According to the current analysis of Reports and Data, the global Halal Ingredients Market was valued at USD 49.39 Billion in 2020 and expected to reach USD 73.93 Billion by the year 2028, at a CAGR of 6.2%. Halal food refers to the food products that are prepared by following Islamic dietary laws regulations, which defines foods that are lawful or permissible and clean. Muslims community consumers avoid food beverages that are Haram, meaning forbidden or unlawful by their Islamic faith. The Intake of food items is also rising due to the surge in the Muslim population worldwide, which expected to drive the growth of the market.
An extensive analysis of the global market is included in the report which covers different factors from region-centric key statistical data to macro- and micro-economic factors that are crucial for forecast assessment. The study also offers a comprehensive analysis of the growth prospects, patents, technological advancements, and product launches in the market.
The report offers a panoramic view of competitive landscape of the global market to offer key insights into the key players and their business expansion plans. It also offers critical insights into their financial status, global position, product portfolio, revenue and gross profit margins, and technological and research developments. It further sheds lights on MA activities, collaborations, partnerships, agreements, deals, and product launches among others. The research study deploys advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis to offer deeper insights into key players.
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Koninklijke DSM N.V. (Netherlands), Cargill (US), Barentz B.V. (Netherlands), ADM (US), Kerry (Ireland), DowDupont (US), Solvay S.A. (Belgium), BASF (Germany), Symrise (Germany), Ashland (US), Purecircle Limited (Malaysia), and Halagel (Malaysia).
Further key findings from the report suggest:
- The Halal Ingredients market is growing at a CAGR of 3 % in the Middle Eastern Region due to more influx of migrants and increasing regulations for strict usage of halal food. The region also witnessed more product innovation and funding for the promotion of these foods.
- The Flavors segment dominated the ingredients in the F B industry due to the increase in certification agencies. Thus food products certified as halal or kosher should have their constituent raw materials, processing aid ingredients, processing and sanitation chemicals, packaging material, etc. meet the religious dietary requirements
- Countries like Australia are also playing a significant role in the food market. Australia, with a local Muslim populace of about half a million, has come to be a world leader in the processing and manufacturer of halal meat and meat products. The continent is a long-trusted provider of Beef and Lamb to over 100 nations in the world, comprising the Middle East.
- Australia has one of the strictest Halal Programs in the world. The Australian Government Certified Program (AGAHP) undertaken in collaboration with the Australian government’s Division of Agriculture Water Resources and Australian Islamic Organizations. Collectively, they enforce the best practices of production guidelines, which have aided to the global acknowledgment that Australia’s Halal program is amongst the most meticulously implemented system in the world
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Ingredient Type (Revenue, USD Million; 2018–2028)
- Ingredient for F B Industry
- Ingredient for Pharmaceutical Industry
- Active Pharma Ingredients
- Ingredient for Cosmetic Industry
- Specialty Additives
- Active Ingredients
Application (Revenue, USD Million; 2018–2028)
- Food Beverage
- Convenience Food Products
- Bakery Products
- Beverage Products
- Meat Poultry Products
- Confectionary Products
- Skin Care
- Hair Care
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Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- The U.S.
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
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