By 2028, the global Halal ingredients market is expected to reach US$72.81 billion, with a compound annual growth rate of 5.42% from 2021 to 2028.
This growth is attributed to the growing demand for Halal-certified products, increasing awareness of the benefits of Halal ingredients, and the growth of the global Muslim population.
Halal ingredients are food ingredients certified by an authorized Islamic body as compliant with Islamic dietary law. These ingredients are used in the production of various foods, including snacks, beverages and desserts. Halal ingredients have many benefits, including being free of alcohol, preservatives and other harmful additives.
Increasing awareness of the benefits of Halal ingredients has led to increased demand for Halal-certified products. In addition, the growth of the Muslim population in countries such as Indonesia, Malaysia and India has also driven the growth of the Halal ingredients market.
Furthermore, the growing prevalence of food allergies and foodborne illnesses has also driven demand for Halal ingredients. Halal ingredients are free of animal products and are suitable for vegan and vegetarian diets.
The growing demand for convenience food has also boosted market growth; Halal ingredients are increasingly used in the production of ready-to-eat foods and snacks, and the growing popularity among health-conscious consumers has also driven market growth.
The market has also witnessed increased investment from major food and beverage companies. Companies such as Nestle, Unilever and PepsiCo are investing in the production of Halal-certified products.