[Finance] Seizing the Halal Beauty Market Opportunity: Taiwan's MIT Products Target ASEAN Muslim Market

The global Muslim population of 2 billion people is driving the rapid growth of the halal beauty market. As a major hub for the halal industry, Malaysia, with its mature certification system and industrial advantages, has become an important base for Taiwanese beauty and biotechnology companies to expand into the ASEAN and Middle Eastern Muslim markets. Halal certification is not limited to the concept of 'no pork, no lard.' It requires compliance with relevant regulations from raw material sourcing, production processes, to packaging and logistics management. As the concept of halal extends from food to daily consumer goods, beauty products such as masks and skincare also need to meet halal certification standards. The 4-day Malaysia International Beauty Expo (IBE) concluded on the 16th, with 400 exhibitors this year. Among them, the Taiwan Pavilion, composed of over 40 beauty and biotechnology companies, became the focus of the exhibition. Many Muslim consumers and buyers stopped by the Taiwan Pavilion to inquire about product ingredients, manufacturing processes, and halal certification information. Due to the quality and innovative characteristics of Taiwanese beauty and biotechnology products, the response on-site was enthusiastic, with many Muslims showing high interest in MIT products that have obtained halal certification. Wang Yin-po, Secretary-General of the Taiwan Cleaning Products Industrial Association, pointed out that Malaysia has a mature halal certification system and a vast Muslim consumer market. This beauty expo is not only a platform for showcasing MIT beauty and biotechnology products but also an important window for understanding the halal certification system and Muslim consumer trends. Biomedical industry professional Yang Shi-min stated that Malaysia's strategic geographical location serves not only as a springboard for entering the ASEAN market but also connects to surrounding markets such as Thailand, Vietnam, Indonesia, and Singapore. Furthermore, as a member of ASEAN, Malaysia has advantages in regional trade and tariff systems, coupled with its diverse ethnic characteristics, making it an important base for observing the needs of different consumer groups. Beauty industry professional Chen Da-xin pointed out that the Southeast Asian market accounts for about one-quarter of the global beauty industry's business opportunities, making it highly attractive to companies looking to expand into the region. However, obtaining halal certification is almost a prerequisite for successfully entering the Southeast Asian Muslim market. She explained that to obtain halal certification, companies must fully comply with relevant regulations in all aspects, from raw material selection and production processes to logistics and transportation. The entire supply chain must undergo strict review to successfully obtain halal certification. Additionally, Ohmi, a participating biotechnology exhibitor from Mexico, said that for Taiwanese companies intending to enter the Middle Eastern and Muslim markets, the quality of Taiwanese halal products is quite good. Malaysia is an excellent entry point for entering markets like the Middle East. She believes that Malaysia is like a main gateway that can help companies open up the market and understand local brands and target customers. For Taiwan, obtaining halal certification may be a challenge, but it is the key to opening this door, giving Taiwan the opportunity to enter the Muslim market. According to the organizer's data, in addition to Taiwan, participating countries this year included South Korea, Japan, Indonesia, Australia, Hong Kong, and China, highlighting that the Muslim consumer market has become a new area actively being developed by beauty and biotechnology companies from various countries. (Editor: Liu Xiang-hua)