Global Halal Ingredients Market Projected to Grow at 3.3% Through 2027

The global halal ingredients market is experiencing steady growth, driven by increasing Muslim populations worldwide and growing awareness of halal products. According to a new market research report, the global halal ingredients market is projected to grow at a compound annual growth rate (CAGR) of 3.3% from 2022 to 2027.

What are Halal Ingredients?

Halal ingredients refer to food ingredients that adhere to Islamic dietary laws. For an ingredient to be considered halal, it must be:

– Free of any pork or pork by-products
– Prepared in a manner that follows Islamic slaughter rituals
– Free of alcohol and other intoxicants
– Processed separately from non-halal foods

Some common halal ingredients include:

– Vegetables, fruits, grains
– Permissible meats like chicken, beef, lamb
– Dairy products
– Seafood
– Spices and flavorings

Key Drivers of the Halal Ingredients Market

The major factors fueling the growth of the global halal ingredients market include:

– Rising Muslim populations: Islam has over 1.9 billion followers globally, making halal ingredients essential for food manufacturers targeting Muslim consumers. Muslim populations are projected to grow by 70% from 2015 to 2060.

– Increasing halal certification: More food companies are obtaining halal certification for their products and supply chains. This allows them to export and sell to Islamic markets.

– Halal as a symbol of quality: Halal ingredients are associated with safety, hygiene, and high quality. Non-Muslim consumers often prefer halal products due to this perception.

– Growth of the halal food and beverage industry: The global halal food and beverage market is rapidly expanding and was valued at $2 trillion in 2021. This provides opportunities for halal ingredient suppliers.

Regional Outlook

Asia Pacific held the largest share of the global halal ingredients market in 2021. Countries such as Indonesia, Malaysia, Pakistan, and others in this region have majority Muslim populations, driving demand for halal ingredients. The Asia Pacific halal ingredients market is forecasted to expand at a CAGR of 3.8% through 2027.

The Middle East and Africa is another major market for halal ingredients, projected to grow at 2.6% CAGR. Increasing affluence in Gulf nations like the UAE and Saudi Arabia is supporting the MEA halal ingredients market.

Key Players

Some of the major companies operating in the global halal ingredients market include:

– Kerry Group (Ireland)
– Cargill (US)
– Barentz B.V. (Netherlands)
– ADM (US)
– Solvay S.A. (Belgium)
– DowDupont (US)
– Koninklijke DSM N.V. (Netherlands)

The future looks promising for the global halal ingredients market as the Muslim population expands and awareness of halal products increases. Companies that obtain halal certification and develop quality halal ingredients will be well-positioned to capitalize on this growing market opportunity.