Kuala Lumpur : Malaysia’s exports of beauty and cosmetic products for the first eight months this year totalled RM775.2 million, up 15.1% from the same period last year, said the Malaysia External Trade Development Corporation (Matrade).
“Despite the challenging economic environment, exports of beauty products still recorded double-digit growth for the past eight months.
“This shows that the sector is resilient to the economic scenario,” chief executive officer Datuk Dzulkifli Mahmud said after launching the Beautyexpo 2015 and Asia’s Esthetic & Skincare (AES) Exposition here today.
He said the main export markets were Singapore, Hong Kong and Japan, accounting for 36% of the country’s total exports of beauty and cosmetic products, adding that Middle East and South Asia are large potential markets for Malaysia’s halal-certified beauty products.
Although halal beauty and cosmetics products are fast becoming popular among Muslims around the world, he said the products are not just for Muslims only as the ‘halal’ concept places special emphasis on hygiene and safety aspects.
Dzulkifi said with the beauty industry’s huge revenue potential, it is time for Malaysia to boost its participation in this sector.