Local cosmetics sector can be launchpad to position Malaysia as innovation-led economy: Sirim chief tech officer
SHAH ALAM: The Malaysian cosmetics sector can serve as a launchpad to position the nation as an innovation-led economy, said Sirim Bhd chief technology officer Dr Muhammad Izzal Ismail.
He said Sirim also sees the cosmetics sector as offering low barriers to entry and high commercial potential, with the global market valued at US$380 billion (RM1.8 trillion) in 2024.
'Cosmetics is a massive industry in Malaysia with a big market value. A well-branded product prices can be RM250 to RM500 per set especially if it's marketed with international cues like Korean or celebrity endorsements,' he told reporters at the Business Linkages: Unlock New Horizons in Commercialisation event today.
Muhammad Izzal pointed out that many successful entrepreneurs in Malaysia have built their businesses in cosmetics.
'Cosmetics is a very tempting business in Malaysia, and I believe Sirim's cosmetics team is very solid and mature in supporting local brands to enter and compete in this space.'
He said Sirim is offering tax perks, ready-made biotech intellectual property protection and lab-to-market support for Malaysian businesses, including SMEs, to explore commercialisation opportunities.
'It is about bridging the gap between lab and market, making it easier for local businesses to scale science-backed, safe and sustainable products,' he added.
Through its commercialisation support, Muhammad Izzal said, Sirim is aligning with the national target of raising SME contribution to gross domestic product from 39.1% currently to 50% by 2030.
'As of 2024, Malaysia has achieved its highest position since 2016 in the Global Innovation Index, ranking 33rd out of 133 economies. Under the 12th Malaysia Plan, we are working to help the country break into the top 30 by 2025,' he added.
Muhammad Izzal said about 90% of the public still associates Sirim only with appliance safety testing.
'People don't know that Sirim's technologies extend beyond cosmetics into areas like vaccine development, artificial coral reef restoration, and semiconductor readiness. For example, our patented artificial coral reef technology can help regenerate fish populations in warming oceans – an innovation matured here at Sirim but still largely unknown to the public.'
He stressed that local businesses can use Sirim's existing infrastructure, equipment and scientific manpower rather than investing heavily in in-house research and development.
'Sirim offers chemical analysis, microbiological testing, heavy metal detection, allergen and irritation tests all in line with ISO certification. Our goal is to support companies in creating certified, safe, effective products without the cost burden of building their own labs, said Muhammad Izzal.
The event brought together cosmetic brands, mid-sized manufacturers and startups to explore licensing and co-development opportunities for Sirim's patented innovations. It showcased five innovations ready for market adoption with complete intellectual property protection and is available for immediate licensing through Sirim's flexible commercialisation programmes, including Nephelium lappaceum (rambutan) extract, postbiotic pineapple biomass microbiome friendly extract, kenaf seed oil, roselle extract and biodegradable microbeads.
Through its Life Sciences Centre, Sirim Industrial Research also provides support to licensees, offering not just the technologies themselves but also technical expertise, product development resources and market readiness guidance.
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