CHICAGO, June 7, 2019 /PRNewswire/ -- According to the new market research report "Halal Ingredients Market by Type (Ingredients for Food & Beverage Industry, Ingredients for Pharmaceutical Industry, Ingredients for Cosmetics Industry), Application (Food & Beverage, Pharmaceuticals, and Cosmetics), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Halal Ingredients Market is projected to grow at a CAGR of 6.0% from 2019, to reach USD 64.8 billion by 2025.
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By type, the ingredients for the food & beverage industry segment is estimated to account for the largest share in the halal ingredients market in 2019
Of the various types, the ingredients for the food & beverage industry segment is a leading segment in the halal ingredients market. The ingredients for the food & beverage industry segment is estimated to dominate the halal ingredients market in 2019. Companies are focusing on product innovations and providing halal products to cater to the increasing demand among consumers. The convenience foods market is driven by busy lifestyles and the aging population. It includes a range of processed foods that have a longer shelf life and are easy to use. The health benefits and cleanliness associated with halal-certified foods is projected to drive the halal ingredients market in the food industry. Improvements in the halal certification sector are projected to provide growth opportunities to the halal ingredients manufacturers in the food and beverage industry.
Browse in-depth TOC on "Halal Ingredients Market"
97 – Tables
41 – Figures
188 – Pages
The pharmaceutical segment is projected to witness strong growth due to the rising demand for ingredients in drugs to cure age-related diseases.
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 dominate the halal ingredients market in 2019.
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.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the halal ingredients market. Key players in the halal ingredients market include Koninklijke DSM N.V. (Netherlands), ADM (US), DowDupont (US), Kerry (Ireland), Solvay S.A. (Belgium), Barentz B.V. (Netherlands), Cargill (US), BASF (Germany), Symrise (Germany), Ashland (US), Purecircle Limited (Malaysia), and Halagel (Malaysia).
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