Halal Food Market in US by Product, End-user, and Distribution Channel - Forecast and Analysis 2020-2024

  • Published: Jul 2020
  • Pages: 120
  • SKU: IRTNTR44206

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The halal food market size in the US has the potential to grow by USD 8.17 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by product (halal meat, poultry, and seafood, halal cereals and grains, halal fruits, vegetables, and nuts, halal beverages, and other halal foods), end-user (retail and foodservice), and distribution channel (supermarkets and hypermarkets, traditional retailers, and others). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Al Safa Foods Ltd., American Foods Group LLC, The American Halal Co. Inc., Barry Callebaut AG, Cargill Inc., Coleman Natural Foods LLC, Crescent Foods, Kronos Foods Corp., Midamar Corp., and Nema Food Distribution Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented. Vendors are investing in organic and inorganic growth strategies, such as the expansion of production plants and new product launches, to increase their productivity and strengthen their market positions. Al Safa Foods Ltd., American Foods Group LLC, and The American Halal Co. Inc. are some of the major market participants. Although the symbol of healthy food will offer immense growth opportunities, ethical labeling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this halal food market forecast in the US provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape, challenges, and offers information on the products offered by various companies. Moreover, this market analysis report provides information on the upcoming halal food market trends in the US that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This halal food market analysis in the US report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Al Safa Foods Ltd.
  • American Foods Group LLC 
  • The American Halal Co. Inc.
  • Barry Callebaut AG
  • Cargill Inc.
  • Coleman Natural Foods LLC
  • Crescent Foods
  • Kronos Foods Corp.
  • Midamar Corp.
  • Nema Food Distribution Inc.

 

Halal Food Market: Segmentation by Product

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The rising purchasing power of the consumers and the increasing preference for pre-cooked and convenience foods will drive the demand for products such as sausages, salami, bacon, corned beef, beef ham, and others. This, in turn, will create a demand for halal meat, which is considered healthier meat than other meat (except kosher meat). Therefore, the growth of the halal food market share in the US by the halal meat, poultry, and seafood segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the halal food market size in the US.

Halal Food Market: Segmentation by Distribution Channel

The growth of organized retail in the country has led to growth in the sales of halal food through supermarkets and hypermarkets. Usually, supermarkets purchase halal food products from traditional markets like wet markets and slaughterhouses. Then it modifies, processes the product, and price it accordingly. Many slaughterhouses have partnered with supermarkets and wholesalers as their supply channels. Therefore, the growth of the halal food market share in the US by the supermarkets and hypermarkets segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the halal food market size in the US.

Halal Food Market In US: Key Drivers And Trends

The increase in consumption of halal meat is owing to the increasing concerns about hygiene and health among consumers. A small percent of the US population is of Muslims. However, the market for halal foods is still growing owing to the rising awareness about the health benefits associated with halal among non-muslims. To leverage this preference, many restaurants and food chains are adopting halal labels in the country.

The sales and distribution of products in the US happen primarily through organized and modern retail channels. Globally, the sales of halal food are mainly dominated by wet and traditional markets. However, in the US, the sales of halal food are maximum through modern retail channels such as supermarkets, hypermarkets, convenience stores, and more. With the growing demand for halal foods, several retailers are selling halal labeled food products. It is a mandate for the supermarkets and other retailers that supply halal food, to clearly label halal. In 2016, more than 7500 places sold halal food in the US as compared to nearly 200 places in 1998. These stores have dedicated space (shelf space) for halal foods and are kept separately from non-halal foods. Thus, most consumers trust this source of distribution for halal meat products. Such factors will drive the growth of the halal food market the in US at a CAGR of over 5% during 2020-2024.

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Halal Food Market In US: Key Highlights Of The Report For 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive halal food market growth in the US during the next five years
  • Precise estimation of the halal food market size in the US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the halal food industry across the US
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of halal food market vendors in US

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The halal food market growth will increase by $8.17 billion during 2019-2024.
The halal food market is expected to grow at a CAGR of 5.49% during 2019-2024.
Technavio has segmented the halal food market by product (Halal meat, poultry, and seafood, Halal cereals and grains, Halal fruits, vegetables, and nuts, Halal beverages, and Other halal foods) ,end user (Retail and Foodservice) , and distribution channel (Supermarkets and hypermarkets, Traditional retailers, and Others).
Al Safa Foods Ltd., American Foods Group LLC , The American Halal Co. Inc., Barry Callebaut AG, Cargill Inc., Coleman Natural Foods LLC, Crescent Foods, Kronos Foods Corp., Midamar Corp., Nema Food Distribution Inc. are a few of the key vendors in the halal food market.
US will register the highest growth rate of 60.34% among the other regions. Therefore, the halal food market in US is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the halal food market growth are:
  • Symbol of healthy food
The halal food market vendors should focus on grabbing business opportunities from the halal meat, poultry, and seafood segment as it accounted for the largest market share in the base year.
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