USD 1,977 billion
Report ID: SQMG30I2015 | Region: Global | Published Date: October, 2022 | Pages: 165
Global Halal Food Market is valued at USD 1,977 billion in 2021, and it is expected to attain a value of USD 3,907.8 billion by 2028, at a CAGR of 11.25% over the forecast period (2022-2028).
There is rising revenue among customers in the utilization of natural and regular food and refreshment items, addresses areas of strength for a business opportunity for halal food items to address. Halal refreshments are supposed to be progressively made accessible in western-style supermarkets, including grocery store and hypermarket chains. In numerous nations, general stores and food makers have begun connecting with Muslim purchasers by offering a more extensive determination of halal refreshment items.
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 cleanliness retaled benefits related with halal items like liberated from debasements, liquor, and blood. In addition, organizations are progressively following halal-based planning as this affirmation gives both quality and taste level, subsequently, giving an edge in the commercial center.
Global Market Size
USD 1,977 billion
Largest Segment
Traditional Retailers
Fastest Growth
Traditional Retailers
Growth Rate
11.25% CAGR
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Global Halal Food Market is segmented based on Product Type, Distribution Channel and Region. Based on Product Type it is categorized into: Meat, Poultry & Seafood, Fruits & Vegetables, Dairy Products, Cereals & Grains, Oil, Fats & Waxes, Confectionery, Others. Based on Distribution Channel it is categorized into: Traditional Retailers, Supermarkets and Hypermarkets, Online, Others Others. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product Type
The Meat Segment of the Global Halal Market has the largest revenue share in the year 2021 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, and organic products and vegetables.
Analysis by Distribution Channel
Traditional Retailers dominated the Distribution Channel Segment of the Global Halal Food Market followed by the Supermarket/Hypermarkets considering to be the fastest growing modes. The purchaser information that the creature is butchered in a halal manner basically drives the market. Traditional retaillers hold the significant share as butcher shops mainly sell halal meat, poultry, and fish items in most Islamic nations and non-Islamic nations. Be that as it may, the quick development of dispersion channels has fundamentally fuelled the segmental development throughout recent years. The store channels are developing quickly to put resources into more current innovations and proposition buyers a wide assortment of items. These retail diverts are putting resources into following all administrative necessities to work on the security and nature of items they offer. The rising digitalization across the world would likewise uphold the development of online retail channels.
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The Asia Pacific region accounted for more than 34% market share of the Global Halal Food market. The Asia Pacific was the main market for halal food in 2021, and in the upcoming years, the area is supposed to give market dealers a few open doors to development. Because of the developing Muslim population as well as the 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. Europe is noticing huge development on the lookout. Flooding adaptable earnings combined with a rising in the market growth.
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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 quantity of Muslim exiles have 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)
Top Players Company Profiles
Recent Developments
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 |
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Market size value in 2021 | USD 1,977 billion |
Market size value in 2028 | USD 3,907.8 billion |
Growth Rate | 11.25% |
Base year | 2021 |
Forecast period | 2022-2028 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Halal Food Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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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Product ID: SQMG30I2015