Market Beat Halal beauty products on the rise According to Organic Monitor, a new personal care label is targeted at one of the fastestgrowing consumer groups in the world; the halal cosmetics label is designed for Muslim consumers, which now comprise approximately 20% of the global population. The halal label appeals to Muslim consumers seeking integrity and authenticity in their beauty and personal care products. Concerns about animal-derived ingredients— such as gelatin and collagen— in beauty products are fueling demand. International sales of halal-certified beauty and personal care products are upward of $5 billion, and a growing number of beauty and cosmetic ingredient firms are taking up halal certification in Asia. The highest adoption rates are in Muslim countries where multinationals that include Colgate-Palmolive and Avon have launched halal-certified products. Also, international chemical firms like BASF and CP Kelco are developing ingredients certified for such markets. At present, 57 certification agencies are authorized to certify products according to the halal cosmetics standard. Although the highest adoption rates are in countries like Malaysia and Indonesia, certification is also catching on in Europe and North America. Organic Monitor sees high potential for halal-certified products in the Middle East and Asia. In many of these countries, the market for natural and organic beauty products is growing by over 20% a year, and rising consumer affluence coupled with growing knowledge of product formulations is making consumers pay a premium for beauty products that meet their ethical and religious beliefs. BB Cream Market Looks Promising According to a report by The NPD Group, BB Creams (multi-functional products that combine the functionality of primers, SPF and moisturizers, along with the anti-aging benefits of skin serums), also referred to as “blemish balms” or “beauty balms,” grew significantly in sales in 2012. The relatively new product is quickly catching the fancy of a small segment of U.S. women. According to NPD, about eight in 10 beauty shoppers like beauty products that offer multiple benefits, and that rises to just over nine in 10 for BB Cream purchasers. The top five benefits expected from a BB Cream include: natural looking coverage (52%), moisturizes/ hydrates skin (47%), nourishes/ treats skin (42%), provides SPF sunscreen protection (42%), and improves skin texture (38%).Although the incidence of purchasing BB Creams is currently very small (2% of total beauty shoppers), the majority of purchasers tell NPD they’re extremely or very satisfied with their last BB Cream purchase, and 77% express positive repurchase intent. According to the report, almost four in 10 beauty shoppers overall say that they would consider buying a BB Cream in the future. “About half of all beauty shoppers are sitting on the fence, saying they may or may not buy BB Creams in the future,” said Karen Grant, VP & Senior Global Industry Analyst, The NPD Group. “Why does that matter? Almost seven in 10 BB Cream purchasers have replaced either a makeup or skincare product with a BB Cream. Even though usage is low right now, as more brands enter the market and the category grows, cannibalization could become a much larger challenge.” March 2013 Spray 29
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