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The halal ingredients market is set to expand from $344.52 billion in 2024 to $395.16 billion by 2028, reflecting a compound annual growth rate (CAGR) of 3.5%, according to recent data from News Wires and the Business Research Company. This increase follows the rise from 332.62 billion in 2023, influenced by sever weather conditions, strict law and push for energy defiiciency.
The market encompasses ingredients for the food and beverage, pharmaceutical, and cosmetics industries, with distribution channels covering both online and offline platforms. Product innovation is emerging as a key trend, with companies pushing to develop new solutions to stay competitive.
The major contributer to this surge is the growing demand for the halal food and beverages, which are valued for thier health benefits and safety, boosting overall product quality. Leading players in the sector include Barentz B.V., Symrise AG, and Ashland Global Specialty Chemicals Inc.
