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| Halal Food Market |
The global halal food market is primarily driven by the growing Muslim population worldwide and their strict adherence to Islamic dietary laws. Halal food refers to food products prepared in accordance with Islamic laws or Shariah. It involves humane animal handling and prohibiting ingredients like alcohol, pork, blood, and animals not slaughtered according to Islamic method. With a large part of the global population observing Islamic dietary guidelines, there is increasing demand for certified halal food across both Muslim and non-Muslim regions.
The Global Halal Food Market is estimated to be valued at US$ 1.43 billion in 2024
and is expected to exhibit a CAGR of
5.1% over the forecast period 2024
to 2030.
Key Takeaways
Key players operating in the halal food market are Cargill Inc., Al Islami
Foods, QL Resources Sdn Bhd, Haoyue Group, Kawan Food Berhad, BRF S.A., Saffron
Road Food. These players are focusing on portfolio expansion and new product
launches catering to global Muslim consumers.
There are significant opportunities in the Halal
Food Market Size & beverage sector owing to rising Muslim
populations in non-traditional markets like Europe, North America, and Asia
Pacific. Flexible packaging solutions, branding, and aggressive marketing
strategies are helping halal food producers to tap into untapped international
geographies.
Leading halal food brands are also expanding their operations globally through
strategic partnerships, mergers, and acquisitions. For instance, Nestle S.A
recently acquired Chef's Warehouse catering to middle eastern customers in the
U.S. Rapid globalization is propelling the international trade of certified
halal ingredients and food products.
Market Drivers
One of the primary drivers of halal food market is the rapidly growing Muslim
population worldwide. According to estimates, the global Muslim population will
increase by about 35% in the next 20 years, driving higher demand for Islamic
dietary compliant foods. Strict religious guidelines regarding food consumption
among Muslims is another key factor augmenting the sales of certified halal
foods and ingredients.
Market Restrain
The major challenge restraining the halal food market's growth is the lack of a
globally harmonized halal standard and certification process. Different
countries have varying standards regarding halal, making international trade
difficult. Moreover, branding and marketing of halal food also requires huge
investments which can hamper the small companies' opportunities in the global
market. Cost pressures and risks of production halts due to non-compliance are
other constraints faced by halal food producers.
Segment Analysis
The halal food market is segmented into fresh products, frozen products, and
processed products. The processed products segment is currently dominating the
market owing to the wide availability and longer shelf life of products such as
halal meat alternative ingredients, halal noodles & instant meals, and
halal baked goods. The increasing demand for convenience food among consumers
is fueling the growth of this segment.
Regionally, Asia Pacific dominates the halal food market and accounted for
the largest share in 2024. The presence of large Muslim populations in
countries like Indonesia, Malaysia, Pakistan, and Iran is driving the growth of
the market in the region. Going forward, the Middle East and North Africa
region is expected to witness the fastest growth during the forecast period.
Factors such as rising population of Muslims, higher disposable incomes, and
increasing awareness about halal certifications are boosting the demand for
halal food in countries like Saudi Arabia, UAE, and Egypt. Additionally,
Southeast Asian countries including Indonesia, Malaysia, and Singapore are
expected to offer attractive growth opportunities for halal food manufacturers
and suppliers due to rapid urbanization and economic development in the coming
years.
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