Halal Ingredients - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Halal Ingredients market is accounted for $40.17 billion in 2017 and is expected to reach $77.47 billion by 2026 growing at a CAGR of 7.6% during the forecast period. Healthy snacking and increasing awareness about functional food & beverage products are some of the factors boosting the growth of the market. However, the lack of consistency for Halal Standards is restraining the growth of the market.
Halal ingredients are vegetable, plants, fish, halal animal’s meat when the animal is slaughtered according to sharia rules, and chemical origin without alcohol. Halal ingredients are being used in beauty products as there is a huge demand in cosmetic products that are made up of halal ingredients.
Based on the End User, the pharmaceutical segment is expected to be the top-growing segment in the halal ingredients market. The rising frequency of chronic diseases and lifestyle and age-related diseases have led to a rush in demand for ingredients used in the pharmaceutical sector. By Geography, the Middle East is a major region in the halal ingredients market, which is anticipated to be the fastest-growing regional market. Approving government regulations in the GCC countries for halal foods are endorsed to the growth in the halal ingredients market. The rapid economic growth, as a result of the stable political environment in countries such as Saudi Arabia, Iran, and the UAE, is contributing to the growth of the food & beverage and consumer product industries.
Some of the key players profiled in the Halal Ingredients Market include Unilever, Tesco Store, Symrise (Germany), Solvay S.A. (Belgium) , Shiseido Co., Ltd., Purecircle Limited (Malaysia), Nestle Pvt. Ltd, MAKE-UP ART COSMETICS, Lush Retail Ltd., L’Oreal , Koninklijke DSM N.V. (Netherlands), Kerry (Ireland) , Halagel (Malaysia), DowDupont (US), Del Monte Phil’s., Inc., Cargill (US), Burger King Corporation , Beiersdorf, BASF (Germany), and Barentz B.V. (Netherlands).
Ingredient Types Covered:
• Ingredients for the Pharmaceutical Industry
• Ingredients for the Cosmetic Industry
• Ingredients for the Food & Beverage Industry
End Users Covered:
• Beverage Industry
• Cosmetic industry
• Pharmaceutical industry
• Food industry
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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