Market Analysis: Global Halal Ingredients Market
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.
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
- Food &Beverage
- Convenience Food Products
- Bakery Products
- Beverage Products
- Meat & Poultry Products
- Confectionary Products
- Skin Care
- Hair Care
By Product Type
- Personal Care Products
- Skin Care
- Hair Care
- Color Cosmetics
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
- Specialty Additives
- Active Ingredients
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of 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.
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.
Research Methodology: Global Halal Ingredients Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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