Halal Logistics Market Stands At A Value Of US$ 321.2 Billion In 2023

The worldwide halal logistics industry is predicted to develop at a 5.1% CAGR from US$ 321.2 billion to US$ 528.2 billion. Halal product storage accounts for 60% of the worldwide market.

The sorting of halal commodities during storage is critical to ensuring that the upstream and downstream logistics are in accordance with halal rules. Halal compliance ensures that both the product and its container are halal-certified as they leave storage facilities and move through the supply chain.

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What are the Halal Logistics Market's Primary Drivers?

"Increase in Muslim High-Net-Worth Population"

Spending on halal items has increased as the worldwide halal food commerce has expanded and the Muslim population has grown. Because of improved educational and employment options, Muslim consumers' spending power has expanded considerably in recent years. Typically, the phrase "halal" refers to foods that follow to strict rules for hygiene, sanitation, and religious observance.

The halal sector has grown rapidly as more Muslims become rich. However, as more non-Muslim customers of all ethnicities and religious beliefs express a preference for halal-certified items, the market for halal products is no longer limited to Muslims.

Competitive Landscape:

For instance:

Nippon Express introduced halal air freight in Japan for its domestic cargo transport services in March 2021. This service, in conjunction with its Express Hi-Speed domestic air freight transport service, will provide logistical services to about 200,000 Muslims in Japan.

In April 2021, dnata, an aviation services operator, obtained ISO 9001:2015 certification for cargo handling services, as well as a halal certification award from Majlis Ugama Islam Singapura (MUIS). This accreditation is available for its Coolchain facility's unique storage room.

Key Players:

DB Schenker
Hala Group
HAVI Logistics
Tasco
TIBA Group
Al Furqan Shipping & Logistics LLC
dnata
Yusen Logistics Co., Ltd.
Freight Management Holdings Bhd
Kontena Nasional Berhad
MASkargo
Nippon Express

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Regional Analysis:

The large Muslim population in GCC Countries and inclination towards halal-certified processes has led to large revenue generation. Rising disposable income and rapid expansion of the halal food sector are driving market growth.

Increasing need for innovative halal products, creating new business possibilities for producers of food and beverages, which is anticipated to propel market expansion in GCC Countries. Additionally, service providers in countries offer their services through seaports, which have received halal certification.

"Lack of Halal Standards Uniformity in Different Countries"

The primary challenges impeding market expansion are high inventory prices and a shortage of warehouse space. The absence of consistency in halal norms and regulations across various nations is the biggest impediment to the worldwide growth of the halal logistics business.

Illegal meat exports to the Middle East have harmed the legality of halal products imported from non-Muslim nations. This places a great deal of pressure on organizations that provide halal logistics services to ensure that the commodities being transported and stored adhere to established halal standards and norms.

Key Segments of Industry:

By Component :
Storage
Warehouses
Containers
Transportation
Maritime Halal Logistics
Air Halal Logistics
Land Halal Logistics
Monitoring Components
Hardware
Sensors
RFID Devices
Telematics
Networking Devices
Software
Services
Installation and Integration
Support & Maintenance
By Vertical :
Food and Beverages
Pharmaceuticals
Personal Care & Cosmetics
Chemicals
Others

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This release was published on openPR.