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Halal ingredients market has scaled up significantly in recent years due to changing consumer preferences and rising population of eco-ethical population, who have embraced halal products and contributing to their positive growth. Halal ingredients are used widely across food & beverage as well as the cosmetics industry due to their high consumer demand. Food products manufactured with halal ingredients are believed to be healthier and halal cosmetics products are considered safe as they prohibit the use of certain substances.
Several key market players operating in the global halal ingredients market are centering on developing unique ingredients that can be used to produce high-quality products. Obtaining halal certification from authentic regulatory bodies is another major focus of key players operating in the global halal ingredients market.
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Halal ingredients are those that are permissible according to Islamic laws to get utilized in the production of a range of products. Earlier, halal was a concept only meant for people belonging to the Islamic community, but with a change in time halal has become a universal concept. In recent times, halal products have even become a synonym of healthy, fresh, and clean products, which is helping in uplifting their market demand.
Rising consumption of products manufactured by using halal ingredients across the globe is projected to fuel the growth of the market during the forecast period. Rapidly growing Muslim population across the globe is another major factor that is expected to propel the growth of halal ingredients market. For instance, according to the Pew Research Center, in the United States, the population of Muslims is projected to double from 0.9% of the population in 2010 to 2.1% by the year 2050.
The high production cost of halal products due to the high cost of certain halal ingredients can hinder the growth of the market during the forecast period. Furthermore, misconceptions associated with halal products can also hinder the growth of the market during the forecast period.
Some of the key companies that are present in the global halal ingredients market include Tesco Stores, Burger King Corporation, Unilever, Nestle Private Limited, Symrise AG, Amara Cosmetics, Shiseido Co., Ltd., Lush Retail Limited, BRF SA, and Del Monte Phil’s Inc.
· Food Industry
· Beverage Industry
· Cosmetic Industry
· Pharmaceutical Industry
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
By end-users, halal ingredients market has been segmented into the food industry, beverage industry, cosmetics industry, and pharmaceutical industry. The food industry is anticipated to hold the major market share in the global halal ingredients market during the forecast period, owing to increased demand and consumption of halal food by Muslim as well as non-muslim population across the globe. Production of halal processed food by manufacturers and their intensifying consumption is expected to further boost the growth of halal ingredients market during the forecast period.
The Asia Pacific, followed by the Middle East is projected to hold the major market share in the global halal ingredients market, owing to rising halal ingredient certification in the region. Presence of large Muslim population across prominent Asian countries such as Pakistan, India, Malaysia, Bangladesh, and Indonesia is a significant reason for the growth of halal ingredients market of the region. With the rising adoption of halal ingredients to produce halal products in Europe and North America market, attributed by the rising global population, hence escalating Muslim community across the regions, is projected to further propel the growth of the market during the forecast period.
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