While the “cosmetic” and “Halal” combination is not something familiar and obvious to many, in the world of present and future entrepreneurship this pairing represents a winning opportunity, which cannot be ignored when you are interested in a successful business.
But let’s hear the data: GlobeNewswire, the Nasdaq’s major press release subsidiary, reports that the value of the Halal cosmetic market currently stands at around $26 billion, with growth estimated to increase its value by 2029 to more than $86 billion.
If, in addition to the birth rate, we also consider the increase in accessions to Islam, the number is destined to grow exponentially at unimaginable rate, taking into account that islàm is now the religion with the highest rate of growth, considering the estimates that count it as the most widespread religion in the world by 2070. (https://www.corriere.it/esteri/17_marzo_02/islam-prima-religione-2070-40-anni-crescita-73percento-e83936e8-ff1d-11e6-9d9a-77b6de6db49f.shtml)
In this scenario, Halal certification is a part of an opportunity to penetrate a market destined to grow exponentially in the near future, as consumers expand the demand for Halal guaranteed products in a safe and controlled way.
However, what poses a threat to anyone who wants to launch into this new and promising business is inexperience, which is leveraged by unreliable entities that, attracted by the easy money that can be made by selling a fictitious certification, tend to deceive entrepreneurs who wish to discover this market and all its potential, limiting their concrete possibilities for expansion with unrecognized certificates and of little or doubtful validity.
In the face of this phenomenon, WHA believes it is essential to warn companies of potential dangers, providing them with all the tools they need to be able to assess the reliability of the partner with whom they intend to collaborate.
To avoid getting caught up in the chatter of Wikipedia, one needs to pay attention to these simple yet cumbersome rules of thumb that a certification body must observe to issue a valid and market-recognized certification:
Having accreditations and recognitions with reputable accreditation body, regulators or government agencies.
Many certification bodies mislead the industry by portraying the recognitions and access to markets that they do not actually have. Some certifiers collaborate with other certifiers to present them to manufacturers as recognised and accredited for given markets anticipating business opportunities. This manoeuvre poses a significant risk to the recognition of the collaborator, thier clientele, thier brand reputation and the existence of the misleading certifier who could also lose industry confidence in return.
– Having technically sound evaluation process of certification
This involves conducting an evaluation process encompassing comprehensive documentation review and audit of production facility.
Halal certification on a technical level must comprise quality and product certification, It requires robust scrutiny and analytical reports, without which it is not possible to concludethe suitability of the products according to applicable halal standards.
This is followed byca review of the analysis and scrutiny, through a certification committee that examines the auditor’s report and evaluates its compliance with the applicable standards and criteria.
Without this step, there is no evidence that the results of the evaluation process comply with the existing technical standards applied by the accreditation bodies.
In this sector, many institutions try to charm entrepreneurs by promising zero-time certifications, with derisory costs and without any control mechanism in place, all presenting the resulting certification as perfectly valid in every corner of the globe.
If you are interested in a Halal certification that can concretely give you the possibility of penetration into this booming market, do not settle for appearance, always ask your certification body for account regarding the following information:
– Accreditations: can be proven through specific documents and verifiable listing on the websites of accreditation bodies
– Technical process: based on halal reference standards, which must necessarily include a documentary analysis and audit of production sites
– Transparency: it is not only an ethical and moral expectation, but also a duty and responsibility towards your stakeholders.
In Europe there are very few certification bodies adequately accredited for the cosmetic sector. For international expansion allowing to penetrate the richest and most demanding Halal markets, such as Gulf countries and Southeast Asia, WHA as a reliable and accredited partner can guarantee your presence beyong borders, both in terms of consumers and distributors.
If you are part of a company that is considering expanding its business in the Halal market, speak to our experts today.