The global halal ingredients market size is expected to reach USD 335,014 million by 2024, with a steady growth projected at 3% CAGR. By 2034, the market is anticipated to expand further, reaching a total value of USD 451,467 million.
Companies in this sector are addressing the unique needs of the growing global Muslim population. By adhering to Islamic dietary guidelines, these players are developing ingredients such as flavorings, emulsifiers, enzymes, and starches for food and beverages. Their commitment to ethical sourcing, processing, and religious compliance ensures they meet the demands of this expanding market.
Explore Industry Trends and Developments in Halal Ingredient Market Request Your Sample Report
Economies with substantial Muslim populations are experiencing growth and rising disposable incomes. This economic progress is prompting consumers to prioritize halal-certified products, which in turn drives the demand for compliant ingredients.
Competitive Landscape
Leading companies in this sector are adopting innovative approaches to maintain their competitive edge. Key strategies include introducing new halal-certified ingredients tailored to the needs of food and beverage manufacturers. This effort encompasses the creation of plant-based alternatives, ingredients catering to specific dietary needs, and functional ingredients enriched with health-promoting components.
To enhance their market reach, companies are expanding into untapped regions that have substantial Muslim populations, particularly in the Middle East and Southeast Asia. Additionally, they are bolstering their presence and capabilities through acquisitions of smaller firms, thereby accelerating growth in the halal ingredient market.
Players are also coming into collaborations with local companies and established halal certification bodies to streamline the certification process. This further opens ways to strengthen the distribution networks.
Participants are also emphasizing on traceability of their production of halal ingredients. This assures customers about the good quality of products and also allows the tracking of origin and processing of ingredients.
Leading Halal Ingredient Brands
- Nestlé S.A
- ADM (Archer Daniels Midland)
- Ingredion
- AB Mauri Malaysia Sdn. Bhd
- BASF SE
- Ashland Inc.
- Givaudan
- Kerry
- Kingherbs Limited
- Others
Industry Updates
- In February 2024, CJ Foods, a South Korean-based company, introduced the first halal bibigo Mandu products. The firm is planning to debut the taste of Korean Mandu, which has a No.1 market share in countries like Vietnam, Korea, and the United States, in the Malaysia market.
- In November 2023, McCook commenced operations in Eustis, Nebraska for the production of beef bacon. With this, the company hopes to serve the incredibly underserved market for halal products.
Gain Exclusive Access to Growth Strategies in Halal Ingredient Market Grab Your Essential Report
Key Segments of the Halal Ingredient Market
By Application:
Various applications of the product are food ingredients, the beverage industry, the cosmetic industry, and the pharmaceutical. The food ingredients segment is further divided into thickening agents, sauces and marinades, flavors, sugar substitutes, and others.
The beverage industry is segmented into coffee, tea, concentrated beverages, and juices, soft drinks, and health and nutritional drinks. The cosmetic industry is categorized into body and skin care, oral care, fragrance, and hair care. The pharmaceutical sector further is bifurcated into active pharma ingredients and excipients.
By End Use:
In terms of end use, the industry is bifurcated into HoReCa and food processing.
By Region:
Halal ingredient market analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa, and Oceania.
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 400 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
