Global halal ingredients market is undergoing with a substantial CAGR of 6.50% in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. The factors responsible for this growth in the market value are increasing consumption of food & beverage and increasing awareness about the benefits of halal ingredients.
Key Market Competitors: Global Halal Ingredients Market
Few of the major competitors currently working in the global halal ingredients market are HALAGEL GROUP OF COMPANIES, BASF SE, Cargill, Incorporated, Solvay, Archer Daniels Midland Company, Koninklijke DSM N.V., Amara Cosmetics, Del Monte Philippines, Incorporated., Unilever Food Solutions, Tesco.com, and others, among others.
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Market Definition: Global Halal Ingredients Market
Halal ingredients are permissible to use as per the Islamic law, based on belief that Muslims should eat food and use goods such as cosmetics that are “”halalan toyibban””, which means permissible and wholesome. Halal ingredients are also used in variety of beauty products such as lipsticks, creams and soaps, as there is a large demand in cosmetic products that are made up of halal ingredients.
Increasing Muslim population worldwide drives the market for halal ingredients
Rising demand for safe and healthy products also lead to its market expansion
Increasing usage of halal ingredients in beauty and cosmetic products also drive the growth of the market
Rising dependency of Non-OIC countries on halal food industry will also act as a driver for such countries
Lack of uniformity in different countries for halal standards acts as a market restraint
High production cost will also hamper the market
Segmentation: Global Halal Ingredients Market
Convenience Food Products
Meat & Poultry Products
By Product Type
Personal Care Products
By Distribution Channels
By Ingredient Type
Ingredients for the Food & Beverage Industry
Hydrocolloids (Thickeners, Binders, Stabilizers)
Protein (Concentrates + Isolates)
Ingredients for the Pharmaceutical Industry
Active Pharma Ingredients
Ingredients for the Cosmetic Industry
Rest of South America
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Key Developments in the Market:
In January 2019, Croda International Plc announced its achievement of receiving Halal Certification for 15 biopolymer ingredients. Their Halal-compliant range consists of surfactants, emollients, fatty acids and alcohols, humectants, inorganic UV filters, lanolin and derivatives, rheology modifiers, gelling agents, specialty blends and bases, specialty cationic compounds, active ingredients as well as botanical extracts. This will help the company to expand their portfolio and will also meet the need and requirement of the customers.
In July 2018, Solvay announced the launch of their new naturally-sourced ingredient called Rhovanil US NAT, which is halal certified. These innovative products cater to the consumer demand for natural products and it also meets US natural flavor regulations. This product is of high-quality natural and functional vanillin-based solutions. Such innovative launch in the market of Halal ingredients leads to its expansion the forecasting future.
Competitive Analysis: Global Halal Ingredients Market
Global halal ingredients market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of halal ingredients market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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Key Insights in the report:
Competitive analysis of key competitors involved in the market
Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
Market drivers and restraints analysis along with the analysis of the market structure
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