alexa Malaysian Cosmetic Market: Current and Future Prospects | Abstract
ISSN: 2167-7689

Pharmaceutical Regulatory Affairs: Open Access
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Abstract

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.

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Author(s): Mohamed Azmi Hassali, Saleh Karamah AL-Tamimi, Omar Thanoon Dawood, Ashutosh Kumar Verma, Fahad Saleem

Keywords

Cosmetics, Halal cosmetics, Malaysia, Malaysian consumer, Marketing, Regulatory consulting and market analysis,Regulatory services and market analysis

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