Islamic Inspection Service - SIILHalal

The global cosmetics market could make US$76 billion in sales to Muslim consumers by 2024, as it’s set to grow by 2.9 percent a year in the post-Covid-19 recovery. And, with the size of the market already standing at US$4 billion in 2019 for Malaysia and Indonesia, South-east Asia may become a leader in the global halal cosmetics industry.

This was stated by a United States-based research and advisory firm that focuses on Islamic market and economy segments.

Three South-east Asian countries – Malaysia, Indonesia, and Singapore – were scored among the top 15 world economies for the Islamic market, in DinarStandard’s latest State of the Global Islamic Economy study.

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