According to the current analysis of Reports and Data, the Global Halal Ingredients Market was valued at USD 49.39 Billion in 2020 and expected to reach USD 73.93 Billion by the year 2028, at a CAGR of 6.2%. Halal food refers to the food products that are prepared by following Islamic dietary laws & regulations, which defines foods that are lawful or permissible and clean. Muslims community consumers avoid food & beverages that are Haram, meaning forbidden or unlawful by their Islamic faith. The Intake of food items is also rising due to the surge in the Muslim population worldwide, which expected to drive the growth of the market. This ingredient are also getting traction in the healthcare and pharmaceutical industries due to the escalating demand for dietary supplements and their health gains. Customers are witnessing a growing demand for on-the-go, convenient, nutritionally enriched, and functional food & beverage products due to their busy lifestyles. The soaring trends of healthy snacking and increasing consciousness about functional food & beverage products expected to plunge the industry during the expected period.
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Some of the Leading Market Players Are Listed Below:
- Koninklijke DSM N.V. (Netherlands),
- Cargill (US),
- Barentz B.V. (Netherlands),
- Ashland (US),
- ADM (US),
- Kerry (Ireland),
- DowDupont (US),
- Others
The need for halal cosmetic products among the 2.4 billion Muslim customers globally is increasing. However, the demand in cosmetics stays unmet because cosmetics production is controlled by non-halal cosmetic manufacturers, whose manufacture methods may not fit in with the requirements of its science. The development of these cosmetics and the assessment of their product performance is still in its early stages. The incorporation of its science in the manufacture of most cosmetic products remains insufficient.
Moreover, there is a global deficiency of guiding documents on the growth and assessment techniques in the production of comprehensively halal cosmetics. It aims to abridge existing literature and knowledge of halal and cosmetic science to provide essential technical guidance in the production of these cosmetics. Also, the adoption of these methods addresses the unique ethical issues associated with the conformance of cosmetics’ product performance to spiritual practices and its science.
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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Market Segmentation:
Ingredient Type (Revenue, USD Million; 2018–2028)
- Ingredient for F & B Industry
- Flavors
- Hydrocolloids
- Starches
- Sweeteners
- Others
- Ingredient for Pharmaceutical Industry
- Active Pharma Ingredients
- Excipients
- Ingredient for Cosmetic Industry
- Specialty Additives
- Active Ingredients
- Others
Application (Revenue, USD Million; 2018–2028)
- Food &Beverage
- Convenience Food Products
- Bakery Products
- Others
- Cosmetics
- Skin Care
- Hair Care
- Others
- Pharmaceuticals
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Halal Ingredients market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Halal Ingredients market.
The global Halal Ingredients market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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The post Halal Ingredients Market 2022-2028: Rise In The Populace Of Muslims Stimulates The Demand For This Food, Which In Turn Improves The Growth Of The Market appeared first on Market O Graphics.
