The Muslim market presents significant opportunities for cosmetics and fashion brands, according to management consultancy firm A.T. Kearney. "At a time when many other large consumer segments are reaching a saturation point, Muslims are a new outlet from which to build a box for future growth," reads the A.T. Kearney report entitled Addressing the Muslim Market: Can You Afford Not To?
Muslims make up an estimated 20% of the world's population and increasing consumer affluence and Western influence means this consumer base is growing increasingly strong. "Since Muslims are the fastest growing consumer segment in the world, any company that is not considering how to serve them is missing a significant opportunity to affect both its top- and bottom-line growth," the report reads.
A number of cosmetics companies are beginning to tap into this significant market, releasing halal certified products that contain no animal ingredients and are not tested on animals. Colgate-Palmolive has a number of toothpaste products that are certified halal and Australian firm Almaas produces halal cosmetics such as mascaras and eye shadows. The Body Shop, although not certified halal, is an example of a successful retailer in the Middle East having taken a strong stance against animal testing and using a number of natural ingredients in their products. The success of the UK-based retailer in this market illustrates that clever marketing strategies may be as important as offering certified halal ranges.
excerpted from "Cosmetics companies could benefit from targeting Muslim market" - March 2008 - cosmeticsdesign.com
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