Halal Ingredients Global Market to Reach $395.16 Billion by 2028

The halal ingredients market is projected to grow from $344.52 billion in 2024 to $395.16 billion by 2028, at a compound annual growth rate (CAGR) of 3.5%, News Wires reported yesterday citing the Business Research Company.

According to the source, this growth follows an increase from $332.62 billion in 2023, driven by factors such as extreme weather, stringent emission regulations, and a focus on energy efficiency.

The rise in demand for halal processed food and beverages is a significant driver of this market expansion. The halal ingredients ensure health benefits and safety, enhancing product quality. Key players in the market include Barentz B.V., Symrise AG, and Ashland Global Specialty Chemicals Inc.

Market segments include ingredients for the food and beverage, pharmaceutical, and cosmetics industries, with distribution channels spanning online and offline. Product innovations are also emerging as a key trend, with companies striving to develop new solutions to maintain their competitive edge.