Indonesia and Pakistan should increase bilateral cooperation and research initiatives to take advantage of the benefits of the booming Halal cosmetics sector, which is quickly growing its share year after year and offering a plethora of investment opportunities with promising future growth prospects. Speaking during the International Conference on Islamic Economy and Halal Cosmetics hosted by the University of Faisalabad, Indonesian Ambassador to Pakistan Mr Adam M. Tugio remarked on this (TUF).
The popularity of Halal products, according to Ambassador Adam, is not just confined to Muslim nations; a wide range of non-Muslim consumers are also drawn to them by their high-quality standards and certification procedures, which are backed by a high level of consumer awareness of healthy and environmentally friendly goods. In contrast, Indonesia’s $4.19 billion halal cosmetics industry is anticipated to grow by nearly 8% annually until 2025 with a goal of becoming the halal industry centre in 2024, according to him. The global halal cosmetics market is projected to grow from $33.3 billion in 2021 to $77.34 billion by 2028 with a growth rate of 12.75 per cent between 2021 and 2028.
Indonesia-Pakistan must expand cooperation in this exclusive Halal industry since both countries are located in the Asia-Pacific region, Ambassador said. He also highlighted the Indonesian traditional herbal medicine known as Jammu and other natural remedy methods which are considered authentic natural ways to cure ailments and maintain beauty. TUF organized the Conference to expand the inter-professional approach to promote skincare and health products with the participation of 40 international specialists and 300 online participants from different countries.
