Halal Food Market Set to Reach USD 6751.83 Billion by 2032: A 12.5% CAGR Growth

Halal Food Market Outlook and Key Insights

Abstract The global Halal food market is expanding at a healthy pace owing to economic, cultural, and social factors influencing consumer behaviour. With Halal Certified food products being in high demand in different regions, the market will achieve new heights in coming years. This release covers important insights about the Halal food market like market estimation, market drivers, trends and competitive landscape.

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Market Assessment and Growth Factor

Over the next 10 years, the global Halal food market is projected to grow substantially. Market in 2023 is worth billions of dollars and will grow year on year at a steady CAGR The increase in these numbers is fuelled by a growing global Muslim population, heightened awareness of Halal dietary practices, rising demand for healthy, clean and ethically sourced food, and appreciation of Halal certification bodies. The increasing demand for halal products by non-Muslim consumers, particularly in western countries, has also led to the expansion of this market.

Here are some of the major factors driving the fast growth of the market:

Growing Muslim demographics worldwide: One of the main contributing factors to the overall growth in demand for Halal food products is the size of the global Muslim population, which is projected to cross the 2 billion mark by 2030. With Muslim consumers wanting goods to be certified, businesses are meeting demand in a rapidly growing market.

Health and Nutrition & Well-being & Ethical Concerns: Health and nutrition & Well-being & Ethical concerns are gaining popularity in the agenda of many people. Halal food tends to be regarded as more hygienic, and halal certification acts as a quality assurance of cleanliness and quality that draws consumers seeking healthier food.

Increased Middle-Class Wealth: The growing middle-class in emerging markets such as Asia-Pacific and Middle-East is translating into rising purchasing power of Muslim consumers, which is driving the demand for high quality Halal food products.

Growth of Halal Food Brands and Certification - Due to increasing number of companies aiming for Halal certification to enter new markets, the increase in the availability of Halal certified food products has expended, giving better accessibility to consumers worldwide.

Trends and Investment in the US Market (2024)

The US Halal food market is anticipated to enjoy significant growth owing to the increasing consumer awareness and transition towards health-oriented diets. The US has seen a strong increase in demand for Halal food lately over 2024, and it is not just due to the Muslim population, as even non-Muslim consumers, who want items that are cleaner, more ethical, and organic, now prefer Halal food. Moreover, the US government promotes ethical food practices and the growing interest in dietary diversity also fuels the demand of Halal food.

The wider Halal food community in the US is catching an increasing interest from many big companies as expansion towards Halal food grows with the consumer trends. There has been growth in the investments made in setting up halal food production facilities and leading players of food industry covering halal certification as a part of their supply chain. In addition, increasing number of retailers providing Halal food products thereby addressing a larger population has an overall positive impact on market growth.

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Market Segmentation

Based on product type, the global halal food market can be broadly segmented into the following: food type (meat and poultry, processed foods, dairy products and beverages) and distribution channel (supermarkets, hypermarkets, convenience stores, online and financial intermediaries). The meat and poultry segment, however, accounts for the biggest share of the overall Halal food market, due to the important role of Halal slaughtering in Muslim dietary laws.

Meat and poultry segment is leading the global Halal products market, as the consumption of Halal meat in Muslim populated countries is very high. This segment is expected to witness significant growth attributing to rising consumption of Halal-certified meat from budding economies i.e. Southeast Asia and the Middle East. This consumption is supported by the variety of Halal meats available in Western countries and more buyers are disputing the advantages of Halal means of slaughter.

Competitive landscape: 5 key players

Nestlé S.A.Nestlé is one of the most important players in the world Halal food market and produces a wide range of products, covering beverages, dairy, and processed foods, all being Halal certified. Recognizing a growing demand, the company has undertaken considerable investment for Halal certification and production facilities. Some are even introducing Halal-certified vegetarian and plant-based items, responding to increasing demand from Muslim shoppers.

Unilever Unilever that manufacturing of food and beverage products was among the leaders in the world of the Halal food market. It has recently broadened its range of halal products, especially in the regions of the Middle East, Asia-Pacific, and North Africa. With its priority on sourcing sustainably and Halal certification, Unilever has been able to penetrate different markets, such as plant based Halal foods.

The Halal food market in the Middle East is showing promising growth, with key players like Almarai in a stronger position after its latest release of certified dairy products, which are expected to drive enormous opportunities. As demand for more ethically sourced food choices continues to rise, the company has also strengthened its supply chain to meet desired levels of the highest Halal certification.

Cargill, Inc. The Cargill company is an important and a global company that is in the halal meat market. It has invested heavily in Halal meat processing facilities around the world. Cargill has been developing technologies to boost and streamline Halal food manufacturing.

BRF S.A. With its strong position among leading Halal meat suppliers, BRF S.A. dominates in markets like Asia, the Middle East, and North Africa. AusaFood has invested considerable resources toward increasing the capacity of its Halal meat production plants and distribution networks. BRF's newest moves involve automation technology investments for the production of Halal-compliant meat.

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Regional Analysis

USA

The US Halal food market is one of the fastest developing on the planet, with a critical Muslim population in the nation paired with developing information on Halal food among non-Muslim customers. The supportive attitude of the US Government towards Halal certification has also contributed to the flourishing of Halal food market in US. The number of Halal restaurants and food products has increased in the country, with top companies investing in separate Halal production plants.

UK

Following increasing multiculturalism, Halal food is on the rise with far more and more Halal food demanded in the UK. Assisted by elevated consumer awareness and Halal-certified products lines being increasingly offered in supermarkets, the market is projected to further expand.

Germany and France

Demand for Halal food products has been strong in countries like Germany and France, where there is a vast Muslim population. The Halal food sector has also benefitted from government policies in these countries, which has encouraged food safety and ethical food production, thus allowing larger penetration of Halal foods into mainstream retail channels.

China

The expansion of the Muslim growing population of China and the openness to foreign utilization habits trends makes China a very disruptive player in the global Halal food market. The market growth is further supported by the encouragement of Halal certification and the food safety standards by the Chinese government.

Conclusion

The ever-growing global Halal food market is likely to witness sustained growth in the forthcoming years due to growing awareness among consumers regarding health-oriented food and also the increased number of Muslims across the globe. With the market constantly evolving, organizations need to keep innovating and accommodating the needs of a diverse consumer base. Several factors, including the improvements in Halal certification processes, increasing availability of Halal food products in developing regions, and investments into sustainable production technologies will be key drivers of growth across different industries, thus transforming Halal food market in the near future. This is a market that possesses massive potential, especially for plant-based and Halal food developments that can honestly claim to be clean label food, as the demand for consumer interest is likely to continue to grow over the next few years.

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