The global halal ingredients market size is valued at USD 327.4 Bn in 2022 and it is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2032. The average CAGR is likely to lead the market as it would cross the value of US$ 436.2 Bn by 2032.
Despite remaining a minority in North America and Europe, the Muslim population is set to witness significant growth, with a projected increase of nearly a third to reach 59.4 million in Europe by 2030. Concurrently, North America anticipates more than doubling its Muslim population, consequently boosting the demand for halal ingredients in these markets. The term “halal” is gaining widespread recognition, especially as Gulf Cooperation Council (GCC) countries actively promote Islamic culture and dietary practices.
The expansive and burgeoning Muslim consumer market worldwide continues to propel the rapid growth of the halal industry, creating a plethora of opportunities within the halal market. A heightened awareness of the religious obligations among Muslim consumers has led to an increased demand for halal services and products. Notably, the demographics of the Muslim population have undergone significant shifts in recent years.
The surging preference for cruelty-free products is acting as a catalyst for the growth of the halal ingredients market, particularly in Europe and other developed economies, contributing to the overall expansion of the global halal ingredients market.
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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.”– Nandini Roy Choudhury, Client Partner at Future Market Insights
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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
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Competitive Landscape
Key manufacturers of global halal ingredients market are majorly focusing on research & development in order to develop innovative and unique product offering. 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.
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.
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