Halal Food Market 2024-2033: Global Outlook, Business Statistics, Latest Trends And Major Players

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Halal Food Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The halal food market size has grown rapidly in recent years. It will grow from $1496.23 billion in 2023 to $1727.74 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to increasing Muslim population, globalization and cultural diversity, rising awareness of halal certification, tourism and halal tourism trends, halal food innovation and product diversity.

The halal food market size is expected to see rapid growth in the next few years. It will grow to $2928.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to focus on clean label and natural ingredients, innovations in plant-based and meat alternatives, halal cosmetics and personal care products, rising disposable income in Muslim markets, health and wellness trends in halal products. Major trends in the forecast period include increased collaboration between halal certification bodies, blockchain technology for halal verification, digital platforms for halal certification, globalization of halal products, halal convenience foods.

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Market Segmentation:
The halal food market covered in this report is segmented -
1) By Product: Meat, Poultry, And Seafood, Fruits And Vegetables, Dairy Products, Cereals And Grains, Oil, Fats And Waxes, Confectionary
2) By Distribution Channel: Hypermarkets, Supermarkets, Online Stores, Specialty Stores
3) By Application: Restaurant, Hotel, Home, Other Applications

Major Driver - Global Halal Food Market Soars With Surge In Muslim Population
The rising Muslim population across the world is significantly contributing to the growth of the halal food market. The Muslim population is a community of Islamic people who practice Islam. The increasing demand for halal-certified food among Muslims is due to the assurance of food safety and hygiene. According to Pew Research Center, a US-based nonpartisan American think tank, the growth of the Muslim population in the world is expected to increase by around 2.19 billion by the year 2030. Therefore, the rising Muslim population is expected to drive the growth of the halal food market.

Competitive Landscape:
Major companies operating in the halal food market report are Cargill Incorporated, Nestle Société Anonyme, Unilever Group, Wellmune a Kerry Group PLC company, Brazilian Food Corporation (BRF), BRF S.A., SUKHIS GOURMET INDIAN FOOD, Texas Halal Corporation, Beijing Shunxin Agriculture Co. Ltd., American Foods Group LLC, Kawan Food Berhad, Harris Ranch Beef Company, Noor Pharmaceuticals LLC, Crescent Foods, Alpina Foods, Al Islami Foods Corporation, Saffron Road Food Company, QL Foods Sdn. Bhd., Midamar Corporation, Tahira Foods Limited, Pampanga's Best Inc., AL-FALAH FROZEN FOODS, Prima Quality Food Industries Sdn Bhd, Nema Food Inc., Salwa Foods, Tallgrass Beef Company, The American Halal Co. Incorporated, Dagang Halal Group, Jingyitai Halal Food Co. Ltd., Ayamas Food Corporation

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Top Trend - Innovative Certified Halal Ready Meals In The Global Market
Major companies in the halal food market are focused on developing convenience food, such as certified halal ready meals, to cater to growing chilled halal demand and to gain a competitive edge in the market. Certified halal ready meals are pre-prepared food items that adhere to Islamic dietary laws and have obtained official certification confirming compliance with halal standards. For instance, in June 2022, The Halal Food Company, an Ireland-based company providing independently certified premium halal meal solutions, launched Panang Chicken Curry, Peri Peri Stir Fry with Grilled Chicken, Beef Lasagna, Shepherd's Pie, and Macaroni Pasta with Slow Cooked Meatballs, a new certified halal ready meals range in its 140 Sainsbury's stores. With an estimated 4.2 million individuals following a halal diet in the UK, the new offerings are expected to fill a gap in the market for premium, chef-prepared meals inspired by diverse cultural cuisines. The company is further planning to expand its range to include sandwich fillings and finger foods, offering an extensive selection of Muslim-targeted convenience food.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Halal Food Market Characteristics
3. Halal Food Market Trends And Strategies
4. Halal Food Market - Macro Economic Scenario
5. Halal Food Market Size And Growth
…..
27. Halal Food Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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