According to the latest report by IMARC Group, titled “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, offers a comprehensive analysis of the industry, which comprises insights on the global halal food market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global halal food market reached a value of US$ 1.9 Trillion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.3% during 2021-2026. Halal foods are food products that are strictly prepared to comply with the Islamic dietary law to be permissible for consumption by Muslims. According to the law, these food items should not comprise prohibited ingredients, including pork, blood, alcohol and other intoxicants. Additionally, the consumption of meat of carnivorous animals is also not permitted. Moreover, halal food products must be prepared and stored in separate utensils that have been cleansed according to the Islamic dietary guidelines. Consequently, halal foods are considered to be clean, fresh, toxin-free, and a healthier food option among the masses, which is contributing to their sales across the globe.
Halal food refers to the beverages and food products that are strictly prepared by following the norms established by Islamic dietary law. According to these regulations, several items, such as blood, alcohol, animals that are dead before slaughtering, pork and its by-products, etc., are considered impermissible or haram for consumption. Apart from this, halal food products are packaged and stored in containers that have been cleaned as per the prescribed religious guidelines. Halal food includes variants of various processed items, such as halal foie gras, pizzas, nuggets, spring rolls, lasagna, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
The global market is majorly driven by the increasing awareness regarding the benefits of consuming halal food among the masses. Halal meat products are required to undergo two health checks, unlike the single inspection performed on conventional meats, thereby leading to the widespread preference of these foods among consumers. These foods are widely consumed by both Muslim and non-Muslim consumers due to their assurance of food safety, hygiene and reliability. Moreover, numerous Islamic and non-Islamic countries are implementing strict regulatory frameworks that generally consist of globally accepted halal standards. The governments of multiple countries are also introducing mandatory halal labeling and certification rules, which is creating a positive outlook for the market. The market is further driven by the availability of halal meat at popular fast-food joints across numerous Islamic countries. Some of the other factors contributing to the market growth include a rapidly growing Muslim population, inflating disposable incomes of the masses, the easy product availability through online and offline retail portals and promotional activities by key manufacturers.
The expanding Muslim population across the globe is one of the primary factors driving the halal food market. Moreover, the inflating disposable incomes of consumers are leading to the increasing consumption of meat products, which is further catalyzing the market growth. In addition to this, numerous manufacturers are launching multiple value-added food items, such as burgers, hot dogs, cookies, etc., to cater to the diverse tastes of the consumers. This, in turn, is acting as another significant growth-inducing factor. Furthermore, the escalating number of e-commerce and e-grocery platforms, which offer easy payment options and a wide range of halal-certified food products, is also augmenting the global market. Besides this, the rising product popularity among non-Muslim consumers, owing to the inflating need for ensuring food hygiene and safety, is expected to stimulate the halal food market in the coming years.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- QL Foods
- Al Islami Foods
- Dagang Halal
- Saffron Road Food
- Kawan Foods
- Janan Meat
- Prima Agri-Products
- Tahira Food
- Al-Falah Halal Foods
Breakup by Product:
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Dairy Products
- Cereals & Grains
- Oil, Fats & Waxes
On the basis of the product, the market has been divided into fruits and vegetables; meat, poultry and seafood; oil, fats and waxes; dairy products, cereals and grains; confectionery and others. Currently, the meat, poultry and seafood segment accounts for the majority of the market share.
Breakup by Distribution Channel:
- Traditional Retailers
- Supermarkets & Hypermarkets
Based on the distribution channel, the market has been classified into traditional retailers, supermarkets and hypermarkets, online and others. Amongst these, supermarkets and hypermarkets are the most popular channel of distribution.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Halal Food Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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