Malaysian Cosmetic Market: Current and Future ProspectsMohamed Azmi Hassali*
Discipline of Social and Administrative Pharmacy, School of Pharmaceutical Sciences, Universiti Sains Malaysia, Malaysia
- *Corresponding Author:
- Mohamed Azmi Hassali
Professor, Deputy Dean
Discipline of Social and Administrative Pharmacy
School of Pharmaceutical Sciences
Universiti Sains Malaysia
11800 Penang, Malaysia
Tel: +6046533888 ext. 4085
E-mail: [email protected]
Received date: September 29, 2015; Accepted date: October 20, 2015; Published date: October 23, 2015
Citation: Hassali MA (2015) Malaysian Cosmetic Market: Current and Future Prospects. Pharmaceut Reg Affairs 4:155. doi: 10.4172/2167-7689.1000155
Copyright: © 2015 Hassali MA. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The cosmetic industry has been expanding rapidly in both developed and developing countries. The cosmetics market in Asia seems to be one of the fastest growing markets. The market value of the Asia Pacific has increased to more than US$70 billion, which is the second highest market after the Western European market. As reported in 2013, Malaysian spent about US$407 million on cosmetics and toiletries products and this demand was mainly met by imports. The skin care products are the main driver of the cosmetics markets, which represent value of US$229 million followed by eye color cosmetics with value of US$20.6 million. In 2013, Malaysia imported about US$295 million worth of cosmetics and toiletries and the top three importing countries are the United States, Japan and Thailand. It is found that Malaysian consumers’ interest was influenced by heavy advertising, marketing and growing prosperity that increased their interest in premium brands, and they prefer to use imported cosmetics products. The more recent in the Malaysian market trade is the emerging of halal cosmetics which will be attraction for the country’s Muslim customers.