The Halal Ingredients Market Size That Wins Bsuiness Demand in 2020

Fortune Business Insights offers a detailed overview of the global market in a report, titled "Halal Ingredients Market Size, Share and Global Trend by End-users (Food Industry, Beverage Industry, Cosmetic Industry, Pharmaceutical Industry) and Geography Forecast till 2026." The report is a detailed study of the market with the main focus on market trends. It aims to offer a comprehensive overview of the market segmentation by end-user, geography, and others.

The rapidly growing Muslim population across the world is driving the global halal ingredients market. As per the Pew Research, the Muslim population is expected to reach 2.1% of the total population by 2050. In 2010, the Muslim population was 0.9% of the total world population. Rising eco-ethical population across the world and acceptance of halal products are contributing to the positive growth of the market.

Top Key Players Covered:

o Burger King Corporation
o Tesco Stores
o Unilever
o Symrise AG
o Amara Cosmetics
o Nestle Private Limited
o Shiseido Co., Ltd.
o Del Monte Phil's Inc.
o BRF SA
o Lush Retail Limited

The market has gained significant attention owing to the changes in consumer preferences for halal products. In addition to this, the adoption of halal ingredients is increasing across pharmaceuticals and healthcare industries owing to the rising demand for dietary supplements.

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Owing to busy lifestyle, people prefer food on to go and functional products which are enriched with nutrition. The increasing trend of healthy snacking is expected to stimulate halal ingredients market growth.

It also provides an in-depth analysis of drivers, restraints, opportunities, and threats to know the market status in the food and beverages industry. The report offers information on the competitive landscape by highlighting information on the key players and their respective strategies.

Food Industry to Exhibit the Highest Demand for Halal Ingredients

The demand for halal ingredients is increasing across food, beverage, pharmaceutical, and cosmetic industry. Of these, the food industry is expected to account for the major part of the halal ingredient market share during the forecast period. The growth is attributable to the rising demand as well as consumption of halal food and its products among Muslims and non-Muslim community. Manufacturers are increasingly producing halal processed food. This, coupled with the proliferating consumption of halal food products, is expected to give significant impetus to the growth of the market.

Dominance of Muslim Population to Boost the Market in Asia Pacific

Among regions, the halal ingredients market in Asia Pacific is expected to register the maximum growth between 2018 and 2026. This is attributable to the presence of strong accreditation regulatory bodies, offering lucrative growth opportunities for the market. Large Muslim population present in countries such as Pakistan, Malaysia, Indonesia, India, and Bangladesh is another factor responsible for the high demand for halal ingredients.

The market in North America and Europe is expected to grow considerably owing to the increasing global population. This, in turn, leads to an increase in Muslim community across these two regions, thereby propelling growth in the market.

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Major Segmentation includes:

By End-users

o Food Industry
o Beverage Industry
o Cosmetic Industry
o Pharmaceutical Industry

By Geography

Al-Hur Beauty Launched a Halal Cosmetic Brand to Expand its Cosmetic Product Portfolio

The report profiles some of the leading players functioning in the global halal ingredient market. Some of the key players include:

Earlier, halal only belonged to the Islamic community, however now halal is accepted universally. Moreover, some people consider halal as one of the best healthy, clean, and fresh food products. This, in turn, is expected to increase the halal ingredient market demand through the forecast years. Companies are also putting efforts to develop new halal ingredients in order to establish their presence in the market. Some of the developments are mentioned below:

September 2018: A famous UAE brand called Al-Hur Beauty announced the launch of natural cosmetic products in Malaysia. The company meets all the standards for halal certification and aims to focus on expanding its product portfolio

December 2018: A well-renowned meat alternative provider in the U.S. called Impossible Foods received halal certification from the Islamic Food and Nutrition Council of America or IFANCA. The company aims to make plant-based meat products for everyone in the world.

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