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Halal Ingredients Market Boom in Near Future!

The halal ingredients market, in terms of value, is estimated to account for USD 45.7 billion in 2019 and is projected to grow at a CAGR of 6.0%, to reach USD 64.8 billion by 2025. The increasing disposable incomes, growing population, busy lifestyles, and shift in the focus toward highly convenient and instantly processed food products are some of the key trends influencing the growth of the halal ingredients market. Companies across food, pharmaceuticals products, and cosmetics value chain have various opportunities to access or increase their penetration of halal food and ingredients products, either organically or through acquisition.

Key Market Players:

•             Koninklijke DSM N.V. (Netherlands)

•             Cargill (US)

•             Barentz B.V. (Netherlands)

•             ADM (US)

•             Kerry (Ireland)

•             DowDupont (US)

•             Solvay S.A. (Belgium)

•             BASF (Germany)

Request for Customization of the Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=141659494

Market Dynamics:

Drivers

•             Non-Oic Countries are Increasingly Relying on the Halal Food Industry

•             The Increase in the Muslim Population is Contributing to Rise in Demand for Halal Food and Ingredients

Restraints

•             Lack of Uniformity for Halal Standards in Different Countries

Opportunities

•             Unaddressed High-Potential Product Segments for Halal Ingredients

Challenges

•             There are No Common Standards and Being Halal-Certified Does Not Guarantee Access to the Global Market

The increasing prevalence of chronic diseases and lifestyle- and age-related diseases have led to a surge in demand for ingredients being used in the pharmaceutical sector. Major companies are focusing on acquiring halal certification for their ingredients to cater to the demands of the Muslim population in the growing pharmaceuticals market. Pharmaceutical ingredients are primarily made of two substances, which include active pharmaceutical ingredients (APIs) and excipients. APIs are substances in drugs that actively benefit consumer health by treating and preventing diseases. Excipients are inactive substances in drugs that serve as a vehicle to stabilize APIs. The market growth in the sector is supported by recent developments and investments in biological and biosimilar drugs.

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The Asia Pacific is estimated to account for the largest market share in the halal ingredients market in 2019. Rise in the Muslim population in the Asia Pacific countries and increasing consumption of convenience food in developing countries is projected to drive the halal ingredients market. The increasing awareness among consumers regarding halal cosmetics is attributed to the growth in this segment. The increasing disposable incomes, growing population, busy lifestyles, and shift in the focus toward highly convenient and instantly processed food are some of the key trends influencing the growth of the halal ingredients market in Asia Pacific.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441



on January 20 at 12:44

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