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The global halal food market size is projected to reach a value of USD 427.68 billion with a CAGR of 4.52% between 2022 and 2027. The market offers a wide range of halal-certified food products including meat, poultry, dairy, snacks, and even cosmetics and personal care items. This is not only consumed by Muslims but also appeals to individuals seeking ethical and high-quality food options. The market is driven by the rising number of product offerings under this category and the increasing number of companies in the global market is resulting in increased consumer spending on products globally.
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The increasing consumer expenditure on this is notably driving the halal industry. Until the past decade, the global market was only prominent in countries such as Indonesia, Malaysia, Saudi Arabia, Singapore, the UAE, and other Middle Eastern countries. Australia is one of the major exporters of food and beverages globally. The exports from Australia are expected to increase during the forecast period. This, in turn, will impact the market growth positively during the forecast period.
The popularity of the organized retail sector is a key trend influencing market growth. Hypermarkets and supermarkets are two of the major offline distribution channels for this product. Organized retailing is an integral part of these offline distribution channels, which facilitates the purchasing process for consumers and enables them to choose from a diverse range of products. An increase in the number of organized retailers offering private-label is one of the major factors that are expected to drive the popularity of the market during the forecast period.
The market faces significant hurdles due to the absence of universally accepted regulatory standards for certification. Country-specific regulations and evolving frameworks pose major challenges. The complexity arises from varying standards across regions and a lack of a cohesive accreditation scheme to oversee certification bodies, leading to conflicts of interest. Presently, the regulatory framework for its' certification remains confined to individual countries.
Despite challenges, opportunities exist within this landscape. Countries like Malaysia have established comprehensive domestic regulations. Australia, India, China, and Brazil are significant exporters of this, signaling market potential. Addressing regulatory challenges could unlock substantial growth opportunities in the global market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Al Islami Foods- The company offers halal foods such as chicken burgers and beef burgers.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
The market share growth by the halal meat and poultry segment will be significant during the forecast period. The segment primarily includes halal foods such as beef, lamb meat, goat meat, chicken, Turkey, and fish.
Halal Food Products: Meat and Poultry
The segment can be further classified as a fresh meat market, poultry, and seafood products that are free of artificial ingredients or added color.
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The growth of this segment is primarily attributed to the increasing adoption of the market, which is driven by an increase in global demand.
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APAC is projected to contribute 51% of the market's growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
This has gained popularity not just among Muslim consumers but also among those seeking ethically sourced and top-quality choices. Non-Muslim individuals are showing a rising interest due to perceived health benefits, ethical considerations, and the assurance of superior quality. Both Muslim and non-Muslim consumer communities often link Halal certification with elevated standards in terms of quality, hygiene, and adherence to specific guidelines. Younger generations, particularly Millennials and Generation Z, are increasingly drawn, and influenced by social media exposure, travel encounters, and a heightened emphasis on ethical and sustainable consumption practices.
The Halal food market is experiencing significant growth globally, driven by increasing population and demand for safe and reliable food products. Countries like Italy, Nigeria, and Mexico are witnessing a surge in interest in Halal offerings. Brands like Saffron Road and Balady Foods are leading the way in providing Halal-certified options, while businesses are entering into franchising partnerships to expand their market access.
With Asia Pacific emerging as a key region, collaboration and development efforts are underway to meet consumer preferences. Regulations and certification standards ensure compliance in the Halal industry, promoting trust among consumers. Despite competition, the Halal food market presents numerous opportunities for international players to capitalize on growing demand and expanding economies.
The market report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest market trends and analysis and market growth and forecasting opportunities from 2017 to 2027.
Halal Food Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base yearthe |
2022 |
Historical year |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.52% |
Market growth 2023-2027 |
USD 427.68 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.24 |
Regional analysis |
APAC, the Middle East and Africa, Europe, South America, and North America |
Performing market contribution |
APAC at 51% |
Key consumer countries |
US, South Africa, Japan, China, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Al Islami Foods, BRF SA, CJ CheilJedang Corp., Daesang Corp., Flying Trade Group Plc, Johnsonville LLC, Kawan Food Berhad, Midamar Corp., Nema Food Inc., Nestle SA, Prairie Halal Foods, QL Foods Sdn Bhd, Raj Foods Ltd., Ramly Food Processing, Tahira Foods Ltd., Tesco Plc, The American Halal Co. Inc., Unilever PLC, Cargill Inc., and Glanbia Plc |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market research report report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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