Halal Food Market to grow by USD 332.9 billion between 2024-2028
According to a research report “ Halal Food Market” by Product (Halal MPS, Halal BCC, Halal FVN, Halal beverages, Others) Distribution Channel (Offline, Online) Geography (APAC, Middle East and Africa, Europe, South America, North America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 332.9 billion at a CAGR of over 3.48% during the forecast period. The halal food market has experienced substantial expansion beyond traditional strongholds like Indonesia, Malaysia, Saudi Arabia, and the UAE. Notable growth can be observed in key exporting nations such as Australia, the US, Germany, and India. This trend is primarily driven by heightened consumer consciousness regarding halal food. As a significant food and beverage exporter, Australia anticipates increased halal food exports during the forecast period. Concurrently, consumer spending on halal food has risen in Indonesia, Malaysia, Turkey, and Singapore, contributing to market growth in these countries..
Browse market data tables, figures, and in-depth TOC on “Halal Food Market” by Product (Halal MPS, Halal BCC, Halal FVN, Halal beverages, Others) Distribution Channel (Offline, Online) Geography (APAC, Middle East and Africa, Europe, South America, North America) Global Forecast to 2028.
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By Product, the Halal MPS segment is projected to dominate the market size in 2024.
In the realm of halal food distribution, physical retail channels play a pivotal role. Halal food producers forge strategic alliances with renowned international, domestic, regional, and local supermarkets and hypermarkets. These formats, particularly supermarkets and hypermarkets, represent significant sales avenues for halal food brands. Traditional markets, such as wet markets and slaughterhouses, serve as sources for procuring raw materials. Subsequently, these retailers process, price, and merchandise the halal food products for consumer purchase.
By Distribution Channel, Offline segment is expected to hold the largest market size for the year 2024.
In the Halal Food Market, we cater to a specific segment consisting of beef, lamb, goat, chicken, turkey, and fish. This segment can be categorized into fresh, minimally processed, and heavily processed halal meat, poultry, and seafood. Minimally processed products are free from artificial additives and undergo minimal alteration during production. Conversely, heavily processed items include halal sausages, salami, corned beef, canned meat, and frozen meat.
APAC is forecasted to hold the largest market size by region in 2024.
In the dynamic business landscape, the Halal Food Market represents a significant growth opportunity. This sector caters to consumers adhering to Islamic dietary laws, encompassing approximately 1.8 billion people worldwide. By offering authentic, high-quality Halal food products, businesses can tap into this lucrative market, fostering brand loyalty and expanding their customer base. Strategic partnerships, innovative marketing, and adherence to Halal certification standards are essential for success in this niche market.
The Halal Food Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Halal food market caters to the dietary needs of the global Muslim population, estimated to be over 1.8 billion. This market includes a wide range of food products, such as cereals and grains, dairy products, fruits and vegetables, and meat from Halal-certified sources. Halal-based planning is essential to ensure the absence of impurities and debasements, as per Islamic dietary laws. Non-permissible foods under Islamic law include alcohol, pork, and other substances. Multinational food conglomerates have recognized the potential of the Halal food market and have started offering Halal products. Halal certification services play a crucial role in ensuring the authenticity of these products. The certification processes involve rigorous inspections to maintain cleanliness and adherence to Islamic law. Seafood and poultry are also subjected to these certification processes. The Halal food market is a significant component of multiculturalism, reflecting the diversity and inclusivity of modern food industries. The colossal development of this market is a testament to the growing importance of Halal products in the global food industry.
Market Research Overview
The Halal food market caters to the global Muslim population, estimated at over 1.8 billion, who adhere to Islamic dietary laws. This market encompasses various segments, including the supermarket segment, where consumers seek halal-certified food. The demand for halal products is not limited to Islamic nations but also extends to non-Islamic ones. Halal certification services play a crucial role in ensuring the authenticity and quality of these products. The certification process involves rigorous checks for impurities and debasements, ensuring cleanliness and adherence to Islamic law. The Halal food market includes a wide range of products, from meat and poultry to dairy, fruits, and vegetables. Innovative halal products, such as oat-based and fish items, are gaining popularity due to their nutrient value and health benefits. The market is witnessing colossal development, with food manufacturers and multinational food conglomerates entering the fray. Premiumization and high-quality are key trends, with consumers willing to pay a premium price for halal products. Online retail channels, including e-commerce sales, are increasingly popular, offering convenience and accessibility. Traditional retailers, such as butcher shops and hypermarkets, continue to play a significant role in the market. The Halal food market includes various sectors, including confectionery, waxes, fats, oil, cereals and grains, and seafood. The meat segment, including halal meat and fish items, is a significant contributor to the market's growth. In conclusion, the Halal food market is a mature and growing market, driven by consumer demand and the need for good dieting patterns. It is a multicultural market, with a global reach and a focus on taste level, quality, and halal-based planning.
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