The halal ingredients market, in terms of value, is estimated to account for USD 45.7 billion in 2019 and is projected to grow at a CAGR of 6.0%, to reach USD 64.8 billion by 2025. The increasing disposable incomes, growing population, busy lifestyles, and shift in the focus toward highly convenient and instantly processed food products are some of the key trends influencing the growth of the halal ingredients market. Companies across food, pharmaceuticals products, and cosmetics value chain have various opportunities to access or increase their penetration of halal food and ingredients products, either organically or through acquisition.

Key Market Players:

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

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Market Dynamics:

Drivers
• Non-Oic Countries are Increasingly Relying on the Halal Food Industry
• The Increase in the Muslim Population is Contributing to Rise in Demand for Halal Food and Ingredients

Restraints
• Lack of Uniformity for Halal Standards in Different Countries

Opportunities
• Unaddressed High-Potential Product Segments for Halal Ingredients

Challenges
• There are No Common Standards and Being Halal-Certified Does Not Guarantee Access to the Global Market

The increasing prevalence of chronic diseases and lifestyle- and age-related diseases have led to a surge in demand for ingredients being used in the pharmaceutical sector. Major companies are focusing on acquiring halal certification for their ingredients to cater to the demands of the Muslim population in the growing pharmaceuticals market. Pharmaceutical ingredients are primarily made of two substances, which include active pharmaceutical ingredients (APIs) and excipients. APIs are substances in drugs that actively benefit consumer health by treating and preventing diseases. Excipients are inactive substances in drugs that serve as a vehicle to stabilize APIs. The market growth in the sector is supported by recent developments and investments in biological and biosimilar drugs.

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The Asia Pacific is estimated to account for the largest market share in the halal ingredients market in 2019. Rise in the Muslim population in the Asia Pacific countries and increasing consumption of convenience food in developing countries is projected to drive the halal ingredients market. The increasing awareness among consumers regarding halal cosmetics is attributed to the growth in this segment. The increasing disposable incomes, growing population, busy lifestyles, and shift in the focus toward highly convenient and instantly processed food are some of the key trends influencing the growth of the halal ingredients market in Asia Pacific.

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