Global Halal Ingredients Market Overview:
In Arabic, the word Halal means lawful or permitted. Halal foods are foods that are permitted under Islamic dietary guidelines. Halal ingredient in the food and product is the important thing that Muslim people must care when they want to buy that product or food. In the meat and poultry food industry, animals such as cows, lamb, sheep, goats, turkeys, chickens, ducks, bison, venison, etc, are considered halal. Halal products are free from alcohol, any forbidden animal products, and certain other ingredients and no alcohol has been used in the manufacturing process. Equipment used in the manufacturing are not used for any other products or any ingredients of animal or alcohol origin.
As per latest study released by AMA Research, the Global Halal Ingredients market is expected to see growth rate of 4.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Demand for Processed Food and Drink Is Growing Massively and Increase in the Muslim Population
Market Growth Drivers:
Increasing Demand for Hormone Free Meat and Increasing Awareness of Muslim Consumers on Their Religious Obligations
Challenges:
Higher Cost of Producing Farm-Raised and Organic-Fed Meat
Restraints:
Lack of Uniformity for Halal Standards in Different Countries
Opportunities:
Increasing Acceptance among Non-Muslim Consumers and Growing Demand for Organic and Natural Food among Muslim Consumers
Competitive Landscape:
The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market
Some of the key players profiled in the report are Del Monte Phil’s., Inc. (Philippines), Amara cosmetics (United States), Lush Retail Ltd. (United Kingdom), DSM N.V. (Netherlands), ADM (United States), Kerry (Ireland), Solvay S.A. (Belgium), Cargill (US), BASF (Germany), Symrise (Germany), Ashland (United States) and Halagel (Malaysia). Analyst at AMA Research see German Vendors to retain maximum share of Global Halal Ingredients market by 2030. Considering Market by Ingredient Type, the sub-segment i.e. Antioxidants will boost the Halal Ingredients market.
Latest Market Insights:
On May 6, 2020- Symrise has signed a contract to acquire the Italian biotech company Cutech in Padua. The purchase will expand the expertise of Symrise in the efficacy testing of cosmetic ingredients and open new opportunities for collaboration with partners from scientific institutions. It will also increase the go-to-market speed for novel active ingredients.
In February 2022, Merck launched new Halal-certified ingredients, RonaCare® Baobab and RonaCare® Hibiscus, on February 7, 2022. These ingredients are vegan, from 100% natural origin, and fulfill the COSMOS-standard.
Canada- As of April 2016, the Government of Canada amended the Food and Drug Regulations Act, which states that any food item claiming to be halal must include the name of the certifying body, either a third-party organization or individual certified to oversee the production of the food items to ensure regulations are followed. and Europe- The EU legislation on the killing of animals aims to minimize the pain and suffering of animals through the use of properly approved stunning methods. It applies to farmed animals. In 2009 the Union adopted Council Regulation (EC) N° 1099/2009 on the protection of animals at the time of killing which started to apply on 1 January 2013.
What Can be Explored with the Halal Ingredients Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Halal Ingredients Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Halal Ingredients
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Halal Ingredients market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Halal Ingredients market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Halal Products, Suppliers of Halal Products, Wholesalers, Distributors and Retailers of Halal Products, Food and Beverage Industry, Pharmaceutical Industry, Research Organization and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.