Halal Food Market Outlook 2031
The global halal food market size was USD 879.6 Billion in 2022 and is estimated to reach USD 2.60 Trillion by 2031 expand at a robust CAGR 12.8% during the projected period, between 2023 to 2031. Halal is an Arabic word that means "lawful," and halal food products are those food items that adhere to the requirements and meet the acceptance of Muslim cultural and social standards.
Halal food includes a range of foods and drinks that are prepared strictly according to the rules defined in Islamic dietary laws & regulations, which describe various permissible, lawful, and clean food products. Items such as alcohol, pork, blood, by-products of blood and pork, and animals that are dead before slaughtering are prohibited for consumption and those are considered to be unacceptable and ‘haram’ in the name of Allah.
Furthermore, halal food products are prepared and stored in utensils that have been cleaned in accordance with the required rules. Muslim community normally avoid consumption of foods and beverages that are categorized as haram, which means illegal or forbidden according to their Islamic beliefs. Halal foods are safe and do not include any unclean components or non-halal, according to Islamic principles.
Halal Food Market Trends, Drivers, Restraints, and Opportunities:
- Rising trends in nutritious snacks as well as increased awareness of convenient food and beverage items of halal products are expected to fuel the market expansion during the forecast period.
- Increasing number of the Islamic population along with their rising spending on food and non-alcoholic beverages is a primary driver of the market.
- Increasing interest in halal foods among non-Muslims consumers due to their various health advantages and flavor is projected to boost the expansion of the market in the coming years.
- Different nations have different halal food requirements of their community and lack of uniformity of rules regarding the consumption of halal products are major challenges, which can hinder the market growth during the projected period.
- Massive inclusion for halal products in the hospitality sector such as hotels and restaurants by leaning towards obtaining halal certification among the majority of taste firms are providing lucrative growth opportunities for the market.
Scope of The Halal Food Market Report:
The report on the global halal food market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Halal Food Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Cereals & Grains; Confectionery; Dairy Products; Fruits & Vegetables; Meat, Poultry, & Seafood; Oil, Fats, & Waxes; and Others), Distribution Channels (Supermarkets & Hypermarkets, Online, Traditional Retailers, and Others), End-Users (Household and Food Industry)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Al Islami Foods; Kawan Foods; Cargill Inc.; Dagang Halal; Saffron Road Food; QL Foods; Al-Flah Super Market; and Midamar Halal
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Halal Food Market Segment Insights:
Meat, poultry, & seafood segment is projected to hold significant market share
Based on products, the halal food market is segregated into cereals & grains; confectionery; dairy products; fruits & vegetables; meat, poultry, & seafood; oil, fats, & waxes; and others. The meat, poultry, & seafood segment is projected to hold significant market share due to the rising demand for halal meat especially poultry and beef products among Muslim population.
Moreover, the increasing popularity of Islamic meat, poultry, and seafood products amongst non-Muslim and youthful customers in numerous nations is likely to have positive impact on the segment growth in the coming years. Furthermore, rising adoption and awareness of halal-certified fruits, vegetables, and cereals among non-Muslims and Muslims consumers are key drivers of the segment expansion.
Supermarkets & hypermarkets segment to account for a substantial share
On the basis of distribution channels, the market is fragmented into supermarkets & hypermarkets, online, traditional retailers, and others. The supermarkets & hypermarkets segment is anticipated to account for a substantial share owing to rising consumer reliance on the aforementioned channel for the purchase of supermarket products.
Furthermore, rising activities by hypermarkets and supermarkets to allocate more shelves to halal items and provide variety to consumers present major driving factors of the segment.
Household segment to expand at a robust pace during the forecast period
In terms of end-users, the halal food market is bifurcated into household and food industry. The household segment is expected to expand at a robust pace during the forecast period due to the growing number of the Muslim population and their increasing demand for halal foods for household consumption.
Halal foods provide various health benefits to customers, including metabolic function and enhanced brain, as well as an increased immune system, which boosts the demand for the foods among a large number of households.
Asia Pacific is expected to dominate the market
In terms of regions, the halal food market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market, owing to the existence of a sizable Muslim population in countries such as Pakistan, Indonesia, and others. Moreover, the growing number of halal food vendors in the region is expected to drive the regional market expansion during the projected timeline.
Segments
By Products
- Cereals & Grains
- Confectionery
- Dairy Products
- Fruits & Vegetables
- Meat, Poultry, & Seafood
- Oil, Fats, & Waxes
- Others
By Distribution Channels
- Supermarkets & Hypermarkets
- Online
- Traditional Retailers
- Others
By End-users
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
Competitive Landscape
Key players in the global halal food market are Al Islami Foods; Kawan Foods; Cargill Inc.; Dagang Halal; Saffron Road Food; QL Foods; Al-Flah Super Market; and Midamar Halal. These players are widely engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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