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According to the latest reports, the global halal raw materials market is expected toThe halal ingredient market is projected to grow from $320.81 billion in 2022 to $332.62 billion in 2023, and will reach $379.06 billion in 2027, at a compound annual growth rate of 3.3%. The halal ingredient market is comprised of sales of halal-certified ingredients, primarily for the food and beverage industry, pharmaceutical industry, and cosmetics industry.

New York,August 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announced the release of the report “Halal Ingredients Global Market Report 2023”.This timeThe countries covered in the Halal Ingredients Market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the US.

The global halal ingredients market is expected toThe halal ingredients market is projected to reach $379.06 billion by 2027, growing at a compound annual growth rate (CAGR) of 3.3%. The Russia-Ukraine conflict has, at least in the short term, undermined the global economic recovery from the COVID-19 pandemic. The conflict between the two countries has led to economic sanctions on several countries, soaring commodity prices, and disrupted supply chains, leading to inflation in goods and services and impacting many global markets. The halal ingredients market is projected to reach $379.06 billion by 2027, growing at a CAGR of 3.3%.

The Halal Ingredients market consists of sales of Halal certified ingredients such as starches, emulsifiers, sweeteners, hydrocolloids and acidulants. The market is valued atEx-factory value refers to the value of goods sold by the manufacturer or creator of a product, whether the goods are shipped to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to the end customer. The value of goods in this market includes the associated services sold by the creator of the goods.

Halal ingredients are those that do not contain any ingredients prohibited by Islamic law. The processing, production, manufacturing and storage of these ingredients are carried out using utensils, equipment andand/or machinery.

The Middle East isThe largest regions in the Halal ingredients market in 2022，The Middle East is expected to be the fastest-growing region during the forecast period.

The main types of halal ingredients are ingredients for the food and beverage industry，Raw materials for the pharmaceutical industry and raw materials for the cosmetics industry. Halal raw materials used in the food and beverage industry are divided into flavors, hydrophilic colloids, starch, sweeteners, acidulants, emulsifiers and others.

Sugar, zein, beeswax, vegetable oils, and petroleum fractions are halal-compliant ingredients used in the food and beverage industry. Sodium ascorbate, sodium erythorbate, citric acid, and propylene glycol are halal-compliant firming agents used in the industry. These products are sold both online and offline and are used in the food and beverage, pharmaceutical, and cosmetics industries.

The growing demand for halal processed food and beverages is expected to drive the growth of the halal ingredients market. The use of halal ingredients in the food and beverage industry ensures health benefits, cleanliness, purity, and safety, thereby guaranteeing quality products, leading to an increase in the demand for halal ingredients. For example,IFANCA (Islamic Food and Nutrition Association of America，A non-profit organization dedicated to halal certification and promotion A national consumer insights survey of 1,000 representative U.S. adults was conducted in September 2022。The results show that44% of respondents believe that halal-certified food is more humane, 42% believe it is fresher than non-halal certified food, and 41% believe it is healthier. Therefore, the growing demand for halal processed food and beverages is driving the growth of the halal ingredients market.