Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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 refers to food items and beverages that are strictly prepared according to the rules underlined by the Islamic dietary law. According to this law, alcohol, blood, pork, by-products of pork and blood, animals that are dead before slaughtering, and those not killed in the name of Allah are considered ‘haram’ or impermissible for consumption. Moreover, halal food products are packaged and stored in utensils, which have been cleaned as per the prescribed guidelines.

Over the past few years, halal food items have become popular amongst both Muslim and non-Muslim consumers as they have evolved from being an identification mark of religious observation to assurance of food safety, hygiene and reliability. For example, slaughtered halal animals undergo two health checks, as compared to the single inspection performed on other conventional animals. Besides this, several Islamic and non-Islamic countries are implementing stringent regulatory frameworks, which consist of globally accepted standards, to attract novel entrants in the market. Recently, in October 2019, the Government of Indonesia introduced mandatory halal labeling and certification rules, owing to which consumers nowadays prefer halal food. With an increase in the demand, manufactures have widened their product portfolio by introducing several value-added food items, including hot dogs, soups, candies, burgers, sandwiches, cookies, creams and pizzas. Moreover, the flourishing e-commerce industry has facilitated consumers with easy accessibility of halal-certified food products.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global halal food market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product and distribution channel.

Breakup by Product:

Meat, Poultry & Seafood
Fruits & Vegetables
Dairy Products
Cereals & Grains
Oil, Fats & Waxes
Confectionery
Others

Currently, meat, poultry and seafood are the most preferred food products in the market.

Breakup by Distribution Channel:

Traditional Retailers
Supermarkets & Hypermarkets
Online
Others

At present, supermarkets and hypermarkets represents the largest segment, dominating the market.

Regional Insights:

Asia Pacific
Middle East & Africa
Europe
North America
Latin America

On the geographical front, Asia Pacific is the leading market for halal food, accounting for the majority of the total market share. This growth can be attributed to the presence of several regulatory bodies and a combination of the religious and cultural populations in the region.

Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being QL Foods Sdn Bhd, Al Islami Foods Co., DagangHalal Group, Saffron Road, Kawan Foods Berhad, Janan Meat Ltd, Prima Agri-Products Sdn Bhd, Cargill, Inc., BRF S.A., Nestle S.A., Tahira Foods Ltd., and Al-Falah Halal Foods Ltd.

Key Questions Answered in This Report
1. What was the size of the global halal food market in 2022?
2. What is the expected growth rate of the global halal food market during 2023-2028?
3. What are the key factors driving the global halal food market?
4. What has been the impact of COVID-19 on the global halal food market?
5. What is the breakup of the global halal food market based on the product?
6. What is the breakup of the global halal food market based on the distribution channel?
7. What are the key regions in the global halal food market?
8. Who are the key companies/players in the global halal food market?