Halal Food Market Likely To Reach USD 899.1 Billion By 2029
As
per the TechSci Research report titled "Global Halal Food Market -
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029," the worldwide Halal Food Market achieved a value of USD 899.1
billion in 2023, and it is expected to exhibit a Compound Annual Growth Rate
(CAGR) of 14.35% during the forecast period from 2025 to 2029. The global Halal
food sector has witnessed substantial growth in the past decade, driven by a
variety of factors such as the expanding Muslim population and increased
awareness and acceptance among non-Muslim consumers. This market transcends
geographical boundaries and has gained prominence globally, providing
significant opportunities for food producers, manufacturers, and retailers to
meet the specific dietary preferences of Muslim consumers. Halal food, adhering
to Islamic dietary laws, has extended its reach beyond traditional items like
meat, encompassing various segments like processed foods, beverages, cosmetics,
and pharmaceuticals.
Numerous
factors contribute to the global expansion of the Halal food market. A key
driver is the growing Muslim population, particularly in countries such as
Indonesia, Pakistan, India, Bangladesh, and Malaysia. The increasing disposable
income within this demographic, coupled with a heightened demand for certified
Halal products, has fueled the market's expansion. Additionally, the
globalization of trade and advancements in logistics and transportation have
facilitated the cross-border distribution of Halal products, making them more
accessible to consumers worldwide.
https://www.techsciresearch.com/report/halal-food-market/21698.html
Despite
experiencing rapid growth, the Halal food market encounters challenges related
to standardization, certification processes, and varying interpretations of
Halal requirements across regions. Additionally, there is an ongoing challenge
of consumer awareness about Halal products, particularly among non-Muslim
populations. However, these challenges also create opportunities for
innovation, collaboration, and market expansion. Streamlining certification
processes, educating consumers about Halal principles, and investing in
research and development efforts can further drive the market's growth.
Furthermore,
the Asia Pacific region has made significant investments in infrastructure and
certification processes to support the production, distribution, and export of
Halal products. Notably, Malaysia has positioned itself as a central hub for
Halal certification, establishing stringent standards and regulations to ensure
compliance. This dedication to quality and consistency has fostered trust among
consumers, both domestically and internationally, solidifying the region's
standing in the Halal food market.
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Culturally, the Asia Pacific region's
diverse culinary heritage is a key factor in the abundance and diversity of
Halal food options. The region features a vibrant array of traditional cuisines
and inventive culinary innovations, all adhering to Halal standards. This
cultural diversity not only meets the preferences of the local population but
also contributes to the worldwide appeal of Asian Halal cuisine.
Unlock
Essential Insights: Discover the Key Takeaways for Actionable Information!
·
Halal
Food Market is expected to grow at a CAGR of 14.35% during the forecast
period.
·
Halal
Food Market has a valuation of US$ 899.1 Billion as of 2023.
·
Asia-Pacific
currently holds the title of the largest market for Halal Food Market.
·
Halal food, deeply rooted in Islamic dietary
laws, represents more than just a culinary preference.
·
In
terms of type, the cages segment claims the top spot in Halal Food Market share.
·
When
considering the sales channel, the online retailers segment takes the lead in
market share.
·
Focusing
on the price range, the premium segment secures the highest market share in the
Halal Food Market.
Competitive Landscape
TechSci Research provides customization options based on a company's specific
requirements for the Global Halal Food Market report, leveraging the provided
market data. The report offers the following customization alternatives:
Recent
Developments
·
In
the year 2022, Chicken Cottage Limited, a fast-food chain based in the UK,
serves as the master franchisor and owner of the renowned "Chicken
Cottage" brand. The company has recently declared its venture into the
East African market through a franchising partnership agreement with Express
Kitchen, a subsidiary of All About Health AAH Limited. This strategic
collaboration is geared towards furthering the expansion and development of
their business line in the region.
·
In
2021, Crescent Foods, an innovative US-based company specializing in premium
hand-cut halal meat and poultry products, introduced a comprehensive turnkey
foodservice program designed for university and college dining halls
nationwide. This program encompasses a wide range of products, including
seasonally available turkey, hand-cut beef, lamb, and chicken, tailored to meet
the needs of on-campus dining establishments.
·
In
the same year, Nigeria forged a strategic alliance with OneAgrix to enhance
agriculture and gain access to halal markets under the African Continental Free
Trade Area (AfCFTA). Through this collaboration, Nigeria aims to utilize
OneAgrix's trading platform to achieve improved market access both globally and
regionally.
Major
companies operating in Global Halal Food Market are:
Al
Islami Foods Co., QL Foods Sdn Bhd, Saffron Road, DagangHalal Group, Janan Meat
Ltd, Kawan Foods Berhad, Cargill, Inc., Prima Agri-Products Sdn Bhd, Nestle
S.A., BRF S.A.
Market
Segmentation for Halal Food Market
·
Halal Food Market, By Type:
o
Meat
o
Poultry and Seafood
o
Fruits and Vegetables
o
Dairy Products
o
Cereals and Grains
o
Oil
o
Fats and Waxes
o
Confectionery
o Others
·
Halal Food Market, By Distribution Channel:
o
Online
o Offline
·
Halal Food Market, By Region:
o North
America
§
United States
§
Canada
§ Mexico
o Europe
§
France
§
United Kingdom
§
Italy
§
Germany
§ Spain
o Asia-Pacific
§
China
§
India
§
Japan
§
Australia
§ South
Korea
o South
America
§
Brazil
§
Argentina
§ Colombia
o Middle
East & Africa
§
South Africa
§
Saudi Arabia
§
UAE
§
Turkey
§ Egypt
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Table of
Content
1.
Introduction
1.1. Product
Overview
1.2. Key
Highlights of the Report
1.3. Market
Coverage
1.4. Market
Segments Covered
1.5. Research
Tenure Considered
2.
Research Methodology
2.1. Objective
of the Study
2.2. Baseline
Methodology
2.3. Key
Industry Partners
2.4. Major
Association and Secondary Sources
2.5. Forecasting
Methodology
2.6. Data
Triangulation & Validation
2.7. Assumptions
and Limitations
3.
Executive Summary
3.1. Market
Overview
3.2. Market
Forecast
3.3. Key
Regions
3.4. Key
Segments
4.
Voice of Customer
4.1. Factors
Influencing Purchase Decision
4.2. Challenges
Faced Post Purchase
4.3. Brand
Awareness
5.
Global Halal Food Market Outlook
5.1. Market
Size & Forecast
5.1.1. By
Value
5.2. Market
Share & Forecast
5.2.1. By
Type Market Share Analysis (Meat, Poultry and Seafood, Fruits and Vegetables,
Dairy Products, Cereals and Grains, Oil, Fats and Waxes, Confectionery, and
Others)
5.2.2. By
Distribution Channel Market Share Analysis (Online and Offline)
5.2.3. By
Regional Market Share Analysis
5.2.3.1. North
America Market Share Analysis
5.2.3.2. South
America Market Share Analysis
5.2.3.3. Middle
East & Africa Market Share Analysis
5.2.3.4. Europe
Market Share Analysis
5.2.3.5. Asia-Pacific
Market Share Analysis
5.2.4. By
Top 5 Companies Market Share Analysis, Others (2023)
5.3. Global
Halal Food Market Mapping & Opportunity Assessment
5.3.1. By
Type Market Mapping & Opportunity Assessment
5.3.2. By
Distribution Channel Market Mapping & Opportunity Assessment
5.3.3. By Region
Channel Market Mapping & Opportunity Assessment
6.
North America Halal Food Market Outlook
6.1. Market
Size & Forecast
6.1.1. By
Value
6.2. Market
Share & Forecast
6.2.1. By
Type Market Share Analysis
6.2.2. By
Distribution Channel Market Share Analysis
6.3. North
America: Country Analysis
6.3.1. United
States Halal Food Market Outlook
6.3.1.1. Market
Size & Forecast
6.3.1.1.1. By
Value
6.3.1.2. Market
Share & Forecast
6.3.1.2.1. By
Type Market Share Analysis
6.3.1.2.2. By
Distribution Channel Market Share Analysis
6.3.2. Canada
Halal Food Market Outlook
6.3.2.1. Market
Size & Forecast
6.3.2.1.1. By
Value
6.3.2.2. Market
Share & Forecast
6.3.2.2.1. By
Type Market Share Analysis
6.3.2.2.2. By
Distribution Channel Market Share Analysis
6.3.3. Mexico
Halal Food Market Outlook
6.3.3.1. Market
Size & Forecast
6.3.3.1.1. By
Value
6.3.3.2. Market
Share & Forecast
6.3.3.2.1. By
Type Market Share Analysis
6.3.3.2.2. By
Distribution Channel Market Share Analysis
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