What is the Global market size of the Halal Food Market?

Global Halal Food Market size was valued at USD 2.11 billion in 2021 and is poised to grow from USD 2.37 billion in 2022 to USD 5.91 billion by 2030, growing at a CAGR of 12.1% in the forecast period (2023-2030).

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.

Halal Food Market Report Snapshots

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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 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) '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.'

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.

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.

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.

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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

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