USD 2.11 billion
Halal Food Market Size, Share, Growth Analysis, By Product Type(Meat, Poultry & Seafood, Fruits & Vegetables, Dairy Products), By Distribution Channel(Traditional Retailers, Supermarkets, Hypermarkets, Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2144 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
71
|Figures:
75
Halal Food Market Insights
Halal Food Market size was valued at USD 2.11 billion in 2019 and is poised to grow from USD 2.37 billion in 2023 to USD 5.91 billion by 2031, growing at a CAGR of 12.1% in the forecast period (2024-2031).
Halal foods have a huge importance in Muslim diet and it implies that the food is permissible according to Islamic law. As Islamic dietary laws prohibit the consumption of pork, alcohol and other non-permissible foods, halal offers foods with high standards and certification that is fit according to Islamic law. While not all foods are considered halal, many food manufacturers seek halal certification to comply with Islamic dietary laws.
The halal food market is projected to observe colossal development in the upcoming period, attributable to rising interest from both Muslim and Non-Muslim buyers. This is predominantly because of the associated cleanliness related with halal items like liberated from debasements, liquor, and any other impurity. In addition, organizations are progressively following halal-based planning as this affirmation gives both quality and taste level, subsequently offering an edge in the commercial sector.
US Halal Food Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
meat
Fastest Growth
Traditional Retailers
Growth Rate
12.1% CAGR
Global Halal Food Market ($ Bn)
Country Share for AP and MEF Region (%)
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Halal Food Market Segmental Analysis
The global halal food market is segmented based on product type, distribution channel and region. Based on product type the halal food market is categorized into meat, poultry & seafood, fruits & vegetables, dairy products, cereals & grains, oil, fats & waxes, confectionery, others. Based on distribution channel, the halal food market is categorized into traditional retailers, supermarkets and hypermarkets, online, and others. Based on region, the halal food market segmentation spans North America, Europe, Asia-Pacific, South America, and MEA.
Halal Food Market Analysis by Product Type
The meat segment accounted for the largest revenue share in the year 2022 because of their highest consumption. The incentive for meat, poultry, and fish items is the biggest in the halal food market because of its overall reach and prevalence. Arising economies, like China, India, and Indonesia are supposed to contribute significantly to the development of the halal meat and poultry industry because of rising earnings and good dieting patterns among customers. The developing interest for packaged processed meat items as they are viewed as clean and great items is supposed to fuel the segmental development in the predictable years. The key makers are putting resources into better advances of meat conservation to satisfy the developing customer interest for all the more new and solid handled meat items. With the developing mindfulness in regards to food quality and wellbeing, the interest for halal certificate increments for different items like dairy, oat-based items, organic products and vegetables.
Halal Food Market Analysis by Distribution Channel
Traditional retailers dominated the distribution channel segment in the global market followed by supermarket/hypermarkets considering to be the fastest growing modes. Traditional retailers held the significant share as butcher shops is engaged into selling halal meat, poultry, and fish items in Islamic nations and non-Islamic nations.
The store channels are developing quickly to put resources into more current innovations and proposition buyers a wide assortment of items. The rising digitalization across the world is projected to propel the development of online retail channels.
Global Halal Food Market By Distribution Channel
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Halal Food Market Regional Insights
Asia Pacific accounted for more than 36% global market share. Asia Pacific accounted as the major market for halal food in 2022, and projected to continue its dominance in the upcoming years. As the regional markets witness expansion of Muslim population followed with fundamentally rising food interest and costs, the global halal food market is supposed to grow significantly over the conjecture period. The Middle East and Africa have gigantic idle for the market development as the clients in this region are primarily Muslim with expanding per capita incomes. European markets are noticing huge development on the lookout.
Global Halal Food Market By Region
- Largest
- Fastest
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Halal Food Market Dynamics
Halal Food Market Driver
Premiumization and an Increased Awareness to Boost the Market Growth
- Premiumization in the halal food market enables the manufacturers to offer high-quality and innovative halal products at a premium price. This is majorly true in developed and mature markets where consumers are willing to pay higher for halal products in these markets.
- Halal food products offer major health benefits that non-halal food products offer unevenly. Mainly, these food products are well-processed with a longer shelf life without compromising the nutrient value. Therefore, halal food products offer health and wellness to a major extent thereby adding to its popularity.
Halal Food Market Restraint
Limited availability and lack of standardization to impede the market growth
- Limited availability and lack of standardization to impede the market growth
Halal food products are commercially available on a limited basis mainly in the non-Muslim country. Also, the low popularity of halal foods contributed to the negligible demand in such countries. - Lack of standardization and certification of halal foods can create a diversion for consumers which can impact the demand for halal foods in the region.
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Halal Food Market Competitive Landscape
The Global Halal Food Market is fairly concentrated, with a few big and medium-sized market participants accounting for a large portion of market revenue. The Muslim population has expanded lately, which have prompted a propagated interest for halal food and refreshment from various regions of the world. Major players are including Al Islami Foods (UAE), QL Foods Sdn Bhd(Malaysia), Nestlé S.A(Switzerland), DagangHalal Sdn. Bhd. (Malaysia), Cargill Inc.(US), Tahira Foods Ltd (UK), Kawan Foods Berhad (Malaysia), Janan Meat Ltd, Prima Agri-Products Sdn Bhd(Malaysia), Saffron Road (US), Unilever (UK), American Halal Company, Inc. (US)
Halal Food Market Top Players Company Profiles
- Nestle S.A.
- Al Islami Foods
- BRF S.A.
- QL Foods Sdn Bhd
- Cargill Inc.
- Yildiz Holding Inc.
- Kellogg's Company
- WH Group Limited
- Nema Food Company
- Kawan Food Berhad
- Midamar Corporation
- Halal-ACS Global GmbH
- Prima Agri-Products Sdn Bhd
- Saffron Road Foods
- Siera Meat Industries
- Nando's Chickenland Limited
- Nema Food Company
- Haoyue Group Co. Ltd.
- Samex Australia Pty Ltd
- Tahira Foods Ltd.
Halal Food Market Recent Developments
- In May 2021, Al Islami Foods, a manufacturer of frozen halal goods based in the United Arab Emirates, has introduced a new dough category, beginning with frozen paratha, in an effort to increase the brand's accessibility, diversity, and awareness.
- Recently, in 2022, blockchain technologies are becoming widely used in the halal food industry to ensure authenticity throughout the food supply chain. Studies also reveal that the blockchain technology is expected to add more transparency, and resilience to the supply chain in food industry.
Halal Food Key Market Trends
- Increase in Awareness of Halal Foods: The non-Muslim population has developed a huge liking for halal foods mainly for their easy availability, and taste. This has led in rise in demand for halal-certified products in both the Muslim and non-Muslim population.
- Booming e-commerce Sales: E-commerce sale have been a significant factor for halal products. Online trends reveal that halal foods are popular among the secondary consumers mainly for their easy availability, at promotional prices.
Halal Food 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, by product type, the Meat Poultry and Seafood sub-segment has the largest revenue share of The Halal Food Market. Distribution-wise, the Traditional Retailers have dominated the market with a market share. Region-wise, the Asia Pacific region accounted highest market share more than 30% in 2021.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 2.11 billion |
| Market size value in 2031 | USD 5.91 billion |
| Growth Rate | 12.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 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 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 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 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 Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Halal Food 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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