Philippines to Develop its Halal Cosmetics Market

Philippines is looking to boost its halal industry, and has introduced various new bills to encourage the manufacture, accreditation and trade of domestically produced halal products, including halal cosmetics.

The Philippine’s Halal Export Development and Promotion Act of 2015 has just been passed by both Houses of The Philippines Congress on February 1st 2016. This Act along with other bills which cover beauty and personal care, medicines and meat products looks to set up clear, efficient guidelines and regulatory bodies to administrate and regulate the halal industry within Philippines.

“Without a halal export legal framework in place, our products become susceptible to doubts from receiving countries. Some ‘fly-by-night’ certifying bodies may issue certification without duly inspecting the goods,” staed Philippines Senator Cynthia A. Villar. “But now people will see standardized recognition and accreditation procedures come into play, along with the introduction of Philippine Halal Export Development and Promotion Program, Philippine Export Development and Promotion Board, and Philippine Halal Accreditation, Development and Promotion Board.

According to Future Market Insights, the CAGR of halal cosmetics will be 9.9% through to 2020 and the valuation of halal cosmetics in Asia will reach 2.47 billion US dollars. The Philippines is the latest in this region to turn its attention to the rising halal market, following other non-Muslim majority countries such as Thailand, Australia and New Zealand. The Director of the Philippines Department of Trade and Industry said that the halal market in Philippines is lagging, but the new bills will help to foster rapid growth and development and make the Philippines competitive globally.