The Halal ingredients market has witnessed significant growth in recent years, driven by the increasing demand for halal-certified products among Muslim consumers worldwide. This market encompasses a wide range of food, pharmaceutical, and cosmetic ingredients adhering to Islamic dietary guidelines and principles. The surge in the global Muslim population, coupled with rising awareness about halal practices, has fueled the market’s expansion.
The global halal ingredients market is expected to witness growth at a CAGR of 4.9% in the forecasted period and to be valued at more than USD 436.2 Bn by 2032, while it is valued at US$ 327.4 Bn in 2022.
Even though Muslims will continue to be a minority in North America and Europe, they will make up a growing proportion of the total population. The Muslim population in Europe is expected to grow by nearly a third to 59.4 million by 2030. At the same time, North America’s Muslim population is expected to more than double, increasing the sales of halal ingredients in these markets. The term halal is gaining a lot of recognition lately as GCC countries promote Islamic culture and food practices.
The world’s growing and large Muslim consumer market will continue to fuel the halal industry’s escalating growth, opening up an array of halal market opportunities. Growing awareness of Muslim consumers’ religious obligations has also increased the demand for halal services and products. Muslims’ demographics have shifted dramatically in recent years.
The rising trend of using cruelty-free products is fueling the growth of the halal ingredients market in Europe and other developed economies, fueling global halal ingredients market expansion.
Stay ahead of the curve with our in-depth Sample report on the Halal Ingredients Market. Access key market insights and stay informed about emerging trends! https://www.futuremarketinsights.com/reports/sample/rep-gb-15015
Key Takeaways from Market Study
- The halal ingredients products market is expected to expand its roots in the global market at a CAGR of 4.9% over the forecasted period.
- Among the end-use segment, the food & beverage industry is dominating the segment holding around 61.2% of the revenue and it is likely to grow with a CAGR of 4.1% over the forecasted period.
- The North American halal ingredients market is valued at USD 84.1 Bn in 2022 and it is expected to grow with CAGR of 5.4% over the forecast period 2032.
“The rising Muslim population globally, non-Muslim population choosing the halal products together has surged the growth of halal ingredients.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of the global halal ingredients market are majorly focusing on research & development in order to develop innovative and unique product offerings. In addition to this these key players in the halal ingredients market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and also to increase the existing production capacity.
- In June 2021, Merck, a global leader in science and technology, introduced its entire cosmetics portfolio including the Candurin® pharmaceutical and food portfolio, has been certified in accordance with several internationally recognised halal standards.
As a result, Merck’s halal-certified product portfolio has expanded to include halal-certified special effect pigments, food colorants, and cosmetic ingredients.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global halal ingredients products market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Global Halal Ingredients Market by Category
By End-Use, Global Halal Ingredients Market is segmented as:
- Food Ingredients
- Sauces and marinades
- Thickening agents
- Sugar substitutes
- Flavors
- Other
- Beverage Industry
- Coffee
- Tea
- Concentrated beverages and juices
- Soft drinks
- Health and nutritional drinks
- Cosmetic Industry
- Body and skin care
- Oral care
- Fragrance
- Hair care
- Pharmaceutical
- Active Pharma Ingredients
- Excipients
By Region, Global Halal Ingredients Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Frequently Asked Questions
- How much is the Global Halal Ingredients Market worth?
- What is the biggest region in the Halal Ingredients Market?
- Who are the key players involved in the Global Halal Ingredients market?
- What is the biggest market for the Global Halal Ingredients market in Asia?
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
