Global
Halal Ingredients Market: Overview
It
is any ingredient which is permissible to use according to the
Islamic law. It can be designated to food as well as beverages and
other matters of daily life. The common ingredient of halal
ingredient 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 large demand in cosmetic products that are
made up of halal ingredients. Products like lipsticks, creams and
soaps are checked by scientists to make sure that these products
contain halal ingredients. People around the globe even non-Muslims
prefer having food and beverages which are halal ingredients
certified as they are safe and healthy. Law that is first of its kind
which states food should be labelled halal or not since 2017,
toiletries in 2018 and medicines 2019.
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Global
Halal Ingredient Market: Market Dynamics
The
growth of global halal ingredients market is driven by food and
beverage and cosmetic industry. There has been a major rise in the
consumption of products with halal ingredients in the markets since
people around the globe are becoming conscience about healthy and
safe products. There has been a major shift in the supply and demand
of halal ingredient products. Since Muslim consumers are becoming a
fastest growing outlet to build a future growth hence several
companies around the world offer halal processed foods products,
beverages and cosmetic and pharmaceutical products. Modern consumers
are eco-ethical conscious and are willing to pay premium price for
natural, organic and earthly products. The minor setback of having
halal ingredients in products would be the high cost of production.
And may have issues with the quality standards.
Global
halal market: Segment overview
In
near future food and beverage industry will be a key market force in
halal ingredients market. Cosmetic and pharmaceuticals industry
follows food & beverage industry in market growth.
Global
Halal Ingredient Market: Regional overview
Based
on the geographies, the global halal ingredients market is framed
into seven key regions- North America, Latin America, Western Europe,
Asia-pacific except japan, Japan, and the Middle East & Africa.
Among the regions mentioned above, Market has grown strongly in past
few decades the two strongest market for halal products are Asia
pacific and Middle East. The largest population of Muslims are
located in south Asia and pacific regions in countries like
Indonesia, Pakistan, India and Bangladesh as a result the halal
ingredients certifications are growing in these regions. In North
America and Latin America the size of Muslim community is still
growing and will create greater opportunities in the market of halal
ingredients. There is a rapid rise in the annual sales of halal
ingredients in Western Europe. Halal ingredients market place is
rising as one of the most profitable market arenas in the world and
with the expected increase in population and income of the consumers,
the halal
ingredient market is expected to grow for the forecasted year
and the future for the halal ingredient market is expected to be
strong.
Global
halal ingredient market players
Some
of the market players identified in the global halal ingredient
market includes:
- Nestle Pvt. Ltd
- Tesco Stores
- Unilever
- L’Oreal
- Del Monte Phil’s., Inc.
- Burger King Corporation
- MAKE-UP ART COSMETICS
- Beiersdorf
- Amara cosmetics
- Shiseido Co., Ltd.
- Lush Retail Ltd.
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