Halal Ingredients Market Statistics, Segmentation, Size And Forecast 2024 To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Halal Ingredients Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The halal ingredients market size 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 growth in the historic period can be attributed to extreme weather conditions, stringent emission regulations, infrastructure development, consumer focus on energy efficiency, fluctuations in crude oil prices, renewable energy integration.

The halal ingredients market size 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 growth in the forecast period can be attributed to rising demand for biofuels, focus on reducing carbon footprint, smart heating systems, government regulations on fuel quality, growth in residential construction. Major trends in the forecast period include emissions reduction technologies, anti-gelling and cold-flow improvements, technological advancements in additive formulations, integration of artificial intelligence, partnerships and collaborations.

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Market Segmentation:
The halal ingredients market covered in this report is segmented -

1) By Type: Ingredients For Food And Beverage Industry, Ingredients For Pharmaceutical Industry, Ingredients For Cosmetics Industry
2) By Distribution Channel: Online, Offline
3) By Application: Food And beverages, Pharmaceuticals, Cosmetics

Major Driver - Surging Demand For Halal Processed Food Drives Growth In The Halal Ingredients Market
The rise in demand for halal processed food and beverages is expected to propel the growth of the halal ingredients market going forward. The food and beverage industry is a group of companies involved in transforming raw agricultural goods into consumer food products, ranging from packaging to preparing, transporting, and serving food or beverages. The use of halal ingredients in the food and beverages industry ensures health benefits, cleanliness, purity, and safety guaranteeing superior quality products, resulting in a rise in demand for halal ingredients. For instance, according to a nationwide (US) consumer insights survey conducted in September 2022 among 1,000 nationally representative U.S. adults by IFANCA, a US-based non-profit organization dedicated to halal certification and to promoting halal, 44% of respondents believed that halal-certified food products are more humane, 42% believed to be fresher and 41% believed to be healthier than non-halal-certified foods. Therefore, the rise in demand for halal processed food and beverages is driving the growth of the halal ingredients market.

Competitive Landscape:
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

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Top Trend - First-Ever Halal Certified Beef Dripping Redefines Halal Ingredients Market
Product innovations are a key trend gaining popularity in the halal ingredients Market. Major companies operating in the halal ingredients market are focused on developing new solutions to sustain their position in the market. In July 2022, KTC Edibles Ltd., a UK-based company that manufactures and distributes edible oils, launched the first-ever halal certified Beef Dripping in the United Kingdom. KTC Beef Dripping is suitable for all kinds of frying and roasting and a good choice for Fish and Chip shops looking to advance their inclusivity and cater to the Halal market.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Halal Ingredients Market Characteristics
3. Halal Ingredients Market Trends And Strategies
4. Halal Ingredients Market - Macro Economic Scenario
5. Halal Ingredients Market Size And Growth
…..
27. Halal Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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