KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) projects the export of cosmetic products under the lifestyle industry for both men and women to grow faster on booming demand.
Chief executive officer Dr Mohd Shahreen Zainooreen Madros said beauty and cosmetics products are no longer exclusively for women, with more men paying special interest in their personal appearance, thus expanding the target market.
Last year, cosmetics was among the top five Malaysian exports under the lifestyle industry at RM1.25 billion.
“Between 2011 and 2016 the total export value was RM12 billion,” he said after opening the Product Development Workshop, organised by Matrade and the Asean-Korea Centre here.
Banking on demand, Mohd Shahreen said soon, Malaysia would tap the halal segment which offers a bigger market.
Halal beauty and cosmetics products are fast gaining popularity among Muslims globally.
“However, the halal products are not limited to just Muslims, but also others, as the concept places special emphasis on hygiene and safety during the manufacturing process,” he added. — Bernama