Halal Ingredients Global Market Report 2024

The halal ingredients market has grown steadily in recent years. It will grow from $332.62 billion in 2023 to $344.52 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The expansion witnessed in the historical period can be ascribed to factors such as severe weather conditions, strict emission regulations, the advancement of infrastructure, consumer emphasis on energy efficiency, fluctuations in crude oil prices, and the integration of renewable energy.

The halal ingredients market is expected to see steady growth in the next few years. It will grow to $395.16 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be linked to an increasing demand for biofuels, a heightened focus on reducing carbon footprint, the adoption of smart heating systems, government regulations pertaining to fuel quality, and the expansion in residential construction. Key trends expected in the forecast period encompass advancements in emissions reduction technologies, enhancements in anti-gelling and cold-flow properties, progress in additive formulations through technological innovations, the integration of artificial intelligence, and the fostering of partnerships and collaborations.

The growth of the halal ingredients market is expected to be fueled by the increasing demand for halal processed food and beverages. Within the food and beverage industry, companies play a crucial role in converting raw agricultural goods into consumer products, encompassing various stages from packaging to preparation, transportation, and serving. The incorporation of halal ingredients in this industry is associated with health benefits, cleanliness, purity, and safety, ensuring the production of superior-quality products. A nationwide consumer insights survey conducted in September 2022 among 1,000 nationally representative U.S. adults by IFANCA, a U.S.-based non-profit organization dedicated to halal certification, revealed that 44% of respondents believed halal-certified food products to be more humane, 42% perceived them as fresher, and 41% considered them healthier than non-halal-certified foods. Thus, the surge in demand for halal processed food and beverages is a driving force behind the growth of the halal ingredients market.

The expansion of the Muslim population is anticipated to contribute significantly to the growth of the halal ingredients market. The Muslim population comprises individuals adhering to Islam, one of the major monotheistic Abrahamic religions. In adherence to Islamic dietary laws and principles, the Muslim population utilizes halal ingredients to ensure that the products they consume comply with halal standards. As projected by Morocco World News (MWN) in April 2023, the Muslim population is expected to reach nearly 3 billion by 2060. Consequently, the increasing Muslim population serves as a driving factor for the halal ingredient market.

A noteworthy trend in the halal ingredients market is the emphasis on product innovations by major companies. These companies are dedicated to developing novel solutions to maintain their competitive positions. An illustrative example is KTC Edibles Ltd., a UK-based company specializing in the manufacture and distribution of edible oils. In July 2022, KTC Edibles Ltd. launched the first-ever halal certified Beef Dripping in the United Kingdom, offering a suitable option for various frying and roasting applications and catering to the Halal market.

Strategic partnerships have become a prominent approach for major companies in the halal ingredients market. This collaborative strategy aims to enhance transparency and integrity in the supply chain and logistics of halal food products throughout their lifecycle. In August 2022, Fluree, a U.S.-based database management company, entered into a partnership with Sinisana Technologies Sdn. Bhd., a Malaysia-based technology company. This collaboration led to the development of an online platform named Intersect, leveraging blockchain technology to improve halal beef verification and traceability.

Iin May 2021, Agthia Group PJSC, a UAE-based food and beverages company, acquired Nabil Foods for $107.3 million (AED 394 million). Through this acquisition, Agthia diversified its portfolio by entering the processed protein industry in local and international markets, adding processed protein to its existing businesses in dates, convenience food, bottled water, flour, and animal feed. Nabil Foods, based in Jordan, is a company specializing in the production of 100% halal-based frozen and chilled products.

Major companies operating in the halal ingredients market report are Barentz B.V., Symrise AG, Ashland Global Specialty Chemicals Inc., Purecircle Ltd., Halagel (M) Sdn. Bhd., ADM Barentz B.V., Kerry Group Plc., Solvay S.A., Koninklijke DSM N.V., Cargill Incorporated, BASF SE, The Archer-Daniels-Midland Company, DuPont de Nemours Inc., Tesco PLC, Burger King Corporation, Ingredion Incorporated, Givaudan SA, Kingherbs Limited, Del Monte Phil's. Inc., MAC Cosmetics Company, Beiersdorf AG, Amara Cosmetics, Shiseido Co. Ltd., Lush Retail Limited, Nestle S.A., Unilever plc, BRF S.A., Ferrero International SA, Midamar Corporation, Crescent Foods Inc., Halal Ingredients Company, American Halal Company Inc., American Foods Group LLC, Al Islami Foods, Prima Quality Food Industries Sdn Bhd, Noor Pharmaceuticals LLC, AB Mauri Malaysia Sdn Bhd.

Middle East was the largest region in the halal ingredients market in 2023. Middle East is expected to be the fastest-growing region in the global halal ingredients market during the forecast period. The regions covered in the halal ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the halal ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of halal ingredients include those for the food and beverage industry, pharmaceutical industry, and cosmetics industry. Within the food and beverage sector, halal ingredients encompass flavors, hydrocolloids, starches, sweeteners, acidulants, emulsifiers, and other classifications. Examples of halal-suitable ingredients in the food and beverage industry encompass sugars, zein, beeswax, vegetable oils, and petroleum fractions. Curing agents such as sodium ascorbate, sodium erythorbate, citric acid, and propylene glycol, which are considered halal, find application in this industry. These ingredients are available for purchase both online and offline, catering to the needs of the food and beverage, pharmaceutical, and cosmetics sectors.

The halal ingredients market research report provides halal ingredients market statistics, including halal ingredients industry global market size, regional shares, competitors with a halal ingredients market share, detailed halal ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the halal ingredients industry. This halal ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The halal ingredients market consists of sales of halal-certified ingredients such as starches, emulsifiers, sweeteners, hydrocolloids, and acidulants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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