The global halal ingredients market is estimated to grow at high rate as consumption of food items is also increasing due to the surge in the Muslim population worldwide. Halal ingredients are also gaining traction in the healthcare and pharmaceutical industries due to the growing demand for dietary supplements and its health benefits. Consumers are witnessing an increasing demand for on-the-go, convenient, nutritionally enriched, and functional food & beverage products, due to their busy lifestyles. The growing trends of healthy snacking and increasing awareness about functional food & beverage products are also projected to drive the market for halal ingredients during the forecast period.
The food and beverages segment is estimated to dominate the global halal ingredients market. The food companies are focusing on product innovations and providing halal products to cater to the growing demand among consumers. In addition, companies are focusing on gaining consumer trust with several marketing campaigns and coming up with a wide variety of halal food products for consumers, which is positively stimulating the growth of the market.
The flavor segment is estimated to account for a larger share in the halal ingredients market. Flavors are intense preparations added to food products to stimulate or impart a particular taste, maintain the flavor after processing, modify an already existing flavor, and masking an undesirable flavor. The demand for flavors is attributed to the changing consumer preferences toward convenience foods and rising demand for consumer products. The increasing popularity of new and innovative flavors in convenience and ready-to-eat food products among the young generation is also driving the demand for halal-based flavors in the markets.
The Middle East is projected to be the fastest-growing regional market for halal ingredients. Favorable government regulations in GCC countries for halal food is driving the halal ingredients market. The growing population in the Middle Eastern countries is driving the overall halal food market. Global players are expanding their businesses in the Middle East to cater to the increasing demand for halal ingredients. In addition, 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 in the food & beverage and consumer product industries.
Key players include Koninklijke DSM N.V. (Netherlands), Cargill (US), Barentz B.V. (Netherlands), ADM (US), Kerry (Ireland), DowDupont (US), Solvay S.A. (Belgium), BASF (Germany), Symrise (Germany), Ashland (US), Purecircle Limited (Malaysia), and Halagel (Malaysia).
Key Questions Addressed by the Report
· What are the new trending products that halal ingredient companies are exploring?
· Which are the key players in the market and how intense is the competition?
· What are the upcoming growth trends that halal ingredients manufacturers are focusing on in the future?
· What are the high-growth opportunities in the halal ingredients market for each segment?
· What are the key growth strategies adopted by major market players in the halal ingredients market?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Non-Oic Countries are Increasingly Relying on the Halal Food Industry
3.1.2. The Increase in the Muslim Population is Contributing to Rise in Demand for Halal Food and Ingredients
3.2.1. Lack of Uniformity for Halal Standards in Different Countries
3.2.2. There are No Common Standards and Being Halal-Certified Does Not Guarantee Access to the Global Market
3.3.1. Unaddressed High-Potential Product Segments for Halal Ingredients
4. Executive Summary
5. Halal Ingredients Market, By Application
5.1. Food &Beverage
5.1.1. Convenience Food Products
5.1.2. Bakery Products
5.1.3. Beverage Products
5.1.4. Meat & Poultry Products
5.1.5. Confectionary Products
5.2.1. Skin Care
5.2.2. Hair Care
6. Halal Ingredients Market, By Ingredient Type
6.1. Ingredients for the Food & Beverage Industry
6.1.2. Hydrocolloids (Thickeners, Binders, Stabilizers)
6.1.9. Protein (Concentrates + Isolates)
6.2. Ingredients for the Pharmaceutical Industry
6.2.1. Active Pharma Ingredients
6.3. Ingredients for the Cosmetic Industry
6.3.1. Specialty Additives
6.3.2. Active Ingredients
7. Halal Ingredients Market, By Region
7.1. Asia Pacific
7.1.5. Rest of Asia Pacific
7.2. Middle East
7.2.1. GCC Countries
7.2.2. Rest of Middle East
7.3.1. North Africa
7.3.2. Rest of Africa
7.4.5. Rest of Europe
7.5.4. Rest of America
8. Company Profiles
8.1. Koninklijke Dsm N.V
8.2. Archer Daniels Midland
8.5. Solvay S.A.
8.6. Barentz International Bv
9. Conclusion and Recommendations