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Halal Food Market Size, Share, Trends, Growth And Key Players Over 2033
Halal Food Market Size
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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