Asia Pacific Halal Ingredients Market

Asia Pacific Halal Ingredients Market Growth Analysis Report 2022 - 2027:

Asia Pacific Halal Ingredients Market is expected to experience moderate growth to record a CAGR of 5.5% throughout the forecast period 2022 - 2027. It is an ingredient whose use is authorized in accordance with Islamic law. It can be designated for food, drinks and other matters of daily life. The common elements of the halal ingredient are halal vegetables, plants, fish, and animal meat when it is butchered as per the Sharia rules, and the chemical origin does not contain alcohol. Halal ingredients are used in beauty products because there is a high demand for cosmetic products made with halal ingredients. Scientists review products like lipsticks, creams, and soaps to make sure these products contain halal ingredients. People around the world, including non-Muslims, prefer food and drinks to be certified halal ingredients because they are safe and healthy. A one-of-a-kind law that stipulates the food must be labeled halal or not as of 2017

Asia Pacific Halal Ingredients Market Drivers and Restraints:

The other religious dynamics responsible for the significant increase in the Muslim population in the Asia Pacific are the spiritual shift to Islam and the migration of predominantly Muslim nations to other regions. With the rise in the number of Muslims, the demand for this type of food has also increased, and this trend is expected to continue during the forecast period and stimulate the Asia-Pacific market. The need for halal ingredients continues to grow, with the increase in the Muslim population worldwide. All the products needed and consumed by Muslim consumers in their lives are halal. They mainly pay attention to the halal certificate when they buy food, drinks and cosmetics. In fact, Muslim consumers prefer halal products because they associate halal with ethical consumerism. Due to this need and concern, the market for Asia Pacific halal ingredients is growing at the same rate as the growth of Muslim populations. Support religious obligations and preserve halal identity not only for meat products but also to gradually expand capacities to cover the services involved in halal meat and meat products.

In fact, the concept of halal meat is no longer limited to food products because it also includes the idea of storage, handling, packaging, transportation, and delivery processes. Lack of commonly accepted standards among global certification bodies has resulted in duplication of certificates, adding to the high cost and complexity.

Recent Happenings in Asia Pacific Halal Ingredients Industry:

1. In January 2019, Croda International Plc announced that it had obtained Halal certification for 15 biopolymer ingredients. Its Halal compatible range includes surfactants, emollients, fatty acids and alcohols, humectants, inorganic UV filters, lanolin and derivatives, rheology modifiers, gelling agents, special mixtures and bases, unique cationic compounds, active ingredients and botanical extracts. This will assist the organization in expanding its portfolio and also to meet the needs and requirements of customers.
2. In July 2018, Solvay announced the launch of its new naturally derived ingredient called Rhovanil US NAT, which is certified as halal. These products meet consumer need for natural products and also comply with US regulations on natural flavors. This product consists of natural and functional solutions based on high-quality vanillin. Such an innovative launch in the halal ingredients market leads to its expansion in the forecasting future.
3. In March 2019, Archer Daniels Midland (ADM) Company introduced advanced organic flours. The new range of organic flours includes all-purpose organic flour and premium organic bread flour. The products will be added to the complementary range of organic and cereal-based products.
4. In September 2018, UAE beauty brand Al-Hur Beauty was launched in Malaysia, pledging to provide Muslim consumers with safe and reliable natural cosmetics that meet international halal certification standards. The brand was launched with great fanfare in Kuala Lumpur at KL Gateway. Al-Hur Beauty is currently available through five resellers, independent sellers, and its own in-house sales team.
5. In December 2018, Impossible Foods, a leading provider of meat substitutes based in the United States, received halal certification from IFANCA (Islamic Food and Nutrition Council of America).
6. In January 2017, BRF, the Brazilian meat packaging giant, launched OneFood in Dubai. One Food is the new BRF subsidiary that owns all of BRF's assets associated with halal meat production.
7. In January 2018, The DSM Personal Care & Aroma Ingredients division, a leading provider for the personal care, home care and fine fragrance announced the audits of its At Vouvry and Aesch.
8. In March 2016, BASF obtained halal certification for many personal care ingredients. The 145 personal care and home care ingredients manufactured on the company's site in Düsseldorf and Illertissen now comply with the international halal HAS 23000 standard.

Indonesia is one of the leading countries in the Asia Pacific Region:

The Market for Asia Pacific Halal Ingredients has been categorized on the basis of geography to understand this regional market clearly. The local market has been primarily divided into China, Taiwan, Indonesia, South Korea, Australia, India, New Zealand, Japan, and the rest of the APAC.

Indonesia has the largest population of the Muslim community in the world and spent a total of USD 218.8 billion on the Islamic economy in 2017. Suppliers operating in the ICCA market are certified by halal certification organizations and these organizations operate in accordance with sharia (rules and principles that a Muslim should follow). Indonesia is one of the leading countries in the Asia Pacific region that has the highest retail value for soft drinks with the halal label. The government has imposed a new certification with BPJPH to provide convenience, security, and certainty of the availability of halal products to the public and to increase the added value for commercial operations in the production and sale of halal Ingredients.

Asia Pacific Halal Ingredients Market Detailed Segment and Sub Segment Analysis:

By Type:

• Ingredients for the Food & Beverages industry
• Ingredients for the pharmaceutical industry
• Ingredients for the cosmetic industry

By Application:

• Pharmaceuticals
• Food & beverages
• Cosmetics

By type, the market comprises ingredients for the cosmetics industry, ingredients for the pharmaceutical industry, and ingredients for the food & beverage industry. 

By application, the market is divided into cosmetics, pharmaceuticals, and food & beverages. The food and beverage industry is supposed to have the largest share in the market for halal ingredients during the outlook period due to increased demand and consumption of halal food by the Muslim population and non-Muslim women worldwide. Production by halal processed food manufacturers and increased consumption are anticipated to further fuel growth in the global halal ingredient market during the calculated period.

Impact of COVID-19 on Asia Pacific Halal Ingredients Market:

The Covid-19 pandemic had a great impact on the global food sector, along with the associated industries. Halal ingredients market was also suffered during this period with the lockdown of countries and the shutdown of manufacturing units. However, in the coming years, the increasing consumer preference for healthy food products is likely to create immense opportunities for players in this industry.

Leading Company:

Tesco Stores had a substantial share of the Asia Pacific Halal Ingredients Market in terms of sales and revenue in 2017.

Top Major Leading Competitor’s Share Analysed in Asia Pacific Halal Ingredients Market report are:

1. Del Monte Phil’s Inc
2. Tesco Stores
3. BRF SA
4. Lush Retail Limited, Ltd.
5. Shiseido Co
6. Amara Cosmetics
7. Symrise AG
8. Nestle Private Limited
9. Unilever
10. Burger King Corporation