A new report by trend-forecaster WGSN has revealed that Halal beauty products present a huge opportunity for beauty brands.
The report says that there are currently more than 1.7 billion Muslim consumers worldwide. Muslim consumers also make up almost 30% of the emerging market – a largely untapped area of growth for global brands.
The demand for halal products is rapidly growing, and WGSN estimates that it will grow by 50% over the next three years. Theresa Yee, Senior Beauty Editor at WGSN, says: “Halal beauty is not really a new thing, but there is a huge amount of potential as it’s still a relatively untapped market.”
Yee says that WGSN has also seen the rise of a new consumer group – the Mipster, or Muslim hipster. “We think this is something that beauty brands should tap into,” she says. Mipsters see themselves as both part of the Muslim and mainstream cultures and are looking for brands that do the same.
“The modern Muslim women is more brand conscious and tech-savvy than ever before. They love beauty products but they aren’t willing to compromise on their faith,” Yee explains.
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