Halal Food Market 2024: Global Report on Industry Growth and Future Outlook

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Halal Food Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2928.57 billion In 2028 At A CAGR Of 14.1% :

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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Halal Food Market Major Segments
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

Key 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.

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Prominent Trend - Emerging Technologies Transforming The Halal Food Market

Technological advancements in halal food items are key trends gaining popularity in the halal food market. With the increasing demand for halal foods, halal laboratories are actively engaged in the food safety, analysis of food products for maintaining quality standards to detect the presence of porcine material or alcohol, blockchain, and the Internet of things (IoT) are the technological advancements that strengthen the market. For instance, in August 2022, Fluree PBC, a US based open-source semantic graph database company and Sinisana Technologies, a Malaysia-based Web3 Blockchain Traceability, announced a collaboration that will allow the Malaysia-based supply chain organization to provide unrivalled end-to-end halal food product sourcing, provenance, and safety to its customers. Using Fluree technology in its blockchain product, Sinisana guarantees openness and integrity to its supply chain and logistics customers across the whole lifecycle of halal food items, from their respective origins to grocery store shelves.

Halal Food Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the halal food market in 2023. The regions covered in the halal food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Halal Food Market Report Structure
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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