Halal Ingredients Market size was valued at USD 45.7 Billion in 2020 and is expected to reach USD 64.8 Billion by 2026 at a CAGR of about 6%. Due to the increasing need for dietary supplements and their health benefits, halal ingredients are finding applications in industries like healthcare and pharmaceutical. Because of the busy lifestyles, consumers are witnessing a growing demand for on-the-go, convenient, nutritionally enriched and functional food and beverage products. The increasing trends of healthy snacking and growing awareness of functional food & beverage products further drive the world market.
Halal ingredients are allowed to be used in accordance with Islamic law, based on the belief that Muslims should eat food and use "halalan toyibban" cosmetics, which means permissible and healthy. Halal ingredients are also used in a variety of beauty products such as lipsticks, creams, and soaps, as there is a high demand for such components in cosmetic products.
Drivers and market limitations:
Increasing the Muslim population worldwide has been instrumental in driving the market for halal ingredients. The rising need for safe and healthy products further supports market expansion. Increasing usage of halal ingredients in beauty and cosmetic products and growing dependency for Non-OIC countries on the halal food industry have also contributed significantly towards the growth of the Halal Ingredients Market.
However, the lack of uniformity in halal standards in different countries and a high production cost work as restraints for the Global Halal Ingredients Market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 – 2026 |
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Base Year |
2020 |
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Forecast Period |
2021 - 2026 |
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CAGR |
6% |
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Segments Covered |
By Type, By Application, and By Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
BASF SE, Cargill, Halagel Group of Companies, Solvay, Koninklijke DSM N.V, Archer Daniels Midland Company, Amara Cosmetics, Del Monte Philippines Inc, Unilever Food Solutions, and Tesco |
Halal Ingredients Market Segmentation:
By Type
By Application
Market Segmentation Insights:
Through use, in 2018, the food & drink segment dominated the market for halal ingredients in terms of value. Food companies concentrate on food technologies to offer halal goods to satisfy increasing consumer demand. Furthermore, companies focus on gaining consumer confidence through multiple marketing campaigns and developing a wide variety of food products for consumers, which stimulates market growth positively. Also driving the halal ingredients market in the food industry is the health benefits and cleanliness associated with halal-certified foods. Increasing standardization in the sector is projected to offer growth opportunities in the food and beverage industry to the halal ingredient manufacturers.
By type, the segment of flavors is estimated to account for a larger share by the end of 2019 for halal ingredients. Flavors are added to food products to stimulate or convey a particular taste, maintain the character after processing, modify an existing flavor and mask an unwanted aftertaste. Flavor demand is due to growing consumer preferences for convenience foods and increasing consumer product demand. Also driving the market demand for halal-based flavors is the growing popularity of new and innovative flavors in ready-to-eat food items among the young generation. Due to the increasing demand, which is expected to generate competitive prospects for manufacturers on the market for halal ingredients, the majority of flavor firms are inclined to receive halal certification.
Geographical Segmentation of the Halal Ingredients Market:
Halal Ingredients Market is geographically divided into, North America (United States, Canada), Latin America (Brazil, Argentina, Mexico), Europe (United Kingdom, France, Germany, Spain, Italy), Middle East and Africa (Saudi Arabia, United Arab Emirates, Lebanon, Jordan, Cyprus), Asia Pacific (China, India, Japan, South America, Australia, New Zealand, and Southeast Asia).
Regional Share Insights:
In 2019, the Middle East was the fastest-growing regional market for halal ingredients. Favorable government regulations in GCC countries drive halal nutrition. Global players in the Middle East are increasing their businesses to satisfy the expanding demand for halal ingredients. However, rapid economic growth is leading to growth in the food & drink and consumer product industries as a result of the stable political climate in countries like Saudi Arabia, Iran, and the UAE. Likewise, the growing population and increase in the region's disposable income are factors driving demand for products made with halal ingredients, which in turn is expected to drive the global market.
Halal Ingredients Market Key Market Players:
Research Methodology:
Market research involves studying market trends, growth patterns, and understanding the influence of variables like macro and microeconomic conditions, geopolitical and demographic conditions on the market value and market dynamics.
The research methodology used to calculate and forecast the Halal Ingredients market began by collecting information on the market key player's sales using multiple sources via secondary research. In order to identify market segmentation, supplier offers have been considered.
Recent Developments:
Halal Ingredients Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Ingredients For the Food & Beverages Industry
5.1.3 Ingredients for the Pharmaceutical Industry
5.1.4 Ingredients for the Cosmetic Industry
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2 Application
5.2.1 Introduction
5.2.2 Pharmaceuticals
5.2.3 Food & Beverages
5.2.4 Cosmetics
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 BASF SE
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Cargill
8.3 Halagel Group of Companies
8.4 Solvay
8.5 Koninklijke DSM N.V.
8.6 Archer Daniels Midland Company
8.7 Amara Cosmetics
8.8 Del Monte Philippines Inc.
8.9 Unilever Food Solutions
8.10 Tesco
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
