[Finance] Seizing Halal Beauty Market Opportunities: Taiwan's MIT Brands Target ASEAN Muslim Market

The global Muslim population of 2 billion people is driving the rapid growth of the halal beauty market. Malaysia, as a hub for the halal industry, has become an important base for Taiwanese beauty and biotech companies to expand into the ASEAN and Middle Eastern Muslim markets, leveraging its mature certification system and industrial advantages. 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 halal concept 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, comprising over 40 beauty and biotech 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 features of Taiwanese beauty and biotech products, the response at the scene was enthusiastic, with many Muslims showing great interest in MIT products that have obtained halal certification. Wang Yin-po, Secretary-General of the Taiwan Cleaning Industry 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 biotech 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 location serves as a springboard for entering the ASEAN market and can connect with 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 noted that the Southeast Asian market accounts for about a quarter of the global beauty industry's business opportunities, making it highly attractive to companies looking to expand into the regional market. However, to successfully enter the Southeast Asian Muslim market, obtaining halal certification is almost a prerequisite. 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 biotech 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 organizers, in addition to Taiwan, participating countries this year included South Korea, Japan, Indonesia, Australia, Hong Kong, and China, highlighting the Muslim consumer market as a new area actively being developed by beauty and biotech companies from various countries. (Editor: Liu Xiang-hua)