According to the latest report by IMARC Group, titled “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global halal food market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Halal Food Industry Growth Analysis & Future Forecast:
The global halal food market size reached US$ 2,221.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,177.3 Billion by 2028, exhibiting a growth rate (CAGR) of 10.8% during 2023-2028.
Halal food includes numerous food item that is permissible for Muslims prepared in accordance with Islamic law. In general, this means that any food that does not contain pork or alcohol, along with animals that are slaughtered as per Islamic regulations, is considered halal. This includes all types of meat and poultry, fish, eggs, dairy products, fruits, vegetables, legumes, and grains. The main principles of halal food are based on the Quran and the Sunnah practice, which outline the permissible way to consume food items. Additionally, halal food preparation also follows Islamic principles of cleanliness and hygiene, which state that the kitchen, utensils, and food must be kept clean and free of contamination, including prohibiting contact with non-halal items.
Halal Food Market Trends:
The increasing population who follows Islamic practice majorly drives the global market. Apart from this, the evolution of halal principles as a sign of religious observation to provide assurance of food safety, hygiene, and reliability is driving the market. Apart from this, the emergence of halal restaurants, supermarkets, and online stores providing a wide range of halal-certified products, such as frozen foods, canned and packaged goods, and freshly produced foods, is also propelling the demand for halal food.
Moreover, manufacturers are introducing innovative products, new flavors, and packaging to appeal to a larger audience is acting as a growth-inducing factor. Some of the other factors driving the market include the introduction of vegan and vegetarian halal food items and the growing health consciousness among the masses.
Competitive Landscape:
By IMARC group the report has also analyzed the competitive landscape of the market with some of the top halal food manufacturing companies being
Some of these key players include:
- QL Foods
- Al Islami Foods
- Dagang Halal
- Saffron Road Food
- Kawan Foods
- Janan Meat
- Prima Agri-Products
- Cargill
- BRF
- Nestle
- Tahira Food
- Al-Falah Halal Foods
Key Market Segmentation Breakup by:
Product:
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Dairy Products
- Cereals & Grains
- Oil, Fats & Waxes
- Confectionery
- Others
Distribution Channel:
- Traditional Retailers
- Supermarkets & Hypermarkets
- Online
- Others
Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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