Halal Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Halal Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : May, 2020 | Food and Beverages | PPT format

Report Digest


Global Halal Ingredients Market: Overview

Growing Muslim population who adopt Islamic dietary guidelines is a key factor driving the evolution of the halal ingredients market over the period of assessment (2018–2028). Halal ingredients and halal products are becoming increasingly popular amongst the non-Muslim populations as well, thereby opening new avenues in the global halal ingredient market.

According to Pew Research Center, a leading fact tank based out of Washington DC, Muslim population is anticipated to expand by a whopping 70% in the coming decades, from 1.8 bn in the year 2015 to 3 billion by 2060.

The global halal ingredients market is segmented on the basis of type, application, and region.

Global Halal Ingredients Market: Notable Developments

The dynamics of the global halal ingredients market is impacted by the following important moves:

  • In 2018, AL-Hur,UAE-based manufacturer of halal beauty products has launched its line of cosmetics in Malaysia. Their range of cosmetics is considered reliable, safe, and comes with international halal certification.
  • In 2017, Barentz International B.V. made an acquisition of Finland-based Leipurin Oyj’s meat unit.In all likelihood, the deal is poised to expand the meat ingredients’ portfolio of Barentz International. It will further reinforce its position and expand the market share of the company in the Nordic region.

Some of the most prominent competitors operating in the competitive landscape of global halal ingredients market include –

  • Archer Daniels Midland
  • AL-Hur
  • Barentz International B.V.
  • Koninklijke DSM N.V.
  • Purecircle Limited 

Global Halal Ingredients Market: Growth Drivers

Health Benefits Offered by Halal Products Generate Market Demand

Large portion of theshares of the global halal ingredients market has beencommanded by the food and beverages industry in the last few years. The demand for halal ingredients is likely to continue with the same dominance in future as well.

 Advocates of halal food believe that halal meat is healthier than the non-halal meat and also more humane. This particularly stems from the practice of draining all the blood from the animal once the jugular vein is cut. As the entire blood is drained out, it takes away all types of toxic substances with it. Uric acid is one of the components of blood, which can prove to be extremely damaging, if consumed by humans.

Halal ingredients are also increasingly been used in flavoring agents. Rising demand for new flavors is another factor that is propelling the global halal ingredients market over the period of stipulation. The growing demand for flavors is primarily driven by the ever-evolving preferences of consumers, which now is tilted toward convenience food. Therefore, several food companies seek halal certificates to cater to the growing demand for halal food products and expand business opportunities.

Global Halal Ingredients Market: Regional Outlook

On the basis of geography, the global halal ingredients market is analyzed across North America, South America, Middle East and Africa, Europe, and Asia Pacific. The Middle East and Africa is likely to be the one of the rapidly growing regions during the assessment period. The regional market has seen rapid strides on the back of the efforts of the United Arab Emirates to globalize halal industry. Numerous Arab countries have recently agreed on new framework for the mutual recognition of halal certificates.

Further, rapidly growing disposable incomes of people in Iran, the UAE, and Saudi Arabia is driving the food and beverage industry in the region. This is adding impetus to the halal ingredients market.

The global halal ingredients market is segmented as:

Type

  • Ingredients for Food & Beverage Industry
  • Ingredients for Pharmaceutical Industry
  • Ingredients for Cosmetics Industry

Application

  • Food & Beverage
  • Pharmaceuticals
  • Cosmetics

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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