owing to growth in adoption of cosmetics among the Muslim population.
It has been observed that there is dearth of cosmetics among Indian Muslim women, offering opportunities for entrepreneurs to avail. Here is a case of Indian girls who wanted to grab the opportunity offered by the Halal cosmetics market in India. They conducted qualitative and quantitative surveys across Indian cities and found that by introducing a new cosmetic line, they would be able to provide a better alternative to Indian women. Therefore, they decided to launch Iba Halal Care, as India’s first Halal cosmetic brand in Ahmedabad. Now they are going to introduce their cosmetic line to other cities of India, to take ‘first mover’ advantage of the Halal cosmetic market. In addition, the industry has become a new investment pocket. An Ahmedabad-based company, GVFL Ltd. has decided to invest in Iba Halal Care. The fund raised will be utilised to extend the reach of Iba in other parts of India. The Halal cosmetic market has attracted more customers from the Asia Pacific region than other regions. China understands this trend well and therefore has invested $1 million in
November 2017
its ‘One Belt One Road’, which will in turn fuel growth of the $50 million GCC Halal economy. This will lead to a decrease in the cost of Halal cosmetics across the Middle East. It is worth noting that Dubai is a leading exporter of modest fashion to IOC countries and is able to cater to an increase in demand for Halal cosmetics. China has prepared an infrastructure to support Halal trade, including the construction of Halal food and Muslim supplies manufacturing hubs, such as the Wuzhong Halal industrial park. This park will be located in the Muslim stronghold of Ningxia, which has attracted 218 companies. There is yet another line of Halal cosmetics to be launched in Australia by the name of Aisa Halal Cosmetics. Its products are Halal certified by an Islamic Association in Perth. They promote the use of Halal cosmetics by Muslim as well as non-Muslim women, and they believe that Halal does not prevent use of alcohol in products rather it is a holistic approach. According to owner of the Aisa Halal Cosmetics, ‘Halal’ means to use those ingredients which are safe for consumption. Moreover, the owner claims that products of its company are high quality, fresh, and modern. The company has gained acceptance among Australian women consumers, and inspired by its success in Australia, the company aims to launch its products in the European market. The rise
in demand of the cosmetics has led to an increase in supply of such products even from the Western world. Here is an instance of 786 Cosmetics, a Chicago-based cosmetic care line which has launched its summer collection of Halal nail polish colours. It has been inspired from cities around the world. At present, it has full stock for six colours, and limited edition colours from Kashmir and Abu Dhabi rolled out in September.
The aim of the Chicago-based company
is to provide quality products manufactured especially for Muslim women around the world. Furthermore, there is an increasing trend for collaborations among the multinational players to tap into the opportunities prevailing in the Halal industry. Recently, Manchester United has formed a partnership with Aladdin Group to expand its business in the market. The alliance was formed to launch the latter’s website globally. Together, both the companies will be able to sell a wide range of Halal certified products, such as food, cosmetics, fashion goods, and electronics. The abovementioned examples showcase a growing trend of Halal cosmetics consumption across the globe. The Halal cosmetic industry remains boundless and is anticipated to rise with a CAGR of 15.2% as per the report recently published by Allied Market Research, titled: Halal Cosmetics Market.
PC PERSONAL CARE ASIA PACIFIC
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