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In a recent report by IMARC Group called “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” a detailed analysis of the global halal food market is presented. The report includes insights on market trends, competitor analysis, regional analysis, and advancements in the industry.
The global halal food market reached a size of US$ 2,221.3 billion in 2022. IMARC Group predicts that the market will grow at a compound annual growth rate (CAGR) of 10.8% during 2023-2028, reaching US$ 4,177.3 billion.
Halal food refers to food prepared according to Islamic dietary laws, which prohibit certain ingredients such as human- or animal-derived substances, genetically modified organisms (GMOs), pork, alcohol, and unhygienic content. Halal food is considered more ethical, safer, and less prone to contamination. It is cleaned, stored, and packaged using halal-certified materials and equipment. Common halal food items include meat, poultry, seafood, fruits and vegetables, dairy products, cereals and grains, oils and fats, and confectionery.
The market growth is primarily driven by the increasing Muslim population adhering to Islamic dietary laws. Stricter regulations requiring halal labeling and certification for food and drinks also contribute to market expansion. Non-Muslim communities are becoming more aware of the benefits of halal food products, such as safety, hygiene, taste, nutrition, and hormone-free meat, driving demand. Major companies are introducing value-added halal food items, and the availability of halal products through e-commerce channels is positively impacting the market.
The competitive landscape of the market includes companies like QL Foods, Al Islami Foods, Dagang Halal, Saffron Road Food, Kawan Foods, Janan Meat, Prima Agri-Products, Cargill, BRF, Nestle, Tahira Food, and Al-Falah Halal Foods.
The market is segmented by product (meat, poultry & seafood, fruits & vegetables, dairy products, cereals & grains, oils & fats, confectionery, and others), distribution channel (traditional retailers, supermarkets & hypermarkets, online, and others), and region (North America, Asia Pacific, Europe, Latin America, Middle East and Africa). The report provides valuable insights into market performance, trends, COVID-19 impact, market drivers, SWOT analysis, competitive landscape, and more.
