USD 802.83 billion
Halal Food and Beverage Market Size, Share, Growth Analysis, By Type(Halal Food, Halal Drinks and Halal Supplements), By Product(Meat & Alternatives, Milk & Milk Products, Fruits & Vegetables, Grain Products and Others), By Distribution Channel(Hypermarkets/Supermarkets, Convenience Stores, and Online Channel), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2184 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
90
|Figures:
76
Halal Food and Beverage Market Insights
Global Halal Food and Beverage Market size was valued at around USD 802.83 billion in 2022 and is poised to grow from USD 831.73 billion in 2023 to USD 1103.73 billion by 2031, at a CAGR of 3.6 % over the forecast period (2024–2031).
The market is expected to be driven over the forecast period by a growing Muslim population globally and the increasing concern in food safety, hygiene, and reliability. There are 1.8 billion Muslims worldwide, according to a Pew Research Center report from April 2020. A variety of value-added halal food products, such as pasta, vegetables, juice, milk, yogurt, and cheese, have been introduced by manufacturers in response to rising demand. Moreover, the production of halal-certified food by major players in the market will raise consumer awareness of the brand.
The market is anticipated to expand from 2022 to 2030 as a result of consumers' increasing interest in consuming vegan food and beverages and the introduction of products by halal manufacturers for these ethical consumers. The market's major players are introducing vegan products as a result of shifting customer attitudes towards animal suffering and slaughter. For instance, a plant-based burger was introduced by the United Arab Emirates (UAE)-based halal food behemoth AI Islamic Foods in January 2021. The product is produced from a mixture of peas, fava beans, and sunflower protein from a non-GMO, organic farm. The initiative, which will further integrate well with the market development trend, was taken in response to the rising demand for vegan food.
Islam is the religion with the fastest rate of growth, particularly in Asia and the Pacific, which will increase the market for halal goods there. According to a piece in China Highlights, there will be nearly 25 million Muslims living in China in February 2022, with Islam constituting the majority religion. These Muslims will be clustered in smaller groups. The market is anticipated to be driven by Muslims' increasing knowledge of the importance of consuming non-haram food due to their religious beliefs. A number of companies in the region sell products that have obtained halal certification, including Ecolite, Saffron Road, Prasuma, Keventer, Prima Agri-goods, Nestle, and Pampanga's Best.
In recent years, halal food has gained appeal among both Muslim and non-Muslim consumers as it transitioned from a religious identification mark to a guarantee of the reliability, safety, and hygiene of the food. The Indonesian government passed laws requiring halal labeling and certification in April 2021, and as a result, consumers began to favor these foods more and more, according to a story in the United States Department of Agriculture (USDA).
US Halal Food and Beverage Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Meat & Alternatives
Fastest Growth
Grain Products
Growth Rate
3.6% CAGR
Global Halal Food and Beverage Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Halal Food and Beverage Market Segmental Analysis
Global Halal Food and Beverage Market is segmented based on type, product, distribution channel and region. Based on type the Halal Food and Beverage Market is segmented halal food, halal drinks and halal supplements. Based on product the market is segmented into meat & alternatives, milk & milk products, fruits & vegetables, grain products and others. Based on distribution channels the Halal Food and Beverage Market is segmented into hypermarkets/supermarkets, convenience stores, and online channels. Based on region the global Halal Food and Beverage Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Halal Food and Beverage Market Analysis by Product
The meat & alternatives segment dominated the market in 2021 with a 51.6% market share, and it is anticipated that it will do so for the remainder of the forecast period. The demand for these products will rise in the near future as a result of rising consumer demand for bacteria-free meat brought on by safety, hygiene, and health worries. In England, a National Library of Medicine study from June 2020 found that 70% of consumers favored halal meat to conventional meat. Additionally, 3.2% of consumers take meat monthly, 0.4% only occasionally, and 45.6% consume meat daily. Additionally, a degree of acculturation and consideration for animal welfare are significant factors in the market's growth.
Grain products, on the other hand, are anticipated to expand at the fastest rate between 2022 and 2030, with a CAGR of 4.3%. Because of their nutritional advantages, cereals and other grain goods are becoming more popular with consumers. Wheat, rice, pasta, bread, and breakfast cereals are some of these items. According to a report in the Multidisciplinary Digital Publishing Institute (MDPI), consumers worldwide ingested 16% of grain products with halal certification in February 2022. Halal is being adopted as a novel marketing idea by many significant brands in the market. For instance, Kellogg's cereals are offered with the halal symbol on the package in an effort to attract more customers who favor products with health benefits, particularly in the Muslim community.
Halal Food and Beverage Market Analysis by Distribution Channel
A larger distribution channel in 2021, hypermarket and supermarket had a market share of roughly 75.5% of worldwide revenue. The market's supply of halal food has increased in a growing number of these stores across many different areas. In Norway, national supermarkets are preferred by 16% of consumers from educated big families, 13% from educated small families, and 5% of young residents, according to a Taylor & Francis Online story from October 2020. Additionally, the ease of personally inspecting halal-certified goods in these stores will attest to the expansion of this market.
Global Halal Food and Beverage Market By Product
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Halal Food and Beverage Market Regional Insights
Asia Pacific produced the largest contributions, representing 60.3% of the global market in 2021. Migration from nations with a majority of Muslims to other areas is one of the main factors causing the Muslim community in the Asia-Pacific region to grow significantly. The market for these foods has grown in demand as the number of Muslims has increased, and it is expected that this trend will continue during the forecast period.
Europe, the second-fastest-growing businesses, is expected to experience a CAGR of 4.7% from 2022 to 2030. The growing trend of certified goods in the area, which is increasing product visibility among consumers, will support the market in the region even more. For instance, the French fast-food chain O'Tacos announced the introduction of meat and vegetable wraps in the manner of France in Italy in 2020. Furthermore, 500 small- to large-scale Italian manufacturers now have halal certification. Because of the aforementioned tendency and the introduction of newly certified goods, it is anticipated that the market in the region is going to have an upward development shift.
Global Halal Food and Beverage Market By Region
- Largest
- Fastest
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Halal Food and Beverage Market Dynamics
Halal Food and Beverage Market Drivers
Growing Awareness to Bring Lucrative Growth Opportunities for Players
- There is a growing awareness among consumers about halal products and their benefits, such as being healthier and more ethical. This is leading to an increased demand for halal-certified products.
Halal Food and Beverage Market Restraints
Stigma around Halal Products to Hinder Market Growth
- While awareness about halal products is growing, there are still many consumers who are not familiar with the concept of halal, which can limit demand for these products.
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Halal Food and Beverage Market Competitive Landscape
The market for halal food and drink is extremely fragmented due to the existence of numerous regional and local actors. To remain competitive, businesses have been putting various expansion strategies into practice, such as partnerships and the introduction of new products.
Halal Food and Beverage Market Top Player’s Company Profiles
- Nestle S.A.
- Kellogg Company
- Unilever N.V.
- Al Islami Foods
- BRF S.A.
- Cargill Inc.
- Crave Foods
- Haoyue Group
- Kawan Food Berhad
- Kraft Heinz Company
- Saffron Road Food
- QL Foods Sdn Bhd
- Sinar Sosro
- Sireh Emas Sdn Bhd
- Sukanda Djaya
- Tariq Halal
- Tegel Foods
- Yum! Brands, Inc.
- Tahira Food
- Midamar Corporation
Halal Food and Beverage Market Recent Developments
- In March 2024, Thai Food Products International, a top player in the food and beverage industry, partnered with Food Farm Hub to bring high-quality food ingredients, additives, and powdered food and beverage to global markets. All of their powdered food and beverage ingredients are manufactured under standards of the Thai FDA, GMP, HACCP, and Halal Certificate in order to ensure that international and domestic customers gain high-quality, hygienic, and safe products.
- In February 2024, CJ Foods, a business unit of South Korea-based CheilJedang, launched the first halal bibigo Mandu products. The company plans to introduce the taste of Korean Mandu, which holds the No. 1 market share in Korea, the U.S., and Vietnam, to Malaysian consumers.
- In February 2024, Electronics products manufacturer Industronics Bhd ventured into the halal food and beverage (F&B) and halal convenience store business in Hong Kong. The group acquired a dormant company in Hong Kong owned by Datuk Chu Boon Tiong, for HK$1 (61 sen), to undertake the new business. The company has been renamed as Halal Group Ltd (HGL).
Halal Food and Beverage Key Market Trends
- There is a growing focus on ensuring the authenticity of halal products, as consumers become more aware of the potential for fraud and mislabelling in the halal food and beverage market.
- As consumers' lifestyles become increasingly busy, there is a growing demand for halal products that are convenient and easy to prepare, such as ready-to-eat meals and snacks.
- The global halal certification market is expanding, as more companies seek certification for their products in order to tap into the growing demand for halal products.
- E-commerce and digital marketing are becoming increasingly important channels for halal food and beverage companies to reach consumers, particularly younger consumers who are more likely to shop online.
Halal Food and Beverage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Halal Food and Beverage market is the market expected to be driven over the forecast period by a growing Muslim population globally and the increasing concern in food safety, hygiene, and reliability. There are 1.8 billion Muslims worldwide, according to a Pew Research Center report from April 2020. A variety of value-added halal food products, such as pasta, vegetables, juice, milk, yogurt, and cheese, have been introduced by manufacturers in response to rising demand. Moreover, the production of halal-certified food by major players in the market will raise consumer awareness of the brand.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 802.83 billion |
| Market size value in 2031 | USD 1103.73 billion |
| Growth Rate | 3.6% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Halal Food and Beverage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Halal Food and Beverage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Halal Food and Beverage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Halal Food and Beverage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Halal Food and Beverage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Halal Food and Beverage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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