According to a new market report published by Lucintel, the future of the halal ingredient market looks promising with opportunities in food & beverages, pharmaceuticals, and cosmetics. The global halal ingredient market is expected to grow with a CAGR of 6% from 2020 to 2025. The major drivers for this market are increasing muslim population worldwide, rising demand for safe and healthy products, increasing usage of halal ingredients in beauty and cosmetic products, and rising dependency of non-OIC countries on the halal food industry.
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Halal products are those that act in accordance with the religious rites and observe Sharia law. This means that these products do not contain any pork, alcohol, blood, carnivorous animals or animals that were dead before slaughter. In this market, ingredients for the food & beverage industry (flavors, hydrocolloids, starches, sweeteners, acidulants, emulsifiers, and others), ingredients for the pharmaceutical industry, and ingredients for the cosmetics industry are the major types of halal ingredient. Lucintel forecasts that ingredients for food & beverage industry will remain the largest type segment over the forecast period due to the health benefits and cleanliness associated with halal-certified foods and the growing standardization in the halal certification sector.
Within this market, food & beverages will remain the largest application segment over the forecast period due to growing popularity of new and innovative flavorsand ready-to-eat food products among the young generation. These factors are also driving the need for halal-based flavors in the industry.
Asia Pacific will remain the largest region over the forecast period due to substantial increase in muslim population from past decades.
Koninklijke DSM, Cargill, Barentz, ADM, Kerry, DowDupont, Solvay, BASF, Symrise, and Ashland are among the major suppliers in the global halal ingredient market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global halal ingredient market by type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Halal Ingredient Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global halal ingredient market by type, application, and region as follows:
By Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Ingredients for Food & Beverage Industry
Flavors
Hydrocolloids
Starches
Sweeteners
Acidulants
Emulsifiers
Other
Ingredients for Pharmaceutical Industry
Ingredients for Cosmetics Industry
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food & Beverage
Pharmaceuticals
Cosmetics
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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